Ieq Capital LLC bought a new stake in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH – Free Report) during the second quarter, Holdings Channel.com reports. The fund bought 43,186 shares of the bank’s stock, valued at approximately $1,494,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in First Mid Bancshares during the 2nd quarter worth approximately $630,909,000. Vanguard Group Inc. raised its holdings in shares of First Mid Bancshares by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,366,627 shares of the bank’s stock worth $51,768,000 after acquiring an additional 44,319 shares during the period. Bank of New York Mellon Corp purchased a new position in First Mid Bancshares during the second quarter worth about $39,888,000. Dimensional Fund Advisors LP boosted its holdings in First Mid Bancshares by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,101,095 shares of the bank’s stock valued at $45,354,000 after purchasing an additional 56,997 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of First Mid Bancshares by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 546,389 shares of the bank’s stock valued at $21,313,000 after buying an additional 12,484 shares during the period. Hedge funds and other institutional investors own 47.57% of the company’s stock.
First Mid Bancshares Price Performance
Shares of FMBH opened at $50.30 on Thursday. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 12.48 and a beta of 0.78. The firm’s fifty day simple moving average is $49.75 and its 200-day simple moving average is $45.20. First Mid Bancshares, Inc. has a twelve month low of $34.15 and a twelve month high of $53.36. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.03.
First Mid Bancshares Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This is an increase from First Mid Bancshares’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. First Mid Bancshares’s dividend payout ratio is 25.81%.
Wall Street Analyst Weigh In
FMBH has been the subject of a number of recent analyst reports. Raymond James Financial restated an “outperform” rating and set a $48.00 price target on shares of First Mid Bancshares in a report on Friday, May 1st. Piper Sandler raised their target price on First Mid Bancshares from $55.00 to $62.50 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Weiss Ratings reissued a “buy (b)” rating on shares of First Mid Bancshares in a research report on Wednesday, July 29th. DA Davidson boosted their target price on First Mid Bancshares from $47.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods increased their target price on First Mid Bancshares from $50.00 to $54.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, First Mid Bancshares has a consensus rating of “Moderate Buy” and an average price target of $54.62.
View Our Latest Research Report on FMBH
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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