Rhino Investment Partners Inc Has $6.49 Million Holdings in First Mid Bancshares, Inc. $FMBH

Rhino Investment Partners Inc raised its stake in First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) by 23.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,581 shares of the bank's stock after purchasing an additional 29,579 shares during the period. First Mid Bancshares makes up approximately 1.8% of Rhino Investment Partners Inc's holdings, making the stock its 24th biggest position. Rhino Investment Partners Inc owned 0.59% of First Mid Bancshares worth $6,491,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FMBH. Clearstead Advisors LLC increased its holdings in shares of First Mid Bancshares by 147.2% during the 4th quarter. Clearstead Advisors LLC now owns 848 shares of the bank's stock worth $33,000 after purchasing an additional 505 shares during the period. Strs Ohio bought a new stake in shares of First Mid Bancshares in the first quarter valued at about $42,000. Aquatic Capital Management LLC grew its position in First Mid Bancshares by 272.5% during the third quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank's stock worth $54,000 after buying an additional 1,052 shares in the last quarter. Federated Hermes Inc. grew its position in First Mid Bancshares by 32.0% during the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank's stock worth $64,000 after buying an additional 415 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in First Mid Bancshares by 113.0% during the second quarter. Quantbot Technologies LP now owns 2,394 shares of the bank's stock worth $90,000 after buying an additional 1,270 shares in the last quarter. 47.57% of the stock is currently owned by institutional investors and hedge funds.

First Mid Bancshares Stock Performance

NASDAQ FMBH opened at $52.58 on Wednesday. First Mid Bancshares, Inc. has a twelve month low of $34.15 and a twelve month high of $52.73. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.40 billion, a P/E ratio of 13.05 and a beta of 0.79. The company's 50-day simple moving average is $46.89 and its 200 day simple moving average is $43.78.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.21. The firm had revenue of $109.32 million during the quarter, compared to analysts' expectations of $107.42 million. First Mid Bancshares had a net margin of 19.76% and a return on equity of 11.17%. As a group, research analysts forecast that First Mid Bancshares, Inc. will post 4.64 earnings per share for the current fiscal year.

First Mid Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, August 18th. This is a boost from First Mid Bancshares's previous quarterly dividend of $0.25. First Mid Bancshares's payout ratio is currently 24.81%.

Wall Street Analysts Forecast Growth

Several research firms have commented on FMBH. Piper Sandler upped their price target on First Mid Bancshares from $55.00 to $62.50 and gave the company an "overweight" rating in a report on Tuesday. Keefe, Bruyette & Woods lifted their price objective on First Mid Bancshares from $50.00 to $54.00 and gave the stock a "market perform" rating in a report on Monday. DA Davidson boosted their price objective on First Mid Bancshares from $47.00 to $54.00 and gave the company a "neutral" rating in a research report on Monday. Weiss Ratings restated a "buy (b)" rating on shares of First Mid Bancshares in a research note on Friday, May 1st. Finally, Raymond James Financial restated an "outperform" rating and issued a $48.00 target price on shares of First Mid Bancshares in a research note on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, First Mid Bancshares presently has an average rating of "Moderate Buy" and a consensus price target of $54.62.

First Mid Bancshares Company Profile

First Mid Bancshares, Inc NASDAQ: FMBH, headquartered in Mattoon, Illinois, is a financial services holding company that offers a comprehensive suite of banking products and services through its main subsidiary, First Mid Bank & Trust. The company's primary business activities include commercial and retail banking, mortgage origination and servicing, wealth management and trust administration, as well as treasury and cash management solutions.

Through its branch network, First Mid provides consumer deposit products such as checking and savings accounts, certificates of deposit and online banking services.

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