First Mid Bancshares (NASDAQ:FMBH) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen has upgraded First Mid Bancshares from a "sell" rating to a "hold" rating, reflecting a revised outlook on the stock.
• DA Davidson raised the price target for First Mid Bancshares shares from $39.00 to $42.00, while Raymond James lowered their price target to $40.00.
• First Mid Bancshares reported a quarterly earnings per share (EPS) of $0.96, exceeding expectations of $0.94, and achieved a revenue of $85.21 million.

Wall Street Zen upgraded shares of First Mid Bancshares (NASDAQ:FMBH - Free Report) from a sell rating to a hold rating in a research note released on Saturday.

FMBH has been the topic of a number of other reports. Raymond James Financial reiterated an "outperform" rating and set a $40.00 price objective (down from $43.00) on shares of First Mid Bancshares in a research note on Friday, May 2nd. DA Davidson boosted their price objective on First Mid Bancshares from $39.00 to $42.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Stephens reiterated a "positive" rating on shares of First Mid Bancshares in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $43.33.

First Mid Bancshares Stock Performance

First Mid Bancshares stock traded down $0.45 during mid-day trading on Friday, reaching $38.92. 45,569 shares of the company's stock were exchanged, compared to its average volume of 59,764. The business's fifty day simple moving average is $37.28 and its 200 day simple moving average is $36.33. The firm has a market capitalization of $933.69 million, a PE ratio of 11.06 and a beta of 0.87. First Mid Bancshares has a one year low of $27.58 and a one year high of $43.86. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.25.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The bank reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.08. The business had revenue of $88.23 million for the quarter, compared to analyst estimates of $64.42 million. First Mid Bancshares had a return on equity of 10.19% and a net margin of 18.32%. On average, sell-side analysts expect that First Mid Bancshares will post 3.61 earnings per share 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 paid a $0.25 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.00 annualized dividend and a yield of 2.57%. This is a boost from First Mid Bancshares's previous quarterly dividend of $0.24. First Mid Bancshares's dividend payout ratio is 27.27%.

Institutional Trading of First Mid Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in FMBH. PNC Financial Services Group Inc. purchased a new position in shares of First Mid Bancshares during the 1st quarter valued at about $26,000. Sterling Capital Management LLC boosted its holdings in First Mid Bancshares by 804.9% in the 4th quarter. Sterling Capital Management LLC now owns 733 shares of the bank's stock worth $27,000 after buying an additional 652 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in First Mid Bancshares in the 1st quarter worth about $29,000. Federated Hermes Inc. boosted its holdings in First Mid Bancshares by 1,226.4% in the 4th quarter. Federated Hermes Inc. now owns 955 shares of the bank's stock worth $35,000 after buying an additional 883 shares during the last quarter. Finally, Strs Ohio acquired a new stake in First Mid Bancshares in the 1st quarter worth about $42,000. Hedge funds and other 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.