First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives $36.60 Average PT from Analysts

First Mid Bancshares, Inc. (NASDAQ:FMBH) has been assigned a consensus rating of “Buy” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have covered the stock in the last year is $36.60.

Several research firms have commented on FMBH. Piper Sandler cut their price target on First Mid Bancshares from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Hovde Group started coverage on First Mid Bancshares in a research report on Wednesday, June 26th. They issued an “outperform” rating and a $35.00 target price for the company.

First Mid Bancshares Stock Up 0.6 %

Shares of FMBH opened at $38.30 on Thursday. First Mid Bancshares has a 52 week low of $25.73 and a 52 week high of $40.24. The firm has a market capitalization of $915.22 million, a P/E ratio of 12.35 and a beta of 0.90. The company has a 50-day simple moving average of $34.97 and a 200-day simple moving average of $32.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.90 and a current ratio of 0.90.

First Mid Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a $0.24 dividend. This is a positive change from First Mid Bancshares’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, August 16th. First Mid Bancshares’s dividend payout ratio is currently 30.97%.

Hedge Funds Weigh In On First Mid Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of First Mid Bancshares by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank’s stock worth $25,584,000 after purchasing an additional 36,769 shares during the last quarter. American Century Companies Inc. increased its position in shares of First Mid Bancshares by 23.7% during the 2nd quarter. American Century Companies Inc. now owns 340,343 shares of the bank’s stock worth $11,190,000 after purchasing an additional 65,314 shares in the last quarter. Wellington Management Group LLP lifted its holdings in First Mid Bancshares by 5.9% during the 4th quarter. Wellington Management Group LLP now owns 294,666 shares of the bank’s stock valued at $10,213,000 after purchasing an additional 16,388 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in First Mid Bancshares by 21.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 176,704 shares of the bank’s stock valued at $6,125,000 after buying an additional 31,164 shares in the last quarter. Institutional investors own 47.57% of the company’s stock.

About First Mid Bancshares

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.