Millennium Management LLC Reduces Stock Position in First Mid Bancshares, Inc. (NASDAQ:FMBH)

Millennium Management LLC trimmed its position in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) by 85.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,418 shares of the bank's stock after selling 60,761 shares during the period. Millennium Management LLC's holdings in First Mid Bancshares were worth $384,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Deutsche Bank AG lifted its position in shares of First Mid Bancshares by 72.3% in the fourth quarter. Deutsche Bank AG now owns 19,073 shares of the bank's stock valued at $702,000 after acquiring an additional 8,002 shares in the last quarter. Prudential Financial Inc. boosted its stake in First Mid Bancshares by 27.6% in the 4th quarter. Prudential Financial Inc. now owns 10,172 shares of the bank's stock worth $375,000 after purchasing an additional 2,200 shares during the period. Intech Investment Management LLC purchased a new stake in First Mid Bancshares during the 4th quarter valued at approximately $344,000. Raymond James Financial Inc. bought a new stake in shares of First Mid Bancshares during the fourth quarter valued at approximately $488,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of First Mid Bancshares by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 176,350 shares of the bank's stock worth $6,493,000 after acquiring an additional 1,096 shares during the last quarter. Hedge funds and other institutional investors own 47.57% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Raymond James reiterated an "outperform" rating and issued a $40.00 price target (down from $43.00) on shares of First Mid Bancshares in a report on Friday, May 2nd. Hovde Group reduced their target price on First Mid Bancshares from $48.00 to $43.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. Finally, Stephens reissued a "positive" rating on shares of First Mid Bancshares in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.83.

First Mid Bancshares Trading Down 3.3%

FMBH traded down $1.20 on Friday, hitting $35.46. The company had a trading volume of 71,677 shares, compared to its average volume of 63,010. The business's fifty day simple moving average is $34.74 and its 200 day simple moving average is $36.58. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41. First Mid Bancshares, Inc. has a 12-month low of $27.58 and a 12-month high of $43.86. The company has a market cap of $850.65 million, a PE ratio of 10.78 and a beta of 0.87.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last announced its earnings results on Wednesday, April 30th. The bank reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.02. The firm had revenue of $85.21 million during the quarter, compared to analysts' expectations of $58.29 million. First Mid Bancshares had a return on equity of 10.10% and a net margin of 17.39%. Equities research analysts expect that First Mid Bancshares, Inc. will post 3.61 EPS for the current year.

First Mid Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Thursday, May 15th were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.71%. First Mid Bancshares's dividend payout ratio (DPR) is presently 28.57%.

First Mid Bancshares Company Profile

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.