Hennion & Walsh Asset Management Inc. Makes New Investment in First Mid Bancshares, Inc. (NASDAQ:FMBH)

Hennion & Walsh Asset Management Inc. bought a new position in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 6,890 shares of the bank's stock, valued at approximately $240,000.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of First Mid Bancshares by 13,062.9% during the first quarter. GAMMA Investing LLC now owns 4,607 shares of the bank's stock worth $161,000 after buying an additional 4,572 shares during the last quarter. Wellington Management Group LLP raised its stake in First Mid Bancshares by 3.8% during the 4th quarter. Wellington Management Group LLP now owns 402,826 shares of the bank's stock valued at $14,832,000 after purchasing an additional 14,900 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in First Mid Bancshares by 19.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,605 shares of the bank's stock valued at $832,000 after purchasing an additional 3,646 shares during the last quarter. Visionary Wealth Advisors boosted its holdings in First Mid Bancshares by 11.7% in the 4th quarter. Visionary Wealth Advisors now owns 28,131 shares of the bank's stock valued at $1,036,000 after purchasing an additional 2,941 shares during the period. Finally, Two Sigma Advisers LP grew its position in First Mid Bancshares by 6.6% in the 4th quarter. Two Sigma Advisers LP now owns 8,100 shares of the bank's stock worth $298,000 after purchasing an additional 500 shares during the last quarter. 47.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Raymond James reaffirmed an "outperform" rating and set a $40.00 price objective (down previously from $43.00) on shares of First Mid Bancshares in a research report on Friday, May 2nd. Hovde Group cut 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 research report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.83.

First Mid Bancshares Price Performance

NASDAQ:FMBH traded up $0.90 during mid-day trading on Tuesday, hitting $37.36. The company's stock had a trading volume of 96,600 shares, compared to its average volume of 62,700. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41. The stock has a fifty day moving average of $34.42 and a 200-day moving average of $36.61. The company has a market capitalization of $896.23 million, a price-to-earnings ratio of 11.36 and a beta of 0.87. First Mid Bancshares, Inc. has a fifty-two week low of $27.58 and a fifty-two week high of $43.86.

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

First Mid Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were given a $0.24 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.57%. First Mid Bancshares's dividend payout ratio (DPR) is presently 28.57%.

First Mid Bancshares Profile

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.