First Mid Bancshares (NASDAQ:FMBH) Downgraded by DA Davidson to “Neutral”

DA Davidson lowered shares of First Mid Bancshares (NASDAQ:FMBH) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, MarketBeat reports. The firm currently has $47.00 price objective on the bank’s stock, up from their previous price objective of $44.00.

Several other brokerages have also commented on FMBH. Piper Sandler lifted their target price on First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Stephens lifted their price objective on shares of First Mid Bancshares from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Keefe, Bruyette & Woods cut shares of First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 target price on the stock. in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

First Mid Bancshares Stock Down 1.9 %

NASDAQ:FMBH opened at $42.40 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 13.05 and a beta of 0.89. First Mid Bancshares has a one year low of $28.86 and a one year high of $43.30. The stock has a 50-day simple moving average of $38.96 and a 200 day simple moving average of $36.10.

First Mid Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.26%. First Mid Bancshares’s dividend payout ratio is currently 29.54%.

Institutional Investors Weigh In On First Mid Bancshares

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of First Mid Bancshares by 7.1% during the first quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock valued at $42,230,000 after acquiring an additional 85,434 shares during the period. Dimensional Fund Advisors LP lifted its position in First Mid Bancshares by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank’s stock valued at $25,584,000 after purchasing an additional 36,769 shares during the last quarter. American Century Companies Inc. boosted its stake in First Mid Bancshares by 23.7% during the 2nd quarter. American Century Companies Inc. now owns 340,343 shares of the bank’s stock valued at $11,190,000 after purchasing an additional 65,314 shares during the period. Bank of New York Mellon Corp grew its position in First Mid Bancshares by 7.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 118,048 shares of the bank’s stock worth $3,881,000 after purchasing an additional 7,849 shares during the last quarter. Finally, Creative Planning increased its stake in shares of First Mid Bancshares by 2.1% in the second quarter. Creative Planning now owns 106,397 shares of the bank’s stock valued at $3,498,000 after purchasing an additional 2,186 shares during the period. 47.57% of the stock is owned by institutional investors and hedge funds.

First Mid Bancshares Company Profile

First Mid Bancshares, Inc, a financial holding company, provides community banking products and services to commercial, retail, and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits, and time deposits. The company’s loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans, as well as construction and land development, 1-4 family residential properties, and multifamily residential properties loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.