First Mid Bancshares, Inc. (NASDAQ:FMBH) Short Interest Update

First Mid Bancshares, Inc. (NASDAQ:FMBH) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 141,500 shares, a drop of 10.3% from the October 15th total of 157,700 shares. Based on an average trading volume of 59,100 shares, the short-interest ratio is currently 2.4 days.

First Mid Bancshares Stock Down 0.8 %

NASDAQ FMBH traded down $0.33 during mid-day trading on Tuesday, reaching $41.26. The stock had a trading volume of 20,428 shares, compared to its average volume of 58,209. First Mid Bancshares has a 1 year low of $28.86 and a 1 year high of $43.52. The stock has a market cap of $986.53 million, a PE ratio of 12.65 and a beta of 0.89. The company has a fifty day moving average price of $39.20 and a 200 day moving average price of $36.38. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.91 and a quick ratio of 0.91.

First Mid Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.33%. First Mid Bancshares’s dividend payout ratio is presently 29.54%.

Institutional Investors Weigh In On First Mid Bancshares

A number of hedge funds have recently added to or reduced their stakes in FMBH. EntryPoint Capital LLC purchased a new stake in First Mid Bancshares during the 1st quarter valued at $29,000. CWM LLC raised its stake in First Mid Bancshares by 344.2% during the 2nd quarter. CWM LLC now owns 884 shares of the bank’s stock valued at $29,000 after buying an additional 685 shares during the last quarter. Quantbot Technologies LP purchased a new stake in First Mid Bancshares during the 3rd quarter valued at $84,000. PDT Partners LLC purchased a new stake in shares of First Mid Bancshares in the 3rd quarter worth $203,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of First Mid Bancshares in the 1st quarter worth $208,000. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FMBH has been the subject of several research analyst reports. Stephens lifted their price objective on First Mid Bancshares from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. DA Davidson lowered First Mid Bancshares from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $44.00 to $47.00 in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods lowered First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price objective for the company. in a research note on Wednesday, October 2nd. Finally, Piper Sandler lifted 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

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.