First Mid Bancshares, Inc. (NASDAQ:FMBH) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• First Mid Bancshares, Inc. has received a moderate buy rating from analysts, with an average target price of $43.33 based on the recommendations of six rated firms.
• The company recently reported earnings per share (EPS) of $0.99, exceeding expectations and achieving a net margin of 18.32% for the last quarter.
• First Mid Bancshares has increased its quarterly dividend to $0.25, raising the annual yield to 2.6%.

First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $43.3333.

Several brokerages recently weighed in on FMBH. Wall Street Zen raised shares of First Mid Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. DA Davidson upped their price objective on First Mid Bancshares from $39.00 to $42.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, Piper Sandler boosted their price target on First Mid Bancshares from $47.00 to $49.00 and gave the stock an "overweight" rating in a report on Monday, July 28th.

First Mid Bancshares Trading Up 0.1%

NASDAQ:FMBH opened at $38.85 on Monday. First Mid Bancshares has a one year low of $27.58 and a one year high of $43.86. The business has a fifty day moving average price of $39.06 and a 200-day moving average price of $36.80. The firm has a market capitalization of $932.40 million, a price-to-earnings ratio of 11.04 and a beta of 0.91. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.93 and a quick ratio of 0.93.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last released its quarterly earnings results 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. 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 during the quarter, compared to analyst estimates of $64.42 million. Sell-side analysts forecast that First Mid Bancshares will post 3.61 EPS for the current year.

First Mid Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.25 dividend. This is a boost from First Mid Bancshares's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, August 15th. First Mid Bancshares's dividend payout ratio (DPR) is presently 28.41%.

Insider Activity

In related news, CEO Clay M. Dean sold 1,553 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $37.64, for a total value of $58,454.92. Following the completion of the sale, the chief executive officer directly owned 11,229 shares in the company, valued at $422,659.56. This trade represents a 12.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. bought a new stake in shares of First Mid Bancshares during the 1st quarter worth approximately $26,000. Meeder Asset Management Inc. purchased a new stake in First Mid Bancshares in the first quarter worth $29,000. Strs Ohio bought a new stake in shares of First Mid Bancshares during the first quarter worth $42,000. Federated Hermes Inc. boosted its stake in shares of First Mid Bancshares by 35.6% during the first quarter. Federated Hermes Inc. now owns 1,295 shares of the bank's stock valued at $45,000 after purchasing an additional 340 shares during the period. Finally, State of Wyoming boosted its stake in shares of First Mid Bancshares by 33.4% during the first quarter. State of Wyoming now owns 1,410 shares of the bank's stock valued at $49,000 after purchasing an additional 353 shares during the period. Institutional investors own 47.57% of the company's stock.

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.

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