Piper Sandler Increases First Mid Bancshares (NASDAQ:FMBH) Price Target to $47.00

First Mid Bancshares (NASDAQ:FMBH) had its price target raised by Piper Sandler from $46.00 to $47.00 in a research note published on Friday, Benzinga reports. Piper Sandler currently has an overweight rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods downgraded shares of First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 target price for the company. in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

First Mid Bancshares Trading Down 0.9 %

Shares of NASDAQ:FMBH opened at $37.81 on Friday. First Mid Bancshares has a 52-week low of $28.04 and a 52-week high of $41.02. The company has a market capitalization of $904.04 million, a P/E ratio of 11.63 and a beta of 0.89. The company has a 50-day simple moving average of $38.83 and a 200 day simple moving average of $35.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 0.91.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Thursday, August 1st. The bank reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.05. First Mid Bancshares had a net margin of 17.32% and a return on equity of 10.56%. The business had revenue of $79.19 million during the quarter, compared to the consensus estimate of $78.25 million. Sell-side analysts forecast that First Mid Bancshares will post 3.47 earnings per share for the current year.

First Mid Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.96 annualized dividend and a yield of 2.54%. First Mid Bancshares’s dividend payout ratio (DPR) is presently 29.54%.

Institutional Investors Weigh In On First Mid Bancshares

Several hedge funds have recently bought and sold shares of FMBH. BNP Paribas Financial Markets lifted its position in First Mid Bancshares by 84.7% during the first quarter. BNP Paribas Financial Markets now owns 10,774 shares of the bank’s stock worth $352,000 after acquiring an additional 4,941 shares during the last quarter. Empowered Funds LLC lifted its position in First Mid Bancshares by 8.2% during the first quarter. Empowered Funds LLC now owns 53,206 shares of the bank’s stock worth $1,739,000 after acquiring an additional 4,015 shares during the last quarter. Russell Investments Group Ltd. lifted its position in First Mid Bancshares by 29.3% during the first quarter. Russell Investments Group Ltd. now owns 67,127 shares of the bank’s stock worth $2,194,000 after acquiring an additional 15,227 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of First Mid Bancshares by 7.1% during the first quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock worth $42,230,000 after purchasing an additional 85,434 shares during the period. Finally, EntryPoint Capital LLC bought a new position in shares of First Mid Bancshares during the first quarter worth approximately $29,000. 47.57% of the stock is currently owned by institutional investors and hedge funds.

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.