The Manufacturers Life Insurance Company Makes New $4.40 Million Investment in First Mid Bancshares, Inc. $FMBH

The Manufacturers Life Insurance Company acquired a new position in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 127,178 shares of the bank's stock, valued at approximately $4,400,000. The Manufacturers Life Insurance Company owned approximately 0.48% of First Mid Bancshares as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Clearstead Advisors LLC raised its position 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 acquiring an additional 505 shares in the last quarter. Strs Ohio acquired a new position in First Mid Bancshares in the first quarter valued at approximately $42,000. Aquatic Capital Management LLC increased its stake in First Mid Bancshares by 272.5% in the third quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank's stock valued at $54,000 after purchasing an additional 1,052 shares during the last quarter. Deutsche Bank AG purchased a new position in First Mid Bancshares in the second quarter valued at approximately $59,000. Finally, Quantbot Technologies LP acquired a new stake in First Mid Bancshares during the second quarter worth approximately $62,000. Hedge funds and other institutional investors own 47.57% of the company's stock.

First Mid Bancshares Price Performance

Shares of NASDAQ FMBH opened at $49.76 on Tuesday. The stock has a fifty day moving average price of $50.00 and a 200 day moving average price of $45.32. First Mid Bancshares, Inc. has a 1-year low of $34.15 and a 1-year high of $53.36. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $1.32 billion, a PE ratio of 12.35 and a beta of 0.78.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.21. The company had revenue of $109.32 million for 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 10.86%. Sell-side analysts forecast that First Mid Bancshares, Inc. will post 4.69 EPS for the current year.

First Mid Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.1%. This is a positive change from First Mid Bancshares's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, August 18th. First Mid Bancshares's dividend payout ratio (DPR) is presently 25.81%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FMBH. Piper Sandler upped their target price on shares of First Mid Bancshares from $55.00 to $62.50 and gave the company an "overweight" rating in a report on Tuesday, July 28th. Weiss Ratings reiterated a "buy (b)" rating on shares of First Mid Bancshares in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods boosted their price target on shares of First Mid Bancshares from $50.00 to $54.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. Finally, DA Davidson upped their price objective on shares of First Mid Bancshares from $47.00 to $54.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, First Mid Bancshares currently has a consensus rating of "Moderate Buy" and an average price target of $54.62.

First Mid Bancshares 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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