Kingsview Wealth Management LLC Buys Shares of 27,266 First Mid Bancshares, Inc. $FMBH

Kingsview Wealth Management LLC purchased a new position in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 27,266 shares of the bank’s stock, valued at approximately $943,000. Kingsview Wealth Management LLC owned 0.10% of First Mid Bancshares at the end of the most recent quarter.

Several other large investors have also made changes to their positions in FMBH. Clearstead Advisors LLC increased its stake in shares of 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. Public Employees Retirement System of Ohio bought a new position in First Mid Bancshares in the second quarter valued at about $38,000. Strs Ohio bought a new position in First Mid Bancshares in the first quarter valued at about $42,000. Aquatic Capital Management LLC raised its stake 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 acquiring an additional 1,052 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in shares of First Mid Bancshares in the second quarter worth about $59,000. Institutional investors and hedge funds own 47.57% of the company’s stock.

First Mid Bancshares Stock Performance

FMBH opened at $50.34 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.95 and a quick ratio of 0.95. First Mid Bancshares, Inc. has a fifty-two week low of $34.15 and a fifty-two week high of $53.36. The company’s 50 day moving average price is $49.93 and its two-hundred day moving average price is $45.28. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 12.49 and a beta of 0.78.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.21. The company had revenue of $109.32 million for the quarter, compared to analysts’ expectations of $107.42 million. First Mid Bancshares had a net margin of 19.76% and a return on equity of 10.86%. As a group, research analysts predict that First Mid Bancshares, Inc. will post 4.69 earnings per share for the current year.

First Mid Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This is a positive change from First Mid Bancshares’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 2.1%. First Mid Bancshares’s payout ratio is currently 25.81%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FMBH shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Mid Bancshares in a report on Wednesday, July 29th. Keefe, Bruyette & Woods increased their price objective on shares of First Mid Bancshares from $50.00 to $54.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. DA Davidson raised their target price on shares of First Mid Bancshares from $47.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Piper Sandler boosted their target price 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. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, First Mid Bancshares currently 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.