First Mid Bancshares (NASDAQ:FMBH) Coverage Initiated at Hovde Group

Hovde Group initiated coverage on shares of First Mid Bancshares (NASDAQ:FMBH) in a report published on Wednesday, MarketBeat reports. The firm issued an outperform rating and a $35.00 price target on the bank’s stock.

Separately, Piper Sandler dropped their target price on shares of First Mid Bancshares from $39.00 to $38.00 and set an overweight rating on the stock in a report on Monday, April 29th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $36.60.

First Mid Bancshares Price Performance

Shares of NASDAQ:FMBH opened at $32.88 on Wednesday. The firm has a market cap of $785.83 million, a PE ratio of 10.61 and a beta of 0.89. The firm’s fifty day moving average is $31.72 and its 200-day moving average is $31.83. 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 has a 52 week low of $23.54 and a 52 week high of $35.83.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings results on Wednesday, April 24th. The bank reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. The company had revenue of $79.95 million for the quarter, compared to analyst estimates of $80.20 million. First Mid Bancshares had a net margin of 17.01% and a return on equity of 10.56%. Sell-side analysts predict that First Mid Bancshares will post 3.23 earnings per share for the current year.

First Mid Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Tuesday, May 14th. First Mid Bancshares’s dividend payout ratio (DPR) is currently 29.68%.

Institutional Investors Weigh In On First Mid Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in FMBH. Swiss National Bank increased its position in shares of First Mid Bancshares by 2.3% during the third quarter. Swiss National Bank now owns 40,600 shares of the bank’s stock worth $1,078,000 after acquiring an additional 900 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of First Mid Bancshares by 8.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 145,540 shares of the bank’s stock valued at $3,866,000 after acquiring an additional 11,799 shares during the period. Endeavour Capital Advisors Inc. bought a new position in shares of First Mid Bancshares during the 3rd quarter valued at approximately $10,895,000. Kennedy Capital Management LLC grew its position in shares of First Mid Bancshares by 7.3% during the 3rd quarter. Kennedy Capital Management LLC now owns 271,994 shares of the bank’s stock valued at $7,224,000 after acquiring an additional 18,490 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of First Mid Bancshares by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,040,575 shares of the bank’s stock valued at $27,638,000 after acquiring an additional 58,456 shares during the period. 47.57% of the stock is owned by institutional investors.

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.