Deutsche Bank AG Acquires New Holdings in First Mid Bancshares, Inc. $FMBH

Key Points

• Deutsche Bank acquired 24,400 shares of First Mid Bancshares, valued at approximately $1.17 million, while institutional investors and hedge funds collectively own 47.57% of the company.
• First Mid Bancshares exceeded quarterly earnings expectations, reporting $1.26 in EPS and $109.32 million in revenue. The company also increased its quarterly dividend to $0.26, representing a 2.1% annualized yield.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $54.62; targets recently ranged from $54 to $62.50, compared with the stock’s $50.34 opening price.

Deutsche Bank AG bought a new position in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 24,400 shares of the bank's stock, valued at approximately $1,173,000. Deutsche Bank AG owned about 0.09% of First Mid Bancshares at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Clearstead Advisors LLC grew its stake in shares of First Mid Bancshares by 147.2% in the fourth quarter. Clearstead Advisors LLC now owns 848 shares of the bank's stock worth $33,000 after purchasing an additional 505 shares during the last quarter. Strs Ohio acquired a new position in First Mid Bancshares during the 1st quarter worth about $42,000. Aquatic Capital Management LLC grew its position in shares of First Mid Bancshares by 272.5% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank's stock valued at $54,000 after buying an additional 1,052 shares during the last quarter. Federated Hermes Inc. grew its position in shares of First Mid Bancshares by 32.0% in the 2nd 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. Finally, Quantbot Technologies LP increased its stake in shares of First Mid Bancshares by 113.0% in the second quarter. Quantbot Technologies LP now owns 2,394 shares of the bank's stock valued at $90,000 after buying an additional 1,270 shares during the period. 47.57% of the stock is currently owned by institutional investors and hedge funds.

First Mid Bancshares Price Performance

First Mid Bancshares stock opened at $50.34 on Monday. First Mid Bancshares, Inc. has a 52 week low of $34.15 and a 52 week high of $53.36. The company's 50 day moving average price is $49.93 and its two-hundred day moving average price is $45.28. The stock 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 (NASDAQ:FMBH - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.21. The company had revenue of $109.32 million for the quarter, compared to analysts' expectations of $107.42 million. First Mid Bancshares had a net margin of 19.76% and a return on equity of 10.86%. On average, equities analysts predict that First Mid Bancshares, Inc. will post 4.69 earnings per share for the current year.

First Mid Bancshares Increases Dividend

The firm 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 $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 18th. This is an increase from First Mid Bancshares's previous quarterly dividend of $0.25. First Mid Bancshares's payout ratio is 25.81%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FMBH shares. Piper Sandler upped their target price 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 increased their price objective on shares of First Mid Bancshares from $50.00 to $54.00 and gave the stock a "market perform" rating in a research report on Monday, July 27th. DA Davidson boosted their target price on shares of First Mid Bancshares from $47.00 to $54.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of First Mid Bancshares in a report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, First Mid Bancshares currently has a consensus rating of "Moderate Buy" and an average price target 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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