Brokerages Set First Mid Bancshares, Inc. (NASDAQ:FMBH) Price Target at $36.60

First Mid Bancshares, Inc. (NASDAQ:FMBH) has earned an average rating of “Buy” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have covered the stock in the last year is $36.60.

Separately, Hovde Group started coverage on First Mid Bancshares in a report on Wednesday, June 26th. They set an “outperform” rating and a $35.00 price objective on the stock.

First Mid Bancshares Price Performance

FMBH stock opened at $39.32 on Monday. First Mid Bancshares has a 52-week low of $25.73 and a 52-week high of $40.56. The stock’s fifty day simple moving average is $37.94 and its 200-day simple moving average is $33.68. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $940.14 million, a price-to-earnings ratio of 12.68 and a beta of 0.89.

First Mid Bancshares (NASDAQ:FMBH) last posted its quarterly earnings data on Thursday, August 1st. The bank reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.05. First Mid Bancshares had a return on equity of 10.43% and a net margin of 16.75%. The business had revenue of $79.19 million for the quarter, compared to analysts’ expectations of $78.25 million. Equities research analysts expect that First Mid Bancshares will post 3.47 EPS for the current year.

First Mid Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.96 dividend on an annualized basis and a yield of 2.44%. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.23. First Mid Bancshares’s dividend payout ratio (DPR) is presently 30.97%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in First Mid Bancshares by 29.3% in the first quarter. Russell Investments Group Ltd. now owns 67,127 shares of the bank’s stock valued at $2,194,000 after acquiring an additional 15,227 shares during the last quarter. Vanguard Group Inc. lifted its stake 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of First Mid Bancshares by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 678,953 shares of the bank’s stock worth $23,533,000 after purchasing an additional 34,401 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of First Mid Bancshares by 21.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 176,704 shares of the bank’s stock worth $6,125,000 after purchasing an additional 31,164 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of First Mid Bancshares by 4.4% during the fourth quarter. Swiss National Bank now owns 42,400 shares of the bank’s stock worth $1,470,000 after purchasing an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 47.57% of the company’s stock.

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.