First Mid Bancshares, Inc. (NASDAQ:FMBH) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $42.00.

A number of research analysts have recently commented on the company. Stephens raised their target price on First Mid Bancshares from $40.00 to $43.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. DA Davidson downgraded First Mid Bancshares from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $44.00 to $47.00 in a research report on Tuesday. Keefe, Bruyette & Woods cut First Mid Bancshares from an "outperform" rating to a "market perform" rating and set a $42.00 price objective on the stock. in a research note on Wednesday, October 2nd. Finally, Piper Sandler increased their target price on First Mid Bancshares from $46.00 to $47.00 and gave the company an "overweight" rating in a research report on Friday, November 1st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FMBH. EntryPoint Capital LLC purchased a new position in First Mid Bancshares during the 1st quarter valued at $29,000. CWM LLC raised its holdings in First Mid Bancshares by 344.2% in the 2nd quarter. CWM LLC now owns 884 shares of the bank's stock worth $29,000 after purchasing an additional 685 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in shares of First Mid Bancshares in the first quarter valued at approximately $208,000. Choreo LLC lifted its holdings in shares of First Mid Bancshares by 17.9% in the 2nd quarter. Choreo LLC now owns 7,568 shares of the bank's stock worth $246,000 after acquiring an additional 1,149 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of First Mid Bancshares by 84.7% in the 1st quarter. BNP Paribas Financial Markets now owns 10,774 shares of the bank's stock valued at $352,000 after purchasing an additional 4,941 shares in the last quarter. 47.57% of the stock is owned by institutional investors.

First Mid Bancshares Stock Performance

NASDAQ:FMBH traded down $0.80 during trading on Tuesday, reaching $42.40. The company's stock had a trading volume of 64,367 shares, compared to its average volume of 58,098. The firm has a 50 day moving average of $38.91 and a 200-day moving average of $36.02. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 13.29 and a beta of 0.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 0.91. First Mid Bancshares has a 12 month low of $28.86 and a 12 month high of $43.30.

First Mid Bancshares Dividend Announcement

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

About First Mid Bancshares

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.