First Mid Bancshares, Inc. (NASDAQ:FMBH) Sees Large Drop in Short Interest
by Tristan Rich · The Markets DailyFirst Mid Bancshares, Inc. (NASDAQ:FMBH – Get Free Report) was the recipient of a significant decline in short interest in March. As of March 13th, there was short interest totaling 232,325 shares, a decline of 25.0% from the February 26th total of 309,952 shares. Based on an average daily volume of 121,975 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.9% of the company’s stock are sold short.
Insiders Place Their Bets
In other First Mid Bancshares news, EVP Bradley L. Beesley sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $44.00, for a total value of $264,000.00. Following the transaction, the executive vice president directly owned 12,378 shares of the company’s stock, valued at $544,632. This represents a 32.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.00% of the stock is currently owned by insiders.
Hedge Funds Weigh In On First Mid Bancshares
A number of institutional investors have recently made changes to their positions in FMBH. Clearstead Advisors LLC boosted its stake in First Mid Bancshares by 147.2% during the 4th quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock valued at $33,000 after purchasing an additional 505 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of First Mid Bancshares during the third quarter worth approximately $36,000. Strs Ohio bought a new stake in shares of First Mid Bancshares in the first quarter valued at approximately $42,000. Aquatic Capital Management LLC boosted its position in shares of First Mid Bancshares by 272.5% in the third quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock valued at $54,000 after acquiring an additional 1,052 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of First Mid Bancshares by 32.0% in the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after acquiring an additional 415 shares during the last quarter. 47.57% of the stock is currently owned by institutional investors.
First Mid Bancshares Stock Performance
First Mid Bancshares stock traded up $0.59 during trading hours on Tuesday, reaching $41.25. 90,385 shares of the company were exchanged, compared to its average volume of 117,666. First Mid Bancshares has a 12 month low of $27.58 and a 12 month high of $44.85. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $41.81 and a 200 day moving average of $39.65. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 10.74 and a beta of 0.90.
First Mid Bancshares (NASDAQ:FMBH – Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The bank reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. The company had revenue of $90.14 million for the quarter, compared to analyst estimates of $67.86 million. First Mid Bancshares had a net margin of 19.69% and a return on equity of 10.44%. As a group, research analysts anticipate that First Mid Bancshares will post 3.61 earnings per share for the current year.
First Mid Bancshares Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Thursday, February 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Thursday, February 12th. First Mid Bancshares’s dividend payout ratio is 26.04%.
Wall Street Analyst Weigh In
Several research firms have commented on FMBH. Weiss Ratings reissued a “buy (b-)” rating on shares of First Mid Bancshares in a research report on Monday, December 29th. Zacks Research downgraded shares of First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, DA Davidson lifted their price objective on shares of First Mid Bancshares from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.75.
View Our Latest Analysis on First Mid Bancshares
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.