BlackRock Inc. Purchases New Position in First Mid Bancshares, Inc. $FMBH

Key Points

• BlackRock acquired a new 29,374-share stake in First Mid Bancshares during the second quarter, valued at approximately $486,000. Institutional investors and hedge funds collectively own 47.57% of the company.
• First Mid Bancshares reported quarterly EPS of $1.26, exceeding the $1.05 consensus estimate, while revenue of $109.32 million also topped expectations.
• The company raised its quarterly dividend to $0.26 per share, or $1.04 annually, representing a 2.0% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $54.62.

BlackRock Inc. acquired a new stake in First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 29,374 shares of the bank's stock, valued at approximately $486,000. BlackRock Inc. owned 0.11% of First Mid Bancshares at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Clearstead Advisors LLC increased its position in shares of First Mid Bancshares by 147.2% during the fourth quarter. Clearstead Advisors LLC now owns 848 shares of the bank's stock worth $33,000 after acquiring an additional 505 shares during the last quarter. Strs Ohio bought a new position in shares of First Mid Bancshares during the first quarter worth about $42,000. Aquatic Capital Management LLC grew its stake in First Mid Bancshares by 272.5% in the third quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank's stock worth $54,000 after purchasing an additional 1,052 shares in the last quarter. Deutsche Bank AG acquired a new position in First Mid Bancshares in the second quarter worth about $59,000. Finally, Federated Hermes Inc. increased its holdings in First Mid Bancshares by 32.0% in the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank's stock valued at $64,000 after buying an additional 415 shares during the last quarter. Institutional investors and hedge funds own 47.57% of the company's stock.

First Mid Bancshares Stock Performance

Shares of NASDAQ FMBH opened at $51.33 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. The firm's 50-day moving average price is $50.32 and its two-hundred day moving average price is $45.59. First Mid Bancshares, Inc. has a 52-week low of $34.15 and a 52-week high of $53.36. The stock has a market capitalization of $1.37 billion, a P/E ratio of 12.74 and a beta of 0.78.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last posted its earnings results on Thursday, July 23rd. The bank reported $1.26 EPS for the quarter, beating the consensus estimate of $1.05 by $0.21. The company had revenue of $109.32 million during 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%. As a group, sell-side analysts forecast that First Mid Bancshares, Inc. will post 4.69 earnings per share for the current year.

First Mid Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Tuesday, August 18th. This is an increase from First Mid Bancshares's previous quarterly dividend of $0.25. First Mid Bancshares's dividend payout ratio (DPR) is currently 25.81%.

Analyst Upgrades and Downgrades

FMBH has been the topic of several research reports. Weiss Ratings restated a "buy (b)" rating on shares of First Mid Bancshares in a research note on Wednesday, July 29th. Piper Sandler boosted their price target on First Mid Bancshares from $55.00 to $62.50 and gave the company an "overweight" rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their price target on First Mid Bancshares from $50.00 to $54.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Finally, DA Davidson upped their price target on First Mid Bancshares from $47.00 to $54.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, First Mid Bancshares presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.62.

First Mid Bancshares Company Profile

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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