Brokerages Set First Mid Bancshares, Inc. (NASDAQ:FMBH) Price Target at $42.50

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) have received an average rating of "Moderate Buy" from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $42.50.

A number of brokerages have recently issued reports on FMBH. Keefe, Bruyette & Woods upped their target price on shares of First Mid Bancshares from $42.00 to $45.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Piper Sandler upped their price objective on First Mid Bancshares from $46.00 to $47.00 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 lifted their target price for the stock from $44.00 to $47.00 in a research note on Tuesday, November 12th. Finally, Stephens lowered First Mid Bancshares from an "overweight" rating to an "equal weight" rating in a report on Monday, December 9th.

Institutional Trading of First Mid Bancshares

Institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in First Mid Bancshares during the third quarter valued at approximately $84,000. PDT Partners LLC acquired a new position in shares of First Mid Bancshares during the 3rd quarter worth $203,000. Centiva Capital LP bought a new stake in shares of First Mid Bancshares during the 3rd quarter worth $213,000. BNP Paribas Financial Markets lifted its position in shares of First Mid Bancshares by 33.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,001 shares of the bank's stock worth $233,000 after buying an additional 1,510 shares during the last quarter. Finally, Choreo LLC boosted its stake in First Mid Bancshares by 17.9% in the second quarter. Choreo LLC now owns 7,568 shares of the bank's stock valued at $246,000 after buying an additional 1,149 shares in the last quarter. 47.57% of the stock is currently owned by institutional investors.

First Mid Bancshares Stock Performance

NASDAQ FMBH traded down $0.11 on Wednesday, hitting $36.82. 68,749 shares of the stock were exchanged, compared to its average volume of 58,210. The company has a market capitalization of $880.44 million, a PE ratio of 11.33 and a beta of 0.91. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.91 and a quick ratio of 0.91. The business's fifty day moving average is $40.22 and its 200 day moving average is $38.20. First Mid Bancshares has a 52 week low of $28.86 and a 52 week high of $43.86.

First Mid Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.24 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.61%. First Mid Bancshares's dividend payout ratio is presently 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.