First Mid Bancshares, Inc. (NASDAQ:FMBH – Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $49.74 and last traded at $49.79, with a volume of 14109 shares traded. The stock had previously closed at $48.77.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on FMBH. DA Davidson increased their target price on shares of First Mid Bancshares from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods lifted their price target on shares of First Mid Bancshares from $46.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of First Mid Bancshares in a report on Friday, May 1st. Raymond James Financial reiterated an “outperform” rating and set a $48.00 price target on shares of First Mid Bancshares in a report on Friday, May 1st. Finally, Piper Sandler reissued an “overweight” rating and issued a $55.00 price objective (up from $52.00) on shares of First Mid Bancshares in a research report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.50.
Check Out Our Latest Analysis on First Mid Bancshares
First Mid Bancshares Trading Down 2.5%
First Mid Bancshares (NASDAQ:FMBH – Get Free Report) last released its earnings results on Wednesday, April 29th. The bank reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.19. First Mid Bancshares had a return on equity of 10.44% and a net margin of 19.95%.The business had revenue of $98.54 million for the quarter, compared to analyst estimates of $96.45 million. Sell-side analysts anticipate that First Mid Bancshares, Inc. will post 4.58 EPS for the current fiscal year.
First Mid Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a $0.25 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. First Mid Bancshares’s dividend payout ratio is presently 25.19%.
Institutional Investors Weigh In On First Mid Bancshares
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in First Mid Bancshares by 256.9% in the 1st quarter. AQR Capital Management LLC now owns 105,648 shares of the bank’s stock valued at $3,687,000 after buying an additional 76,050 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of First Mid Bancshares by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,566 shares of the bank’s stock worth $473,000 after acquiring an additional 550 shares during the period. Jones Financial Companies Lllp raised its stake in shares of First Mid Bancshares by 1,662.9% during the first quarter. Jones Financial Companies Lllp now owns 4,231 shares of the bank’s stock valued at $148,000 after acquiring an additional 3,991 shares in the last quarter. Empowered Funds LLC raised its stake in shares of First Mid Bancshares by 31.5% during the first quarter. Empowered Funds LLC now owns 72,134 shares of the bank’s stock valued at $2,517,000 after acquiring an additional 17,266 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of First Mid Bancshares by 494.1% during the first quarter. Jane Street Group LLC now owns 32,755 shares of the bank’s stock valued at $1,143,000 after acquiring an additional 27,242 shares in the last quarter. Institutional investors own 47.57% of the company’s stock.
About First Mid Bancshares
First Mid Bancshares, Inc (NASDAQ: FMBH), headquartered in Mattoon, Illinois, is a financial services holding company that offers a comprehensive suite of banking products and services through its main subsidiary, First Mid Bank & Trust. The company’s primary business activities include commercial and retail banking, mortgage origination and servicing, wealth management and trust administration, as well as treasury and cash management solutions.
Through its branch network, First Mid provides consumer deposit products such as checking and savings accounts, certificates of deposit and online banking services.
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