Deprince Race & Zollo Inc. Has $4.23 Million Stake in First Mid Bancshares, Inc. (NASDAQ:FMBH)

Deprince Race & Zollo Inc. cut its stake in First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) by 7.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,799 shares of the bank's stock after selling 8,934 shares during the quarter. Deprince Race & Zollo Inc. owned about 0.48% of First Mid Bancshares worth $4,227,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Sterling Capital Management LLC raised its holdings in First Mid Bancshares by 804.9% in the 4th quarter. Sterling Capital Management LLC now owns 733 shares of the bank's stock valued at $27,000 after buying an additional 652 shares during the period. Federated Hermes Inc. lifted its stake in First Mid Bancshares by 1,226.4% in the fourth quarter. Federated Hermes Inc. now owns 955 shares of the bank's stock valued at $35,000 after buying an additional 883 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of First Mid Bancshares during the fourth quarter worth $65,000. Tower Research Capital LLC TRC boosted its holdings in First Mid Bancshares by 16.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,959 shares of the bank's stock valued at $72,000 after purchasing an additional 276 shares in the last quarter. Finally, New York State Teachers Retirement System acquired a new position in First Mid Bancshares during the fourth quarter worth $76,000. Hedge funds and other institutional investors own 47.57% of the company's stock.

Analysts Set New Price Targets

FMBH has been the subject of several research reports. Raymond James reaffirmed an "outperform" rating and set a $40.00 price target (down previously from $43.00) on shares of First Mid Bancshares in a research note on Friday, May 2nd. Hovde Group lowered their price target on First Mid Bancshares from $48.00 to $43.00 and set an "outperform" rating for the company in a report on Friday, March 14th. Finally, Stephens reiterated a "positive" rating on shares of First Mid Bancshares in a report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, First Mid Bancshares presently has an average rating of "Moderate Buy" and a consensus target price of $43.83.

First Mid Bancshares Stock Performance

Shares of NASDAQ:FMBH traded down $0.07 on Wednesday, hitting $37.25. The company's stock had a trading volume of 20,886 shares, compared to its average volume of 61,264. The company has a market capitalization of $893.33 million, a price-to-earnings ratio of 11.32 and a beta of 0.84. The stock's 50-day moving average is $34.20 and its two-hundred day moving average is $37.27. First Mid Bancshares, Inc. has a 12 month low of $27.58 and a 12 month high of $43.86. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 0.91.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The bank reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.02. First Mid Bancshares had a net margin of 17.39% and a return on equity of 10.10%. The company had revenue of $85.21 million during the quarter, compared to analyst estimates of $58.29 million. On average, equities research analysts forecast that First Mid Bancshares, Inc. will post 3.61 EPS for the current year.

First Mid Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Thursday, May 15th. First Mid Bancshares's dividend payout ratio is 28.57%.

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.