First Mid Bancshares (NASDAQ:FMBH) Announces Quarterly Earnings Results, Hits Estimates

First Mid Bancshares (NASDAQ:FMBH) released its quarterly earnings data on Thursday. The bank reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06, FiscalAI reports. First Mid Bancshares had a net margin of 18.77% and a return on equity of 10.27%. The business had revenue of $90.14 million during the quarter, compared to analyst estimates of $67.86 million.

First Mid Bancshares Price Performance

Shares of First Mid Bancshares stock opened at $41.45 on Friday. The firm has a market capitalization of $994.80 million, a PE ratio of 11.36 and a beta of 0.90. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.37. First Mid Bancshares has a 12 month low of $27.58 and a 12 month high of $44.32. The business’s 50-day moving average price is $40.37 and its 200-day moving average price is $38.85.

First Mid Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Thursday, February 12th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, February 12th. First Mid Bancshares’s dividend payout ratio is presently 27.40%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Piper Sandler reduced their price target on First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. Zacks Research lowered First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of First Mid Bancshares in a report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.80.

Insider Activity at First Mid Bancshares

In other news, CEO Clay M. Dean sold 1,099 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $42.69, for a total value of $46,916.31. Following the completion of the sale, the chief executive officer directly owned 9,624 shares in the company, valued at approximately $410,848.56. The trade was a 10.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in First Mid Bancshares by 256.9% during the 1st quarter. AQR Capital Management LLC now owns 105,648 shares of the bank’s stock valued at $3,687,000 after purchasing an additional 76,050 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its stake in First Mid Bancshares by 63.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 161,024 shares of the bank’s stock worth $6,100,000 after acquiring an additional 62,404 shares during the period. Vanguard Group Inc. raised its holdings in First Mid Bancshares by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,366,627 shares of the bank’s stock worth $51,768,000 after purchasing an additional 44,319 shares in the last quarter. Jane Street Group LLC lifted its position in shares of First Mid Bancshares by 494.1% in the 1st quarter. Jane Street Group LLC now owns 32,755 shares of the bank’s stock worth $1,143,000 after purchasing an additional 27,242 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of First Mid Bancshares by 2.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,020,833 shares of the bank’s stock valued at $38,670,000 after purchasing an additional 26,668 shares in the last quarter. Hedge funds and other institutional investors own 47.57% of the company’s stock.

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.