First Mid Bancshares (NASDAQ:FMBH) Downgraded to Neutral Rating by DA Davidson

DA Davidson downgraded shares of First Mid Bancshares (NASDAQ:FMBH) from a buy rating to a neutral rating in a report published on Tuesday, MarketBeat.com reports. DA Davidson currently has $47.00 price target on the bank’s stock, up from their previous price target of $44.00.

A number of other analysts have also commented on FMBH. Stephens raised their price target on First Mid Bancshares from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods lowered First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price target for the company. in a research note on Wednesday, October 2nd. Finally, Piper Sandler raised their price target on First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Two equities 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, First Mid Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

First Mid Bancshares Trading Down 0.0 %

FMBH stock traded down $0.01 on Tuesday, reaching $41.53. The company’s stock had a trading volume of 19,232 shares, compared to its average volume of 58,294. The business has a fifty day simple moving average of $39.07 and a two-hundred day simple moving average of $36.17. First Mid Bancshares has a 12-month low of $28.86 and a 12-month high of $43.52. The firm has a market cap of $992.98 million, a PE ratio of 12.78 and a beta of 0.89. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 0.91.

First Mid Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be issued a $0.24 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.31%. First Mid Bancshares’s dividend payout ratio (DPR) is 29.54%.

Hedge Funds Weigh In On First Mid Bancshares

Institutional investors have recently added to or reduced their stakes in the company. 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 valued at $42,230,000 after acquiring an additional 85,434 shares in the last quarter. American Century Companies Inc. increased 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 valued at $11,190,000 after acquiring an additional 65,314 shares in the last quarter. Dimensional Fund Advisors LP increased 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 valued at $25,584,000 after acquiring an additional 36,769 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of First Mid Bancshares during the third quarter valued at $869,000. Finally, AQR Capital Management LLC increased its holdings in shares of First Mid Bancshares by 106.4% during the second quarter. AQR Capital Management LLC now owns 31,333 shares of the bank’s stock valued at $1,030,000 after acquiring an additional 16,150 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.