Goldman Sachs Group Inc. Has $3.98 Million Position in First Mid Bancshares, Inc. $FMBH

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. trimmed its holdings in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) by 15.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,051 shares of the bank's stock after selling 20,534 shares during the period. Goldman Sachs Group Inc. owned 0.48% of First Mid Bancshares worth $3,980,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. acquired a new position in First Mid Bancshares during the first quarter valued at approximately $26,000. Meeder Asset Management Inc. acquired a new position in First Mid Bancshares during the first quarter valued at approximately $29,000. Strs Ohio acquired a new position in First Mid Bancshares during the first quarter valued at approximately $42,000. Federated Hermes Inc. grew its holdings in First Mid Bancshares by 35.6% during the first quarter. Federated Hermes Inc. now owns 1,295 shares of the bank's stock valued at $45,000 after purchasing an additional 340 shares during the period. Finally, State of Wyoming grew its holdings in First Mid Bancshares by 33.4% during the first quarter. State of Wyoming now owns 1,410 shares of the bank's stock valued at $49,000 after purchasing an additional 353 shares during the period. Institutional investors and hedge funds own 47.57% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of First Mid Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. DA Davidson upped their price target on shares of First Mid Bancshares from $39.00 to $42.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, Piper Sandler upped their price target on shares of First Mid Bancshares from $47.00 to $49.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $43.33.

First Mid Bancshares Price Performance

First Mid Bancshares stock traded down $1.25 during trading hours on Friday, reaching $39.19. 293,994 shares of the stock were exchanged, compared to its average volume of 63,715. The stock has a 50 day moving average of $39.05 and a two-hundred day moving average of $36.68. First Mid Bancshares, Inc. has a twelve month low of $27.58 and a twelve month 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. The company has a market cap of $940.56 million, a P/E ratio of 11.13 and a beta of 0.91.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The bank reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 18.32% and a return on equity of 10.09%. Equities analysts expect that First Mid Bancshares, Inc. will post 3.61 EPS for the current fiscal year.

First Mid Bancshares Increases Dividend

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

Insider Transactions at First Mid Bancshares

In other First Mid Bancshares news, CEO Clay M. Dean sold 1,553 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $37.64, for a total transaction of $58,454.92. Following the completion of the transaction, the chief executive officer owned 11,229 shares in the company, valued at approximately $422,659.56. This trade represents a 12.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.20% of the company's stock.

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.