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

Key Points

• Analysts give First Mid Bancshares a “Moderate Buy” consensus, split evenly between three buy and three hold ratings. The average 12-month price target is $54.63, with Piper Sandler setting the highest target at $62.50.
• The bank reported quarterly EPS of $1.26, exceeding estimates of $1.05, while revenue of $109.32 million also topped expectations. Shares opened at $50.11, down 2.6%, but remain near their 52-week high of $53.36.
• First Mid Bancshares raised its quarterly dividend from $0.25 to $0.26 per share, equivalent to an annualized $1.04 dividend and a 2.1% yield.

First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six ratings firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $54.6250.

A number of research firms have recently issued reports on FMBH. DA Davidson lifted their target price 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. Raymond James Financial restated an "outperform" rating and set a $48.00 price target on shares of First Mid Bancshares in a research report on Friday, May 1st. Keefe, Bruyette & Woods raised their price target on First Mid Bancshares from $50.00 to $54.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of First Mid Bancshares in a research report on Wednesday, July 29th. Finally, Piper Sandler boosted their price objective on First Mid Bancshares from $55.00 to $62.50 and gave the stock an "overweight" rating in a research note on Tuesday, July 28th.

Institutional Investors Weigh In On First Mid Bancshares

Several institutional investors have recently modified their holdings of FMBH. Clearstead Advisors LLC boosted its stake in 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 during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in First Mid Bancshares in the second quarter worth $38,000. Strs Ohio acquired a new stake in First Mid Bancshares in the first quarter worth $42,000. Aquatic Capital Management LLC boosted its position in shares of 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 purchasing an additional 1,052 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in shares of First Mid Bancshares during the second quarter worth $59,000. Institutional investors and hedge funds own 47.57% of the company's stock.

First Mid Bancshares Trading Down 2.6%

Shares of First Mid Bancshares stock opened at $50.11 on Thursday. First Mid Bancshares has a 52-week low of $34.15 and a 52-week high of $53.36. The firm has a market capitalization of $1.33 billion, a PE ratio of 12.43 and a beta of 0.78. 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's fifty day moving average price is $49.33 and its two-hundred day moving average price is $44.96.

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, beating the consensus estimate of $1.05 by $0.21. The business had revenue of $109.32 million for the quarter, compared to analyst estimates of $107.42 million. First Mid Bancshares had a return on equity of 10.86% and a net margin of 19.76%. On average, analysts expect that First Mid Bancshares will post 4.69 EPS for the current year.

First Mid Bancshares Increases Dividend

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

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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