Northern Trust Corp Boosts Stake in First Mid Bancshares, Inc. (NASDAQ:FMBH)

Northern Trust Corp increased its holdings in First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) by 5.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 221,975 shares of the bank's stock after buying an additional 10,925 shares during the quarter. Northern Trust Corp owned about 0.93% of First Mid Bancshares worth $8,173,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Sterling Capital Management LLC boosted its holdings in shares of First Mid Bancshares by 804.9% during the 4th quarter. Sterling Capital Management LLC now owns 733 shares of the bank's stock valued at $27,000 after acquiring an additional 652 shares during the last quarter. Federated Hermes Inc. boosted its holdings in First Mid Bancshares by 1,226.4% in the fourth quarter. Federated Hermes Inc. now owns 955 shares of the bank's stock worth $35,000 after purchasing an additional 883 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in First Mid Bancshares in the 4th quarter worth approximately $65,000. Tower Research Capital LLC TRC raised its stake in First Mid Bancshares by 16.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,959 shares of the bank's stock valued at $72,000 after buying an additional 276 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in First Mid Bancshares during the 4th quarter valued at $76,000. 47.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FMBH. Stephens restated a "positive" rating on shares of First Mid Bancshares in a research note on Friday, May 2nd. Hovde Group lowered 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, Raymond James restated an "outperform" rating and set a $40.00 price target (down from $43.00) on shares of First Mid Bancshares in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.83.

First Mid Bancshares Stock Performance

First Mid Bancshares stock traded down $0.20 during trading on Friday, reaching $34.97. The company had a trading volume of 64,536 shares, compared to its average volume of 61,837. The firm has a market capitalization of $838.90 million, a price-to-earnings ratio of 10.63 and a beta of 0.84. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41. The firm's 50-day simple moving average is $34.36 and its 200 day simple moving average is $37.13. First Mid Bancshares, Inc. has a 52 week low of $27.58 and a 52 week high of $43.86.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The bank reported $0.96 EPS for the quarter, topping the consensus estimate of $0.94 by $0.02. The firm had revenue of $85.21 million for the quarter, compared to the consensus estimate of $58.29 million. First Mid Bancshares had a return on equity of 10.10% and a net margin of 17.39%. Sell-side analysts forecast that First Mid Bancshares, Inc. will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.75%. First Mid Bancshares's payout ratio is 28.57%.

First Mid Bancshares 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.