2,375,794 Shares in First Mid Bancshares, Inc. $FMBH Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 2.38 million shares of First Mid Bancshares during the second quarter, worth approximately $114.3 million and representing an 8.92% stake. Institutional investors and hedge funds collectively own 47.57% of the company.
• First Mid Bancshares exceeded quarterly expectations, reporting $1.26 in EPS versus the $1.05 consensus and revenue of $109.32 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $54.62.
• The company raised its quarterly dividend to $0.26 per share, equivalent to an annualized $1.04 dividend and a 2.1% yield.

BlackRock Inc. acquired a new stake in First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,375,794 shares of the bank's stock, valued at approximately $114,252,000. BlackRock Inc. owned about 8.92% of First Mid Bancshares at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in shares of First Mid Bancshares by 256.9% during the 1st quarter. AQR Capital Management LLC now owns 105,648 shares of the bank's stock worth $3,687,000 after buying an additional 76,050 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of First Mid Bancshares by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,566 shares of the bank's stock worth $473,000 after acquiring an additional 550 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of First Mid Bancshares by 1,662.9% in the first quarter. Jones Financial Companies Lllp now owns 4,231 shares of the bank's stock worth $148,000 after acquiring an additional 3,991 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of First Mid Bancshares by 31.5% in the 1st quarter. Empowered Funds LLC now owns 72,134 shares of the bank's stock valued at $2,517,000 after purchasing an additional 17,266 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of First Mid Bancshares by 494.1% in the 1st quarter. Jane Street Group LLC now owns 32,755 shares of the bank's stock valued at $1,143,000 after purchasing an additional 27,242 shares in the last quarter. 47.57% of the stock is currently owned by institutional investors and hedge funds.

First Mid Bancshares Stock Up 0.1%

Shares of NASDAQ:FMBH opened at $50.34 on Friday. The firm has a market cap of $1.34 billion, a P/E ratio of 12.49 and a beta of 0.78. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. First Mid Bancshares, Inc. has a 12-month low of $34.15 and a 12-month high of $53.36. The business has a fifty day simple moving average of $49.93 and a 200 day simple moving average of $45.27.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.21. The firm had revenue of $109.32 million for the quarter, compared to analyst estimates of $107.42 million. First Mid Bancshares had a return on equity of 10.86% and a net margin of 19.76%. Analysts predict that First Mid Bancshares, Inc. will post 4.69 earnings per share for the current year.

First Mid Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.1%. The ex-dividend date is 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 (DPR) is 25.81%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. DA Davidson upped their price objective on shares of First Mid Bancshares from $47.00 to $54.00 and gave the stock a "neutral" 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. Piper Sandler boosted their target price on shares of First Mid Bancshares from $55.00 to $62.50 and gave the stock an "overweight" rating in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods upped 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 report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $54.62.

About First Mid Bancshares

First Mid Bancshares, Inc NASDAQ: FMBH, headquartered in Mattoon, Illinois, is a financial services holding company that offers a comprehensive suite of banking products and services through its main subsidiary, First Mid Bank & Trust. The company's primary business activities include commercial and retail banking, mortgage origination and servicing, wealth management and trust administration, as well as treasury and cash management solutions.

Through its branch network, First Mid provides consumer deposit products such as checking and savings accounts, certificates of deposit and online banking services.

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