First Mid Bancshares, Inc. (NASDAQ:FMBH – Get Free Report) has earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $54.62.
A number of research analysts have recently issued reports on FMBH shares. DA Davidson lifted their price objective on shares of First Mid Bancshares from $47.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods increased their price objective on First Mid Bancshares from $50.00 to $54.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Mid Bancshares in a research report on Wednesday, July 29th. Finally, Piper Sandler boosted their price target 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.
Check Out Our Latest Research Report on FMBH
First Mid Bancshares Price Performance
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 analysts’ consensus estimates of $1.05 by $0.21. The business had revenue of $109.32 million during 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%. Research analysts predict that First Mid Bancshares will post 4.71 earnings per share for the current fiscal year.
First Mid Bancshares Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, August 18th. First Mid Bancshares’s dividend payout ratio is presently 25.81%.
Institutional Investors Weigh In On First Mid Bancshares
Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of First Mid Bancshares in the 2nd quarter valued at $114,252,000. The Manufacturers Life Insurance Company acquired a new position in First Mid Bancshares during the second quarter valued at $9,906,000. Bank of New York Mellon Corp purchased a new stake in First Mid Bancshares in the second quarter valued at $5,519,000. Empowered Funds LLC acquired a new stake in First Mid Bancshares during the 2nd quarter worth about $5,502,000. Finally, Wellington Management Group LLP grew its position in First Mid Bancshares by 13.7% during the 2nd quarter. Wellington Management Group LLP now owns 503,186 shares of the bank’s stock worth $24,198,000 after purchasing an additional 60,733 shares during the period. Institutional investors and hedge funds own 47.57% of the company’s stock.
About First Mid Bancshares
First Mid Bancshares, Inc is a financial holding company headquartered in Mattoon, Illinois. Through its principal subsidiary, First Mid Bank & Trust, the company provides community banking services to individuals, families, farmers, businesses and municipalities.
Its banking services include checking and savings accounts, certificates of deposit, consumer and commercial loans, agricultural lending, mortgage services, treasury management and online banking. The company also provides wealth management, trust and investment services through First Mid Wealth Management, as well as insurance products through First Mid Insurance Group.
First Mid traces its roots to 1865 and has expanded through organic growth and acquisitions.
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