First Mid Bancshares, Inc. (NASDAQ:FMBH) CEO Clay M. Dean Sells 1,553 Shares

Key Points

• Clay M. Dean, CEO of First Mid Bancshares, sold 1,553 shares at an average price of $37.64, which marked a 12.15% decrease in his ownership.
• The company has announced a quarterly dividend increase to $0.25, resulting in a yield of 2.7%, set to be paid on August 29th.
• First Mid Bancshares reported $0.99 EPS for the last quarter, exceeding expectations by $0.08 and showing a net margin of 18.32%.

First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) CEO Clay M. Dean sold 1,553 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $37.64, for a total value of $58,454.92. Following the completion of the transaction, the chief executive officer directly owned 11,229 shares in the company, valued at approximately $422,659.56. This trade represents a 12.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

First Mid Bancshares Stock Down 0.7%

NASDAQ:FMBH traded down $0.28 during mid-day trading on Thursday, hitting $37.36. 28,115 shares of the company's stock traded hands, compared to its average volume of 64,386. First Mid Bancshares, Inc. has a twelve month low of $27.58 and a twelve month high of $43.86. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $896.27 million, a P/E ratio of 10.61 and a beta of 0.91. The company has a fifty day moving average of $37.58 and a 200 day moving average of $36.40.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last posted its earnings results on Thursday, July 24th. The bank reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.08. The company had revenue of $88.23 million during the quarter, compared to the consensus estimate of $64.42 million. First Mid Bancshares had a net margin of 18.32% and a return on equity of 10.19%. On average, analysts forecast that First Mid Bancshares, Inc. will post 3.61 EPS for the current year.

First Mid Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, August 15th. This is a positive change from First Mid Bancshares's previous quarterly dividend of $0.24. First Mid Bancshares's payout ratio is presently 27.27%.

Institutional Investors Weigh In On First Mid Bancshares

Several large investors have recently bought and sold shares of FMBH. Teacher Retirement System of Texas boosted its stake in First Mid Bancshares by 2.3% during the second quarter. Teacher Retirement System of Texas now owns 24,002 shares of the bank's stock worth $900,000 after buying an additional 537 shares during the period. CWM LLC grew its position in shares of First Mid Bancshares by 30.5% in the 2nd quarter. CWM LLC now owns 4,948 shares of the bank's stock valued at $186,000 after buying an additional 1,157 shares during the last quarter. Armstrong Fleming & Moore Inc purchased a new position in shares of First Mid Bancshares during the second quarter worth approximately $935,000. Strs Ohio purchased a new position in First Mid Bancshares in the 1st quarter valued at $42,000. Finally, Jane Street Group LLC lifted its holdings in shares of First Mid Bancshares by 494.1% in the 1st quarter. Jane Street Group LLC now owns 32,755 shares of the bank's stock valued at $1,143,000 after buying an additional 27,242 shares during the period. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FMBH. Piper Sandler lifted their target price on First Mid Bancshares from $47.00 to $49.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Raymond James Financial reissued an "outperform" rating and issued a $40.00 price objective (down from $43.00) on shares of First Mid Bancshares in a research report on Friday, May 2nd. Stephens reiterated a "positive" rating on shares of First Mid Bancshares in a research note on Friday, May 2nd. DA Davidson upped their price target on shares of First Mid Bancshares from $39.00 to $42.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Finally, Wall Street Zen raised First Mid Bancshares from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.

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