Insider Selling: First Mid Bancshares, Inc. (NASDAQ:FMBH) CEO Sells 400 Shares of Stock

First Mid Bancshares, Inc. (NASDAQ:FMBH) CEO Clay M. Dean sold 400 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $42.21, for a total transaction of $16,884.00. Following the completion of the transaction, the chief executive officer now directly owns 10,850 shares in the company, valued at approximately $457,978.50. The trade was a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

First Mid Bancshares Trading Up 0.7 %

Shares of NASDAQ FMBH opened at $42.29 on Friday. The company’s fifty day moving average is $39.44 and its 200-day moving average is $36.62. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 13.01 and a beta of 0.89. First Mid Bancshares, Inc. has a twelve month low of $28.86 and a twelve month high of $43.52. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41.

First Mid Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.27%. First Mid Bancshares’s payout ratio is 29.54%.

Institutional Investors Weigh In On First Mid Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised 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 acquiring an additional 85,434 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of First Mid Bancshares by 5.0% during the second quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank’s stock worth $25,584,000 after acquiring an additional 36,769 shares during the period. Wellington Management Group LLP raised its holdings in shares of First Mid Bancshares by 7.3% during the third quarter. Wellington Management Group LLP now owns 387,926 shares of the bank’s stock worth $15,094,000 after acquiring an additional 26,560 shares during the period. American Century Companies Inc. raised its holdings in shares of First Mid Bancshares by 23.7% during the second quarter. American Century Companies Inc. now owns 340,343 shares of the bank’s stock worth $11,190,000 after acquiring an additional 65,314 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of First Mid Bancshares by 7.1% during the second quarter. Bank of New York Mellon Corp now owns 118,048 shares of the bank’s stock worth $3,881,000 after acquiring an additional 7,849 shares during the period. 47.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on FMBH shares. Stephens raised their price objective on shares of First Mid Bancshares from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods cut shares of First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price target on the stock. in a research report on Wednesday, October 2nd. DA Davidson cut shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $44.00 to $47.00 in a research report on Tuesday, November 12th. Finally, Piper Sandler lifted their price target on shares of First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

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.