Brokerages Set First Mid Bancshares, Inc. (NASDAQ:FMBH) PT at $49.50

First Mid Bancshares, Inc. (NASDAQ:FMBH) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $49.50.

Several equities research analysts have recently commented on the company. DA Davidson boosted 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. Piper Sandler restated an “overweight” rating and set a $55.00 price target (up from $52.00) on shares of First Mid Bancshares in a research note on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of First Mid Bancshares in a report on Friday, May 1st. Raymond James Financial reissued an “outperform” rating and set a $48.00 target price on shares of First Mid Bancshares in a research report on Friday, May 1st. Finally, Keefe, Bruyette & Woods raised their price target on shares of First Mid Bancshares from $46.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, May 1st.

Hedge Funds Weigh In On First Mid Bancshares

Large investors have recently bought and sold shares of the stock. Clearstead Advisors LLC raised its holdings in shares of First Mid Bancshares by 147.2% in the fourth 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 purchased a new stake in First Mid Bancshares in the 1st quarter valued at about $42,000. Aquatic Capital Management LLC lifted its position in shares of First Mid Bancshares by 272.5% during the 3rd 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 in the last quarter. Federated Hermes Inc. boosted its stake in shares of First Mid Bancshares by 32.0% in the 2nd quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after buying an additional 415 shares during the last quarter. Finally, Quantbot Technologies LP grew its holdings in shares of 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 acquiring an additional 1,270 shares in the last quarter. 47.57% of the stock is currently owned by institutional investors.

First Mid Bancshares Trading Down 1.1%

NASDAQ:FMBH opened at $48.13 on Wednesday. First Mid Bancshares has a 12 month low of $34.15 and a 12 month high of $49.64. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 12.12 and a beta of 0.79. The firm has a fifty day simple moving average of $44.98 and a two-hundred day simple moving average of $42.79.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings data on Wednesday, April 29th. The bank reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.19. First Mid Bancshares had a net margin of 19.95% and a return on equity of 10.44%. The company had revenue of $98.54 million for the quarter, compared to analysts’ expectations of $96.45 million. Analysts expect that First Mid Bancshares will post 4.58 EPS for the current fiscal year.

First Mid Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. First Mid Bancshares’s payout ratio is presently 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.