First Mid Bancshares, Inc. (NASDAQ:FMBH) Stock Has Consensus Target Price of $55.50

Key Points

• Analysts hold a moderately bullish view of First Mid Bancshares, with a consensus “Moderate Buy” rating and an average 12-month price target of $55.50, compared with the stock’s $51.47 opening price.
• The company reported quarterly EPS of $1.26, exceeding analyst expectations of $1.14, while revenue of $107.43 million fell slightly short of estimates.
• First Mid Bancshares declared a quarterly dividend of $0.26 per share, equivalent to $1.04 annually and a 2.0% yield; institutional investors own 47.57% of the company.

First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six analysts that are presently covering the company, Marketbeat Ratings reports. Three investment 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 analysts that have covered the stock in the last year is $55.50.

FMBH has been the topic of a number of recent analyst reports. Weiss Ratings downgraded shares of First Mid Bancshares from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, October 23rd. Keefe, Bruyette & Woods upped their target price on First Mid Bancshares from $50.00 to $54.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. DA Davidson increased their target price on First Mid Bancshares from $53.00 to $56.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Piper Sandler raised their price target on shares of First Mid Bancshares from $62.50 to $64.00 and gave the company an "overweight" rating in a report on Monday.

First Mid Bancshares Price Performance

Shares of NASDAQ FMBH opened at $51.47 on Tuesday. The stock's 50 day moving average price is $49.99 and its 200-day moving average price is $46.12. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.37 billion, a PE ratio of 11.86 and a beta of 0.80. First Mid Bancshares has a twelve month low of $34.15 and a twelve month high of $53.36.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The bank reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.12. First Mid Bancshares had a return on equity of 10.86% and a net margin of 19.76%. The firm had revenue of $107.43 million for the quarter, compared to analysts' expectations of $108.47 million. On average, equities analysts anticipate that First Mid Bancshares will post 4.76 EPS for the current year.

First Mid Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. First Mid Bancshares's dividend payout ratio is currently 23.96%.

Institutional Investors Weigh In On First Mid Bancshares

Several large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in First Mid Bancshares during the 2nd quarter valued at approximately $114,252,000. Dimensional Fund Advisors LP boosted its holdings in First Mid Bancshares by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,101,095 shares of the bank's stock worth $45,354,000 after buying an additional 56,997 shares during the last quarter. Wellington Management Group LLP raised its position in shares of First Mid Bancshares by 13.7% in the second quarter. Wellington Management Group LLP now owns 503,186 shares of the bank's stock valued at $24,198,000 after buying an additional 60,733 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in First Mid Bancshares during the second quarter worth approximately $9,906,000. Finally, Rhino Investment Partners Inc raised its position in shares of First Mid Bancshares by 23.1% during the 1st quarter. Rhino Investment Partners Inc now owns 157,581 shares of the bank's stock valued at $6,491,000 after buying an additional 29,579 shares during the period. Institutional investors own 47.57% of the company's stock.

First Mid Bancshares Company Profile

First Mid Bancshares, Inc is a financial services holding company headquartered in Mattoon, Illinois. Through its principal subsidiary, First Mid Bank & Trust, N.A., the company provides banking and related financial services to individuals, families, farmers, businesses and governmental entities.

First Mid Bank & Trust offers deposit accounts, consumer and commercial lending, agricultural loans, mortgage services, treasury and cash-management services, online and mobile banking, and other traditional banking products.

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