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

Northern Trust Corp increased its stake in First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 221,975 shares of the bank's stock after purchasing 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 quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of FMBH. Tudor Investment Corp ET AL purchased a new stake in First Mid Bancshares during the fourth quarter valued at about $1,518,000. Aquatic Capital Management LLC purchased a new stake in First Mid Bancshares in the fourth quarter worth $65,000. Price T Rowe Associates Inc. MD boosted its stake in shares of First Mid Bancshares by 18.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,884 shares of the bank's stock valued at $328,000 after purchasing an additional 1,389 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of 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 worth $72,000 after acquiring an additional 276 shares during the period. Finally, MetLife Investment Management LLC grew its stake in First Mid Bancshares by 6.0% in the fourth quarter. MetLife Investment Management LLC now owns 13,737 shares of the bank's stock worth $506,000 after purchasing an additional 776 shares during the period. 47.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

First Mid Bancshares Stock Down 1.8%

First Mid Bancshares stock traded down $0.66 during trading hours on Thursday, reaching $35.17. The stock had a trading volume of 48,790 shares, compared to its average volume of 61,621. The company has a market cap of $843.69 million, a price-to-earnings ratio of 10.69 and a beta of 0.84. The business's 50 day moving average price is $34.37 and its 200-day moving average price is $37.21. First Mid Bancshares, Inc. has a 52 week low of $27.58 and a 52 week high of $43.86. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.91 and a quick ratio of 0.91.

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 during the quarter, compared to analyst estimates of $58.29 million. First Mid Bancshares had a net margin of 17.39% and a return on equity of 10.10%. Sell-side analysts anticipate that First Mid Bancshares, Inc. will post 3.61 EPS for the current year.

First Mid Bancshares Announces Dividend

The firm 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 $0.24 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.73%. 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.