Armstrong Fleming & Moore Inc Buys Shares of 24,930 First Mid Bancshares, Inc. $FMBH

Key Points

• Armstrong Fleming & Moore Inc purchased 24,930 shares of First Mid Bancshares, Inc. valued at approximately $935,000, now owning about 0.10% of the company.
• First Mid Bancshares recently increased its quarterly dividend to $0.25 per share, marking a boost from the previous dividend of $0.24, resulting in a 2.7% dividend yield.
• The company reported quarterly earnings of $0.99 per share, surpassing estimates, with a net revenue of $88.23 million compared to expectations of $64.42 million.

Armstrong Fleming & Moore Inc bought a new stake in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 24,930 shares of the bank's stock, valued at approximately $935,000. Armstrong Fleming & Moore Inc owned approximately 0.10% of First Mid Bancshares at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in shares of First Mid Bancshares by 256.9% in 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 in the last quarter. Nuveen LLC acquired a new position in shares of First Mid Bancshares in the 1st quarter worth $1,868,000. American Century Companies Inc. grew its holdings in shares of First Mid Bancshares by 10.2% in the 1st quarter. American Century Companies Inc. now owns 496,888 shares of the bank's stock worth $17,341,000 after acquiring an additional 45,831 shares during the last quarter. Jane Street Group LLC grew its holdings 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 worth $1,143,000 after acquiring an additional 27,242 shares during the last quarter. Finally, Bailard Inc. acquired a new position in shares of First Mid Bancshares in the 1st quarter worth $667,000. Institutional investors own 47.57% of the company's stock.

First Mid Bancshares Price Performance

NASDAQ FMBH opened at $36.79 on Thursday. First Mid Bancshares, Inc. has a twelve month low of $27.58 and a twelve month high of $43.86. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $882.96 million, a PE ratio of 10.45 and a beta of 0.89. The stock has a 50-day simple moving average of $38.83 and a 200 day simple moving average of $36.90.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $0.99 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $88.23 million during the quarter, compared to analysts' expectations of $64.42 million. Research analysts anticipate that First Mid Bancshares, Inc. will post 3.61 EPS for the current year.

First Mid Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.7%. This is a boost from First Mid Bancshares's previous quarterly dividend of $0.24. First Mid Bancshares's payout ratio is presently 28.41%.

Insider Activity at First Mid Bancshares

In other First Mid Bancshares news, CEO Clay M. Dean sold 1,553 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $37.64, for a total value of $58,454.92. Following the completion of the sale, the chief executive officer owned 11,229 shares in the company, valued at approximately $422,659.56. This trade represents a 12.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FMBH. Piper Sandler lifted their target price on First Mid Bancshares from $47.00 to $49.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Weiss Ratings reiterated a "buy (b-)" rating on shares of First Mid Bancshares in a report on Wednesday. DA Davidson lifted 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. Finally, Wall Street Zen upgraded First Mid Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.33.

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.

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