First Mid Bancshares, Inc. $FMBH Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its position in First Mid Bancshares, Inc. (NASDAQ:FMBH) by 59.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,925 shares of the bank’s stock after buying an additional 10,397 shares during the period. Quantinno Capital Management LP’s holdings in First Mid Bancshares were worth $1,150,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FMBH. Vanguard Group Inc. lifted its holdings in shares of First Mid Bancshares by 3.4% in the third quarter. Vanguard Group Inc. now owns 1,366,627 shares of the bank’s stock valued at $51,768,000 after buying an additional 44,319 shares during the period. Dimensional Fund Advisors LP grew its holdings in First Mid Bancshares by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,101,095 shares of the bank’s stock worth $45,354,000 after acquiring an additional 56,997 shares during the period. Geode Capital Management LLC grew its holdings in First Mid Bancshares by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 546,389 shares of the bank’s stock worth $21,313,000 after acquiring an additional 12,484 shares during the period. State Street Corp grew its holdings in First Mid Bancshares by 0.9% during the fourth quarter. State Street Corp now owns 530,875 shares of the bank’s stock worth $20,704,000 after acquiring an additional 4,808 shares during the period. Finally, GW&K Investment Management LLC raised its position in First Mid Bancshares by 7.3% in the fourth quarter. GW&K Investment Management LLC now owns 474,651 shares of the bank’s stock worth $18,511,000 after acquiring an additional 32,301 shares in the last quarter. Institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Stock Performance

Shares of NASDAQ FMBH opened at $52.01 on Friday. The stock’s fifty day simple moving average is $48.99 and its 200 day simple moving average is $44.75. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 12.91 and a beta of 0.78. The company has a quick ratio of 0.97, a current ratio of 0.95 and a debt-to-equity ratio of 0.03. First Mid Bancshares, Inc. has a 52-week low of $34.15 and a 52-week high of $53.36.

First Mid Bancshares (NASDAQ:FMBH) last announced its earnings results on Thursday, July 23rd. The bank reported $1.26 EPS for the quarter, beating the consensus estimate of $1.05 by $0.21. First Mid Bancshares had a return on equity of 10.86% and a net margin of 19.76%.The business had revenue of $109.32 million during the quarter, compared to the consensus estimate of $107.42 million. As a group, sell-side analysts forecast that First Mid Bancshares, Inc. will post 4.69 earnings per share for the current fiscal year.

First Mid Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, August 18th. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.25. First Mid Bancshares’s dividend payout ratio is presently 24.81%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FMBH. Raymond James Financial reissued an “outperform” rating and issued a $48.00 price target on shares of First Mid Bancshares in a report on Friday, May 1st. Piper Sandler lifted their price objective on shares of First Mid Bancshares from $55.00 to $62.50 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their target price on shares of First Mid Bancshares from $50.00 to $54.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of First Mid Bancshares in a research note on Wednesday, July 29th. Finally, DA Davidson raised their target price on shares of First Mid Bancshares from $47.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.62.

First Mid Bancshares 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.