Principal Financial Group Inc. acquired a new stake in First Mid Bancshares, Inc. (NASDAQ:FMBH – Free Report) during the 1st quarter, HoldingsChannel reports. The firm acquired 24,559 shares of the bank’s stock, valued at approximately $1,012,000.
Several other institutional investors and hedge funds have also bought and sold shares of FMBH. Fifth Third Bancorp grew its holdings in First Mid Bancshares by 6,163.6% during the first quarter. Fifth Third Bancorp now owns 11,713 shares of the bank’s stock valued at $482,000 after purchasing an additional 11,526 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of First Mid Bancshares in the first quarter valued at $762,000. Pictet Asset Management Holding SA bought a new stake in shares of First Mid Bancshares in the first quarter valued at $209,000. SG Americas Securities LLC lifted its position in shares of First Mid Bancshares by 17.7% during the 1st quarter. SG Americas Securities LLC now owns 9,961 shares of the bank’s stock valued at $410,000 after buying an additional 1,500 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of First Mid Bancshares by 58.4% during the 4th quarter. Hsbc Holdings PLC now owns 30,042 shares of the bank’s stock valued at $1,173,000 after buying an additional 11,072 shares during the last quarter. 47.57% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research firms have recently weighed in on FMBH. Raymond James Financial reiterated an “outperform” rating and set a $48.00 price target on shares of First Mid Bancshares in a research note on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Mid Bancshares in a report on Wednesday. Piper Sandler upped their price objective on shares of First Mid Bancshares from $55.00 to $62.50 and gave the company an “overweight” rating in a report on Tuesday. Keefe, Bruyette & Woods increased 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 research report on Monday, July 27th. Finally, DA Davidson lifted their target price on shares of First Mid Bancshares from $47.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, First Mid Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $54.62.
First Mid Bancshares Price Performance
First Mid Bancshares stock opened at $52.09 on Friday. First Mid Bancshares, Inc. has a one year low of $34.15 and a one year high of $53.36. The business has a fifty day moving average price of $47.41 and a 200-day moving average price of $44.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $1.39 billion, a P/E ratio of 12.93 and a beta of 0.79.
First Mid Bancshares (NASDAQ:FMBH – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.21. First Mid Bancshares had a return on equity of 11.17% and a net margin of 19.76%.The company had revenue of $109.32 million during the quarter, compared to analysts’ expectations of $107.42 million. As a group, equities research analysts forecast that First Mid Bancshares, Inc. will post 4.66 EPS for the current year.
First Mid Bancshares Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.04 annualized dividend and a yield of 2.0%. This is an increase from First Mid Bancshares’s previous quarterly dividend of $0.25. First Mid Bancshares’s dividend payout ratio is 24.81%.
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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