Wellington Management Group LLP increased its holdings in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH – Free Report) by 13.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 503,186 shares of the bank’s stock after acquiring an additional 60,733 shares during the quarter. Wellington Management Group LLP’s holdings in First Mid Bancshares were worth $24,198,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of First Mid Bancshares during the 2nd quarter worth approximately $114,252,000. Vanguard Group Inc. grew its stake in 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 buying an additional 44,319 shares during the last quarter. Dimensional Fund Advisors LP increased its position in First Mid Bancshares by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,101,095 shares of the bank’s stock worth $45,354,000 after buying an additional 56,997 shares during the period. Geode Capital Management LLC increased its holdings 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 worth $21,313,000 after acquiring an additional 12,484 shares during the period. Finally, State Street Corp raised its holdings in shares of First Mid Bancshares by 0.9% during the fourth quarter. State Street Corp now owns 530,875 shares of the bank’s stock valued at $20,704,000 after buying an additional 4,808 shares during the last quarter. 47.57% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on FMBH shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Mid Bancshares in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods raised their target price on shares of First Mid Bancshares from $50.00 to $54.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Piper Sandler lifted their price target on shares of First Mid Bancshares from $55.00 to $62.50 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Finally, DA Davidson upped their price target on First Mid Bancshares from $47.00 to $54.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, First Mid Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.62.
First Mid Bancshares Stock Up 0.5%
FMBH stock opened at $51.33 on Friday. The company has a fifty day simple moving average of $50.25 and a 200 day simple moving average of $45.52. 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, Inc. has a 1 year low of $34.15 and a 1 year high of $53.36. The firm has a market cap of $1.37 billion, a PE ratio of 12.74 and a beta of 0.78.
First Mid Bancshares (NASDAQ:FMBH – Get Free Report) last announced its earnings results on Thursday, July 23rd. The bank reported $1.26 EPS for the quarter, topping the consensus estimate of $1.05 by $0.21. The firm had revenue of $109.32 million for the quarter, compared to the consensus estimate of $107.42 million. First Mid Bancshares had a net margin of 19.76% and a return on equity of 10.86%. Sell-side analysts anticipate that First Mid Bancshares, Inc. will post 4.69 EPS for the current fiscal year.
First Mid Bancshares Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were paid a $0.26 dividend. The ex-dividend date was Tuesday, August 18th. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. First Mid Bancshares’s dividend payout ratio is presently 25.81%.
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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