First Mid Bancshares, Inc. $FMBH Shares Sold by PDT Partners LLC

Key Points

• PDT Partners LLC has reduced its holdings in First Mid Bancshares by 50.4%, selling 6,769 shares and retaining 6,651 shares valued at approximately $232,000 at the end of the quarter.
• Several brokerages have recently adjusted their ratings and price targets for First Mid Bancshares, with DA Davidson raising the price target from $39 to $42 and Piper Sandler from $47 to $49.
• First Mid Bancshares has declared a quarterly dividend increase to $0.25 per share, representing an annualized dividend of $1.00 and a dividend yield of 2.5%.

PDT Partners LLC trimmed its holdings in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) by 50.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,651 shares of the bank's stock after selling 6,769 shares during the quarter. PDT Partners LLC's holdings in First Mid Bancshares were worth $232,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FMBH. Nuveen LLC acquired a new stake in shares of First Mid Bancshares during the 1st quarter worth about $1,868,000. American Century Companies Inc. boosted its holdings in First Mid Bancshares by 10.2% during the 1st quarter. American Century Companies Inc. now owns 496,888 shares of the bank's stock valued at $17,341,000 after acquiring an additional 45,831 shares during the period. Bailard Inc. purchased a new position in First Mid Bancshares during the 1st quarter valued at about $667,000. Wellington Management Group LLP boosted its holdings in First Mid Bancshares by 3.8% during the 4th quarter. Wellington Management Group LLP now owns 402,826 shares of the bank's stock valued at $14,832,000 after acquiring an additional 14,900 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in First Mid Bancshares during the 4th quarter valued at about $488,000. 47.57% of the stock is owned by institutional investors and hedge funds.

First Mid Bancshares Stock Up 0.9%

Shares of FMBH traded up $0.36 during midday trading on Thursday, hitting $40.12. The company had a trading volume of 43,667 shares, compared to its average volume of 64,702. The company's 50-day simple moving average is $39.04 and its 200-day simple moving average is $36.61. 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 $962.88 million, a P/E ratio of 11.40 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 issued its earnings results on Thursday, July 24th. The bank reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.08. First Mid Bancshares had a return on equity of 10.09% and a net margin of 18.32%.The business had revenue of $88.23 million for the quarter, compared to analyst estimates of $64.42 million. 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 7.70% of the company's stock.

Wall Street Analyst Weigh In

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

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.