First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts rate First Mid Bancshares a “Moderate Buy,” with three buy ratings and three holds. The average 12-month price target is $54.625, with recent targets ranging from $54 to $62.50.
• The bank exceeded quarterly expectations, reporting EPS of $1.26 versus the $1.05 consensus and revenue of $109.32 million versus $107.42 million expected.
• First Mid Bancshares increased its quarterly dividend to $0.26, or $1.04 annually, producing a 2.0% yield. The stock recently traded at $51.02, near its 52-week high of $53.36.

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six ratings firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $54.6250.

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of First Mid Bancshares from $50.00 to $54.00 and gave the stock a "market perform" rating in a research report on Monday, July 27th. Weiss Ratings restated a "buy (b)" rating on shares of First Mid Bancshares in a research report on Wednesday, July 29th. DA Davidson upped their target price on First Mid Bancshares from $47.00 to $54.00 and gave the stock a "neutral" rating in a research note on Monday, July 27th. Finally, Piper Sandler raised their target price on First Mid Bancshares from $55.00 to $62.50 and gave the company an "overweight" rating in a report on Tuesday, July 28th.

First Mid Bancshares Price Performance

FMBH stock opened at $51.02 on Monday. First Mid Bancshares has a 1-year low of $34.15 and a 1-year high of $53.36. The business's 50 day simple moving average is $50.50 and its 200 day simple moving average is $45.80. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.36 billion, a PE ratio of 12.66 and a beta of 0.78.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.21. First Mid Bancshares had a net margin of 19.76% and a return on equity of 10.86%. The firm had revenue of $109.32 million during the quarter, compared to the consensus estimate of $107.42 million. As a group, research analysts anticipate that First Mid Bancshares will post 4.69 EPS for the current year.

First Mid Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, August 18th. This is a positive change from First Mid Bancshares's previous quarterly dividend of $0.25. First Mid Bancshares's dividend payout ratio is currently 25.81%.

Institutional Trading of First Mid Bancshares

A number of hedge funds have recently made changes to their positions in FMBH. Integrated Wealth Concepts LLC acquired a new position in shares of First Mid Bancshares in the second quarter valued at approximately $31,000. Clearstead Advisors LLC boosted its position in First Mid Bancshares by 147.2% during the 4th quarter. Clearstead Advisors LLC now owns 848 shares of the bank's stock worth $33,000 after buying an additional 505 shares during the period. Strs Ohio bought a new stake in First Mid Bancshares during the 1st quarter worth approximately $42,000. Quantbot Technologies LP bought a new stake in First Mid Bancshares during the 2nd quarter worth approximately $62,000. Finally, Aquatic Capital Management LLC grew its holdings in First Mid Bancshares by 272.5% during the 3rd quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank's stock worth $54,000 after acquiring an additional 1,052 shares during the last quarter. 47.57% of the stock is owned by institutional investors and hedge funds.

About First Mid Bancshares

First Mid Bancshares, Inc is a financial services holding company headquartered in Mattoon, Illinois. Through its subsidiary, First Mid Bank & Trust, the company provides banking and related financial services to individuals, families, farmers, businesses and public-sector customers.

The company's banking offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate loans, agricultural lending, consumer loans, business financing and treasury management services.

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