Nuveen LLC Invests $1.87 Million in First Mid Bancshares, Inc. $FMBH

Key Points

• Nuveen LLC acquired a new position in First Mid Bancshares, purchasing 53,526 shares valued at approximately $1.87 million, resulting in ownership of 0.22% of the company.
• The recent quarterly earnings report revealed an EPS of $0.99, beating the consensus estimate of $0.91, with revenue of $88.23 million surpassing analyst expectations.
• First Mid Bancshares announced a quarterly dividend increase to $0.25 per share from the previous $0.24, reflecting a dividend yield of 2.5% and a payout ratio of 28.41%.

Nuveen LLC bought a new position in First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 53,526 shares of the bank's stock, valued at approximately $1,868,000. Nuveen LLC owned about 0.22% of First Mid Bancshares as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FMBH. Dimensional Fund Advisors LP increased its stake in shares of First Mid Bancshares by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 891,154 shares of the bank's stock worth $32,813,000 after acquiring an additional 54,285 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of First Mid Bancshares during the 4th quarter worth about $1,518,000. Bailard Inc. acquired a new stake in shares of First Mid Bancshares during the 1st quarter worth about $667,000. Wellington Management Group LLP increased its position in shares of First Mid Bancshares by 3.8% during the 4th quarter. Wellington Management Group LLP now owns 402,826 shares of the bank's stock worth $14,832,000 after purchasing an additional 14,900 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of First Mid Bancshares during the 4th quarter worth about $488,000. 47.57% of the stock is owned by institutional investors and hedge funds.

First Mid Bancshares Stock Down 0.2%

Shares of FMBH traded down $0.07 during midday trading on Monday, hitting $40.44. The company had a trading volume of 55,024 shares, compared to its average volume of 68,630. The company's 50-day simple moving average is $38.71 and its 200-day simple moving average is $36.48. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $970.56 million, a P/E ratio of 11.49 and a beta of 0.91. First Mid Bancshares, Inc. has a 1 year low of $27.58 and a 1 year high of $43.86.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.08. The business had revenue of $88.23 million during the quarter, compared to analysts' expectations 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, sell-side analysts expect that First Mid Bancshares, Inc. will post 3.61 EPS for the current year.

First Mid Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.25 per share. This is a boost from First Mid Bancshares's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. First Mid Bancshares's dividend payout ratio is 28.41%.

Insider Buying and Selling at First Mid Bancshares

In other news, CEO Clay M. Dean sold 1,553 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $37.64, for a total transaction of $58,454.92. Following the sale, the chief executive officer owned 11,229 shares of the company's stock, valued at approximately $422,659.56. This trade represents a 12.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FMBH shares. Piper Sandler raised their price objective on First Mid Bancshares from $47.00 to $49.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. DA Davidson raised their price objective on First Mid Bancshares from $39.00 to $42.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Wall Street Zen upgraded First Mid Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average 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.