First Mid Bancshares (NASDAQ:FMBH) Price Target Cut to $43.00 by Analysts at Hovde Group

First Mid Bancshares (NASDAQ:FMBH) had its price objective lowered by Hovde Group from $48.00 to $43.00 in a research report released on Friday, Marketbeat reports. The brokerage currently has an outperform rating on the bank’s stock.

Several other equities analysts also recently issued reports on FMBH. Keefe, Bruyette & Woods raised their price target on shares of First Mid Bancshares from $42.00 to $45.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Stephens reaffirmed an “equal weight” rating and set a $43.00 price target on shares of First Mid Bancshares in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, First Mid Bancshares currently has a consensus rating of “Hold” and an average target price of $45.00.

First Mid Bancshares Price Performance

Shares of NASDAQ:FMBH opened at $35.45 on Friday. The company has a market cap of $850.16 million, a price-to-earnings ratio of 10.78 and a beta of 0.88. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a 50 day simple moving average of $37.25 and a 200 day simple moving average of $38.74. First Mid Bancshares has a one year low of $28.86 and a one year high of $43.86.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.05. First Mid Bancshares had a net margin of 17.39% and a return on equity of 10.10%. Research analysts predict that First Mid Bancshares will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Thursday, February 13th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Thursday, February 13th. First Mid Bancshares’s dividend payout ratio is presently 29.18%.

Insider Buying and Selling

In other news, Director James Edwin Zimmer bought 1,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average price of $39.87 per share, with a total value of $39,870.00. Following the completion of the purchase, the director now directly owns 4,050 shares of the company’s stock, valued at approximately $161,473.50. This represents a 32.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 7.70% of the stock is owned by insiders.

Hedge Funds Weigh In On First Mid Bancshares

Hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC raised its stake in First Mid Bancshares by 804.9% during the fourth quarter. Sterling Capital Management LLC now owns 733 shares of the bank’s stock worth $27,000 after buying an additional 652 shares during the last quarter. Federated Hermes Inc. grew its holdings in First Mid Bancshares by 1,226.4% in the fourth quarter. Federated Hermes Inc. now owns 955 shares of the bank’s stock worth $35,000 after purchasing an additional 883 shares during the period. Aquatic Capital Management LLC acquired a new stake in First Mid Bancshares in the fourth quarter worth $65,000. Tower Research Capital LLC TRC grew its holdings in First Mid Bancshares by 16.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,959 shares of the bank’s stock worth $72,000 after purchasing an additional 276 shares during the period. Finally, New York State Teachers Retirement System acquired a new stake in First Mid Bancshares in the fourth quarter worth $76,000. Institutional investors 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.