Globeflex Capital L P Invests $1.14 Million in First Mid Bancshares, Inc. $FMBH

Key Points

• Globeflex Capital initiated a $1.14 million position in First Mid Bancshares during the second quarter, acquiring 23,714 shares; institutional investors now own 47.57% of the company.
• First Mid Bancshares exceeded quarterly earnings expectations, reporting $1.26 in EPS versus the $1.05 consensus and revenue of $109.32 million versus $107.42 million expected.
• The company raised its quarterly dividend from $0.25 to $0.26 per share, while analysts maintain a “Moderate Buy” consensus with an average price target of $54.62.

Globeflex Capital L P acquired a new position in First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 23,714 shares of the bank's stock, valued at approximately $1,140,000. Globeflex Capital L P owned about 0.09% of First Mid Bancshares at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of FMBH. Quantbot Technologies LP acquired a new position in First Mid Bancshares during the 2nd quarter valued at $62,000. Ieq Capital LLC acquired a new stake in First Mid Bancshares in the 2nd quarter worth $588,000. Callan Family Office LLC bought a new position in shares of First Mid Bancshares during the 2nd quarter worth about $365,000. Allworth Financial LP bought a new position in shares of First Mid Bancshares during the 2nd quarter worth about $290,000. Finally, Vise Technologies Inc. acquired a new position in shares of First Mid Bancshares during the second quarter valued at about $481,000. Institutional investors own 47.57% of the company's stock.

First Mid Bancshares Stock Performance

First Mid Bancshares stock opened at $50.45 on Tuesday. The firm has a market capitalization of $1.34 billion, a P/E ratio of 12.52 and a beta of 0.78. The stock has a fifty day moving average price of $49.57 and a two-hundred day moving average price of $45.11. First Mid Bancshares, Inc. has a 52-week low of $34.15 and a 52-week high of $53.36. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.95.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last issued 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. First Mid Bancshares had a net margin of 19.76% and a return on equity of 10.86%. The company had revenue of $109.32 million for the quarter, compared to the consensus estimate of $107.42 million. As a group, analysts anticipate that First Mid Bancshares, Inc. will post 4.69 EPS for the current fiscal year.

First Mid Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. This is a boost from First Mid Bancshares's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, August 18th. First Mid Bancshares's dividend payout ratio (DPR) is presently 25.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FMBH shares. Weiss Ratings reiterated a "buy (b)" rating on shares of First Mid Bancshares in a research note on Wednesday, July 29th. Raymond James Financial restated an "outperform" rating and set a $48.00 price objective on shares of First Mid Bancshares in a research report on Friday, May 1st. Keefe, Bruyette & Woods raised their target price on 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 price target 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, Piper Sandler increased their price objective on shares of First Mid Bancshares from $55.00 to $62.50 and gave the company an "overweight" rating in a research note on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $54.62.

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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