Trexquant Investment LP Makes New Investment in First Mid Bancshares, Inc. $FMBH

Key Points

• Trexquant Investment LP acquired 10,765 shares of First Mid Bancshares, Inc. worth approximately $376,000 in the first quarter.
• First Mid Bancshares reported $0.99 EPS for the last quarter, exceeding analysts' expectations of $0.91.
• The company announced a dividend increase from $0.24 to $0.25 per share, resulting in a 2.5% yield for investors.

Trexquant Investment LP bought a new stake in First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,765 shares of the bank's stock, valued at approximately $376,000.

Several other large investors have also modified their holdings of FMBH. Price T Rowe Associates Inc. MD boosted its holdings in shares of First Mid Bancshares by 18.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,884 shares of the bank's stock valued at $328,000 after buying an additional 1,389 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of First Mid Bancshares by 5.2% in the 4th quarter. Northern Trust Corp now owns 221,975 shares of the bank's stock valued at $8,173,000 after buying an additional 10,925 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of First Mid Bancshares by 28.6% in the 4th quarter. Bank of America Corp DE now owns 27,531 shares of the bank's stock valued at $1,014,000 after buying an additional 6,120 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of First Mid Bancshares by 72.3% in the 4th quarter. Deutsche Bank AG now owns 19,073 shares of the bank's stock valued at $702,000 after buying an additional 8,002 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of First Mid Bancshares by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,016 shares of the bank's stock valued at $479,000 after buying an additional 458 shares in the last quarter. Institutional investors and hedge funds own 47.57% of the company's stock.

Analyst Ratings Changes

FMBH has been the subject of several research analyst reports. Wall Street Zen upgraded shares of First Mid Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Piper Sandler increased their price target on shares of First Mid Bancshares from $47.00 to $49.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, DA Davidson increased their price target on shares of First Mid Bancshares from $39.00 to $42.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, First Mid Bancshares currently has a consensus rating of "Moderate Buy" and an average price target of $43.33.

First Mid Bancshares Stock Performance

NASDAQ:FMBH traded down $0.72 during trading hours on Friday, reaching $39.40. 33,364 shares of the company's stock were exchanged, compared to its average volume of 55,788. The firm has a market capitalization of $945.60 million, a price-to-earnings ratio of 11.19 and a beta of 0.91. The company has a 50-day moving average of $39.04 and a 200 day moving average of $36.60. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.39. First Mid Bancshares, Inc. has a 1-year low of $27.58 and a 1-year high of $43.86.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The bank reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.08. The firm had revenue of $88.23 million during the quarter, compared to analysts' expectations of $64.42 million. First Mid Bancshares had a net margin of 18.32% and a return on equity of 10.09%. Research analysts anticipate that First Mid Bancshares, Inc. will post 3.61 EPS for the current year.

First Mid Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, August 15th. This is an increase from First Mid Bancshares's previous quarterly dividend of $0.24. First Mid Bancshares's payout ratio is currently 28.41%.

Insider Buying and Selling

In other First Mid Bancshares news, CEO Clay M. Dean sold 1,553 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $37.64, for a total transaction of $58,454.92. Following the completion of the transaction, the chief executive officer owned 11,229 shares in the company, valued at approximately $422,659.56. This represents a 12.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.20% of the company's stock.

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.