First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• First Mid Bancshares has a consensus analyst rating of “Moderate Buy”, with six analysts split evenly between hold and buy ratings. The average 12-month price target is $49.50.
• The bank recently reported better-than-expected quarterly earnings, posting EPS of $1.26 versus the $1.05 consensus and slightly topping revenue estimates as well. Analysts now expect full-year EPS of 4.58.
• First Mid Bancshares also raised its quarterly dividend to $0.26 per share from $0.25, implying an annualized payout of $1.04 and a 2.0% yield.

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the six analysts that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $49.50.

A number of research analysts have weighed in on FMBH shares. Raymond James Financial restated an "outperform" rating and issued a $48.00 price target on shares of First Mid Bancshares in a research note on Friday, May 1st. Piper Sandler reiterated an "overweight" rating and set a $55.00 price objective (up from $52.00) on shares of First Mid Bancshares in a research note on Friday, May 1st. DA Davidson increased their price objective on First Mid Bancshares from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Monday, May 4th. Weiss Ratings reissued a "buy (b)" rating on shares of First Mid Bancshares in a research note on Friday, May 1st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of First Mid Bancshares from $46.00 to $48.00 and gave the stock a "market perform" rating in a report on Friday, May 1st.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FMBH. Clearstead Advisors LLC lifted its stake in First Mid Bancshares by 147.2% in the 4th quarter. Clearstead Advisors LLC now owns 848 shares of the bank's stock valued at $33,000 after purchasing an additional 505 shares during the last quarter. Strs Ohio acquired a new position in First Mid Bancshares during the first quarter worth approximately $42,000. Aquatic Capital Management LLC increased its position in 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 buying an additional 1,052 shares during the last quarter. Federated Hermes Inc. raised its stake in First Mid Bancshares by 32.0% in the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank's stock valued at $64,000 after buying an additional 415 shares during the period. Finally, Quantbot Technologies LP raised its stake in First Mid Bancshares by 113.0% in the second quarter. Quantbot Technologies LP now owns 2,394 shares of the bank's stock valued at $90,000 after buying an additional 1,270 shares during the period. 47.57% of the stock is currently owned by institutional investors and hedge funds.

First Mid Bancshares Price Performance

Shares of NASDAQ FMBH opened at $51.00 on Friday. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 12.66 and a beta of 0.79. The business has a 50-day moving average of $46.52 and a 200-day moving average of $43.57. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 0.97. First Mid Bancshares has a fifty-two week low of $34.15 and a fifty-two week high of $51.22.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last released its earnings results on Thursday, July 23rd. The bank reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.21. First Mid Bancshares had a return on equity of 11.17% and a net margin of 19.76%.The business had revenue of $109.32 million for the quarter, compared to the consensus estimate of $107.42 million. As a group, sell-side analysts predict that First Mid Bancshares will post 4.58 earnings per share for the current fiscal year.

First Mid Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a $0.26 dividend. This is an increase from First Mid Bancshares's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, August 18th. First Mid Bancshares's dividend payout ratio is 25.19%.

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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