First Mid Bancshares, Inc. $FMBH Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in First Mid Bancshares by 15.3%, now owning 114,051 shares valued at approximately $3.98 million.
• The company recently announced a quarterly dividend increase to $0.25 per share, reflecting a yield of 2.5%, up from the previous $0.24 per share.
• First Mid Bancshares achieved a quarterly earnings per share of $0.99, exceeding analyst estimates by $0.08, with revenues reported at $88.23 million.

Goldman Sachs Group Inc. cut its position in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) by 15.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,051 shares of the bank's stock after selling 20,534 shares during the quarter. Goldman Sachs Group Inc. owned about 0.48% of First Mid Bancshares worth $3,980,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. bought a new stake in shares of First Mid Bancshares during the first quarter valued at approximately $26,000. Meeder Asset Management Inc. bought a new stake in First Mid Bancshares in the first quarter worth $29,000. Strs Ohio bought a new stake in First Mid Bancshares in the first quarter worth $42,000. Federated Hermes Inc. boosted its holdings in First Mid Bancshares by 35.6% in the first quarter. Federated Hermes Inc. now owns 1,295 shares of the bank's stock worth $45,000 after acquiring an additional 340 shares in the last quarter. Finally, State of Wyoming boosted its holdings in First Mid Bancshares by 33.4% in the first quarter. State of Wyoming now owns 1,410 shares of the bank's stock worth $49,000 after acquiring an additional 353 shares in the last quarter. 47.57% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Clay M. Dean sold 1,553 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $37.64, for a total transaction of $58,454.92. Following the transaction, the chief executive officer directly owned 11,229 shares in the company, valued at $422,659.56. The trade was a 12.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.70% of the stock is currently owned by company insiders.

First Mid Bancshares Trading Down 3.1%

Shares of FMBH stock traded down $1.25 on Friday, reaching $39.19. 293,994 shares of the company's stock were exchanged, compared to its average volume of 55,811. The company's fifty day simple moving average is $39.05 and its 200 day simple moving average is $36.68. The stock has a market capitalization of $940.56 million, a PE ratio of 11.13 and a beta of 0.91. First Mid Bancshares, Inc. has a 52 week low of $27.58 and a 52 week high of $43.86. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.39.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The bank reported $0.99 EPS for the quarter, topping the consensus estimate of $0.91 by $0.08. The company had revenue of $88.23 million for the quarter, compared to the consensus estimate of $64.42 million. First Mid Bancshares had a return on equity of 10.09% and a net margin of 18.32%. As a group, analysts forecast that First Mid Bancshares, Inc. will post 3.61 EPS for the current year.

First Mid Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.25 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from First Mid Bancshares's previous quarterly dividend of $0.24. First Mid Bancshares's dividend payout ratio (DPR) is 28.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FMBH shares. Wall Street Zen raised First Mid Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Piper Sandler boosted 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. Finally, DA Davidson upped 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. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.