First Mid Bancshares (NASDAQ:FMBH) Price Target Raised to $47.00 at Piper Sandler

First Mid Bancshares (NASDAQ:FMBH) had its target price lifted by Piper Sandler from $46.00 to $47.00 in a research note released on Friday morning, Benzinga reports. They currently have an overweight rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods downgraded shares of First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 target price on the stock. in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

First Mid Bancshares Trading Down 0.9 %

Shares of NASDAQ FMBH traded down $0.34 during midday trading on Friday, reaching $37.81. The stock had a trading volume of 50,145 shares, compared to its average volume of 57,297. The firm has a market cap of $904.04 million, a price-to-earnings ratio of 12.12 and a beta of 0.89. First Mid Bancshares has a twelve month low of $28.04 and a twelve month high of $41.02. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 0.91. The company’s 50 day moving average price is $38.83 and its 200 day moving average price is $35.53.

First Mid Bancshares (NASDAQ:FMBH) last released its earnings results on Thursday, August 1st. The bank reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. First Mid Bancshares had a net margin of 16.75% and a return on equity of 10.43%. The company had revenue of $79.19 million for the quarter, compared to the consensus estimate of $78.25 million. As a group, sell-side analysts expect that First Mid Bancshares will post 3.47 EPS for the current year.

First Mid Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.54%. First Mid Bancshares’s dividend payout ratio (DPR) is presently 30.77%.

Institutional Trading of First Mid Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in First Mid Bancshares by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock valued at $42,230,000 after purchasing an additional 85,434 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of First Mid Bancshares by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank’s stock worth $25,584,000 after acquiring an additional 36,769 shares in the last quarter. American Century Companies Inc. grew its stake in shares of First Mid Bancshares by 23.7% in the 2nd quarter. American Century Companies Inc. now owns 340,343 shares of the bank’s stock worth $11,190,000 after acquiring an additional 65,314 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of First Mid Bancshares by 7.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 118,048 shares of the bank’s stock worth $3,881,000 after acquiring an additional 7,849 shares in the last quarter. Finally, Creative Planning grew its stake in shares of First Mid Bancshares by 2.1% in the 2nd quarter. Creative Planning now owns 106,397 shares of the bank’s stock worth $3,498,000 after acquiring an additional 2,186 shares in the last quarter. Institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Company Profile

First Mid Bancshares, Inc, a financial holding company, provides community banking products and services to commercial, retail, and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits, and time deposits. The company’s loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans, as well as construction and land development, 1-4 family residential properties, and multifamily residential properties loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.