Franklin Resources Inc. Purchases New Stake in First Mid Bancshares, Inc. (NASDAQ:FMBH)

Franklin Resources Inc. purchased a new stake in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 14,598 shares of the bank's stock, valued at approximately $566,000. Franklin Resources Inc. owned about 0.06% of First Mid Bancshares as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of FMBH. Bank of New York Mellon Corp increased its stake in shares of First Mid Bancshares by 7.1% in the second quarter. Bank of New York Mellon Corp now owns 118,048 shares of the bank's stock worth $3,881,000 after acquiring an additional 7,849 shares during the period. Rhumbline Advisers boosted its holdings in First Mid Bancshares by 3.3% in the second quarter. Rhumbline Advisers now owns 33,272 shares of the bank's stock valued at $1,094,000 after purchasing an additional 1,049 shares during the last quarter. Victory Capital Management Inc. grew its position in First Mid Bancshares by 2.2% during the 2nd quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank's stock worth $998,000 after purchasing an additional 650 shares during the period. Choreo LLC raised its stake in shares of First Mid Bancshares by 17.9% during the 2nd quarter. Choreo LLC now owns 7,568 shares of the bank's stock valued at $246,000 after buying an additional 1,149 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of 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 buying an additional 65,314 shares during the last quarter. 47.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FMBH shares. Piper Sandler raised their target price on First Mid Bancshares from $46.00 to $47.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Keefe, Bruyette & Woods raised their price objective on shares of First Mid Bancshares from $42.00 to $45.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Stephens cut shares of First Mid Bancshares from an "overweight" rating to an "equal weight" rating in a research note on Monday, December 9th. Finally, DA Davidson downgraded shares of First Mid Bancshares from a "buy" rating to a "neutral" rating and increased their price target for the stock from $44.00 to $47.00 in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.50.

First Mid Bancshares Price Performance

First Mid Bancshares stock traded down $0.11 during trading on Tuesday, reaching $36.82. The company had a trading volume of 68,749 shares, compared to its average volume of 58,210. 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 firm's 50-day simple moving average is $40.31 and its 200 day simple moving average is $38.16. The firm has a market capitalization of $880.44 million, a PE ratio of 11.33 and a beta of 0.91. First Mid Bancshares, Inc. has a 1-year low of $28.86 and a 1-year high of $43.86.

First Mid Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.61%. First Mid Bancshares's dividend payout ratio is currently 29.54%.

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.