First Mid Bancshares, Inc. $FMBH Holdings Lifted by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in First Mid Bancshares, Inc. by 10.2% during the first quarter, holding approximately 2.07% of the company, valued at $17.34 million.
• First Mid Bancshares recently announced a quarterly dividend increase to $0.25 per share, up from $0.24, representing a 2.5% dividend yield.
• The company's earnings report showed a quarterly EPS of $0.99, exceeding expectations, with a revenue of $88.23 million for the quarter.

American Century Companies Inc. raised its holdings in First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) by 10.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 496,888 shares of the bank's stock after purchasing an additional 45,831 shares during the period. American Century Companies Inc. owned about 2.07% of First Mid Bancshares worth $17,341,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in FMBH. Dimensional Fund Advisors LP increased its holdings in shares of First Mid Bancshares by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 891,154 shares of the bank's stock valued at $32,813,000 after acquiring an additional 54,285 shares during the last quarter. Nuveen LLC bought a new stake in shares of First Mid Bancshares in the 1st quarter valued at approximately $1,868,000. Tudor Investment Corp ET AL bought a new stake in shares of First Mid Bancshares in the 4th quarter valued at approximately $1,518,000. Bailard Inc. bought a new stake in shares of First Mid Bancshares in the 1st quarter valued at approximately $667,000. Finally, Wellington Management Group LLP increased its holdings in shares of First Mid Bancshares by 3.8% in the 4th quarter. Wellington Management Group LLP now owns 402,826 shares of the bank's stock valued at $14,832,000 after acquiring an additional 14,900 shares during the last quarter. 47.57% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Clay M. Dean sold 1,553 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was 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 of the company's stock, valued at $422,659.56. This trade represents a 12.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FMBH. DA Davidson boosted their price target on First Mid Bancshares from $39.00 to $42.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Stephens reiterated a "positive" rating on shares of First Mid Bancshares in a report on Friday, May 2nd. Piper Sandler boosted their price target on First Mid Bancshares from $47.00 to $49.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Wall Street Zen upgraded First Mid Bancshares from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Raymond James Financial restated an "outperform" rating and set a $40.00 price objective (down from $43.00) on shares of First Mid Bancshares in a research note on Friday, May 2nd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $43.33.

First Mid Bancshares Stock Performance

FMBH traded down $0.07 during trading on Friday, reaching $40.44. 55,024 shares of the company were exchanged, compared to its average volume of 70,751. The stock has a market cap of $970.56 million, a P/E ratio of 11.49 and a beta of 0.91. The firm has a 50 day moving average of $38.63 and a 200 day moving average of $36.50. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.39. First Mid Bancshares, Inc. has a 52 week low of $27.58 and a 52 week high of $43.86.

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

First Mid Bancshares Increases Dividend

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

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.