First Mid Bancshares, Inc. (NASDAQ:FMBH) Stock Has Consensus Target Price of $54.62

by · The Markets Daily

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH – Get Free Report) have received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $54.62.

A number of analysts have recently commented on the company. 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 research note on Monday, July 27th. Weiss Ratings upgraded shares of First Mid Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. 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, July 28th. Finally, Keefe, Bruyette & Woods lifted their target price on First Mid Bancshares from $50.00 to $54.00 and gave the stock a “market perform” rating in a report on Monday, July 27th.

Get Our Latest Stock Analysis on FMBH

First Mid Bancshares Stock Up 1.2%

Shares of NASDAQ:FMBH opened at $49.29 on Friday. First Mid Bancshares has a 52 week low of $34.15 and a 52 week high of $53.36. The company’s fifty day moving average is $50.20 and its 200-day moving average is $47.32. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $1.31 billion, a PE ratio of 12.23 and a beta of 0.80.

First Mid Bancshares (NASDAQ:FMBH – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.21. First Mid Bancshares had a return on equity of 10.86% and a net margin of 19.76%. The firm had revenue of $109.32 million during the quarter, compared to the consensus estimate of $107.42 million. Equities research analysts predict that First Mid Bancshares will post 4.74 earnings per share for the current fiscal year.

First Mid Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were given a $0.26 dividend. 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 yield of 2.1%. The ex-dividend date was Tuesday, August 18th. First Mid Bancshares’s dividend payout ratio (DPR) is presently 25.81%.

Institutional Investors Weigh In On First Mid Bancshares

A number of institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new stake in shares of First Mid Bancshares during the 2nd quarter valued at about $31,000. Quantbot Technologies LP bought a new stake in First Mid Bancshares in the 2nd quarter worth about $62,000. PNC Financial Services Group Inc. boosted its position in First Mid Bancshares by 23.5% in the first quarter. PNC Financial Services Group Inc. now owns 4,455 shares of the bank’s stock worth $184,000 after purchasing an additional 848 shares during the last quarter. Equitable Holdings Inc. bought a new stake in First Mid Bancshares in the second quarter worth about $216,000. Finally, Pictet Asset Management Holding SA bought a new position in First Mid Bancshares during the first quarter valued at $209,000. 47.57% of the stock is owned by institutional investors.

First Mid Bancshares Company Profile

(Get Free Report)

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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