Empowered Funds LLC Purchases New Shares in First Mid Bancshares, Inc. $FMBH

Key Points

• Empowered Funds purchased 47,753 shares of First Mid Bancshares in the second quarter, worth approximately $481,000, while institutional investors collectively own 47.57% of the company.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and an average price target of $54.62; recent targets range from $54.00 to $62.50.
• First Mid Bancshares exceeded quarterly earnings expectations, reporting $1.26 in EPS versus the $1.05 consensus and revenue of $109.32 million. The company also raised its quarterly dividend to $0.26 per share, equivalent to a 2.0% yield.

Empowered Funds LLC bought a new position in First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 47,753 shares of the bank's stock, valued at approximately $481,000. Empowered Funds LLC owned 0.18% of First Mid Bancshares at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FMBH. BlackRock Inc. purchased a new position in shares of First Mid Bancshares during the second quarter valued at about $114,252,000. Vanguard Group Inc. boosted its position in First Mid Bancshares by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,366,627 shares of the bank's stock valued at $51,768,000 after acquiring an additional 44,319 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of First Mid Bancshares by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,101,095 shares of the bank's stock worth $45,354,000 after acquiring an additional 56,997 shares during the period. Geode Capital Management LLC grew its holdings in shares of First Mid Bancshares by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 546,389 shares of the bank's stock worth $21,313,000 after acquiring an additional 12,484 shares during the period. Finally, State Street Corp raised its position in shares of First Mid Bancshares by 0.9% in the 4th quarter. State Street Corp now owns 530,875 shares of the bank's stock worth $20,704,000 after acquiring an additional 4,808 shares in the last quarter. Institutional investors own 47.57% of the company's stock.

Wall Street Analyst Weigh In

FMBH has been the topic of several research reports. DA Davidson lifted 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. Piper Sandler raised their price objective on First Mid Bancshares from $55.00 to $62.50 and gave the company an "overweight" rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their target price on shares of 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, Weiss Ratings reaffirmed a "buy (b)" rating on shares of First Mid Bancshares in a research report on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $54.62.

First Mid Bancshares Price Performance

Shares of NASDAQ FMBH opened at $51.33 on Monday. The firm has a market cap of $1.37 billion, a P/E ratio of 12.74 and a beta of 0.78. First Mid Bancshares, Inc. has a twelve month low of $34.15 and a twelve month high of $53.36. 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 company has a 50 day moving average of $50.25 and a 200 day moving average of $45.54.

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, topping analysts' consensus estimates of $1.05 by $0.21. First Mid Bancshares had a return on equity of 10.86% and a net margin of 19.76%.The business had revenue of $109.32 million during the quarter, compared to analyst estimates of $107.42 million. As a group, research analysts expect that First Mid Bancshares, Inc. will post 4.69 EPS for the current fiscal year.

First Mid Bancshares Increases Dividend

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

First Mid Bancshares 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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