Analysts Set First Mid Bancshares, Inc. (NASDAQ:FMBH) Price Target at $42.50

First Mid Bancshares, Inc. (NASDAQ:FMBH) has received a consensus rating of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $42.50.

A number of brokerages have issued reports on FMBH. Keefe, Bruyette & Woods upped their price objective on shares of First Mid Bancshares from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Stephens downgraded First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. DA Davidson cut First Mid Bancshares from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $44.00 to $47.00 in a research report on Tuesday, November 12th. Finally, Piper Sandler upped their price objective on First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, November 1st.

Institutional Trading of First Mid Bancshares

Hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD purchased a new stake in First Mid Bancshares in the 1st quarter worth about $208,000. CWM LLC raised its position in shares of First Mid Bancshares by 344.2% in the second quarter. CWM LLC now owns 884 shares of the bank’s stock valued at $29,000 after purchasing an additional 685 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of First Mid Bancshares by 7.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 118,048 shares of the bank’s stock valued at $3,881,000 after buying an additional 7,849 shares in the last quarter. Rhumbline Advisers boosted its holdings in First Mid Bancshares by 3.3% in the 2nd quarter. Rhumbline Advisers now owns 33,272 shares of the bank’s stock worth $1,094,000 after buying an additional 1,049 shares during the period. Finally, Victory Capital Management Inc. grew its stake in First Mid Bancshares by 2.2% in the 2nd quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock valued at $998,000 after buying an additional 650 shares in the last quarter. 47.57% of the stock is currently owned by institutional investors.

First Mid Bancshares Price Performance

FMBH opened at $41.23 on Friday. First Mid Bancshares has a 1 year low of $28.86 and a 1 year high of $43.86. 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 company has a market capitalization of $985.81 million, a price-to-earnings ratio of 12.69 and a beta of 0.91. The firm’s fifty day moving average price is $40.41 and its two-hundred day moving average price is $37.55.

First Mid Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were paid a $0.24 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.96 annualized dividend and a yield of 2.33%. First Mid Bancshares’s payout ratio is 29.54%.

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.