Analysts Set First Mid Bancshares, Inc. (NASDAQ:FMBH) Price Target at $43.83

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $43.83.

Several analysts have recently commented on FMBH shares. Hovde Group lowered their target price on shares of First Mid Bancshares from $48.00 to $43.00 and set an "outperform" rating for the company in a report on Friday, March 14th. Stephens reiterated a "positive" rating on shares of First Mid Bancshares in a report on Friday, May 2nd. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $40.00 target price (down previously from $43.00) on shares of First Mid Bancshares in a report on Friday, May 2nd.

First Mid Bancshares Stock Up 0.3%

FMBH traded up $0.10 during trading on Friday, hitting $35.39. 118,274 shares of the company's stock were exchanged, compared to its average volume of 63,692. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The business's 50 day moving average is $35.17 and its two-hundred day moving average is $36.26. First Mid Bancshares has a fifty-two week low of $27.58 and a fifty-two week high of $43.86. The stock has a market cap of $849.01 million, a P/E ratio of 10.53 and a beta of 0.87.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The bank reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.02. The firm had revenue of $85.21 million for the quarter, compared to the consensus estimate of $58.29 million. First Mid Bancshares had a net margin of 17.75% and a return on equity of 9.90%. As a group, equities analysts expect that First Mid Bancshares will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.96 annualized dividend and a yield of 2.71%. First Mid Bancshares's payout ratio is currently 28.57%.

Hedge Funds Weigh In On First Mid Bancshares

Institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its position in First Mid Bancshares by 72.3% during the fourth quarter. Deutsche Bank AG now owns 19,073 shares of the bank's stock valued at $702,000 after buying an additional 8,002 shares during the period. Prudential Financial Inc. boosted its position in First Mid Bancshares by 27.6% during the fourth quarter. Prudential Financial Inc. now owns 10,172 shares of the bank's stock worth $375,000 after purchasing an additional 2,200 shares during the period. Intech Investment Management LLC purchased a new position in shares of First Mid Bancshares in the fourth quarter worth about $344,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of First Mid Bancshares in the first quarter worth about $240,000. Finally, Raymond James Financial Inc. bought a new stake in shares of First Mid Bancshares in the fourth quarter valued at approximately $488,000. Institutional investors own 47.57% of the company's stock.

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.