Key Points
- Insider sale: EVP Bradley Beesley sold 6,000 shares at $44 on Feb. 4 for $264,000, cutting his stake by 32.65% to 12,378 shares, according to an SEC Form 4 filing.
- Recent results and payout: First Mid reported Q earnings of $1.06 EPS (in line) with revenue of $90.14M (above expectations) and declared a $0.25 quarterly dividend (annual $1.00) for a 2.3% yield and a 26.04% payout ratio.
- Market and analyst outlook: The bank has a market cap of about $1.07B and a PE of 11.56, and analysts give a consensus "Moderate Buy" (five Buys, two Holds) with an average price target of $43.60.
First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) EVP Bradley Beesley sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $44.00, for a total transaction of $264,000.00. Following the transaction, the executive vice president owned 12,378 shares of the company's stock, valued at approximately $544,632. This represents a 32.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
First Mid Bancshares Stock Up 0.4%
Shares of NASDAQ:FMBH opened at $44.43 on Friday. The company has a 50 day moving average price of $40.92 and a two-hundred day moving average price of $39.01. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $1.07 billion, a PE ratio of 11.56 and a beta of 0.91. First Mid Bancshares, Inc. has a 52 week low of $27.58 and a 52 week high of $44.85.
First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last posted its earnings results on Thursday, January 29th. The bank reported $1.06 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.06. First Mid Bancshares had a return on equity of 10.61% and a net margin of 19.69%.The firm had revenue of $90.14 million during the quarter, compared to analysts' expectations of $67.86 million. Analysts forecast that First Mid Bancshares, Inc. will post 3.61 earnings per share for the current year.
First Mid Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Thursday, February 12th will be given a $0.25 dividend. The ex-dividend date is Thursday, February 12th. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. First Mid Bancshares's payout ratio is currently 26.04%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on FMBH shares. Piper Sandler cut their price target on shares of First Mid Bancshares from $49.00 to $48.00 and set an "overweight" rating on the stock in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of First Mid Bancshares in a research report on Monday, December 29th. Zacks Research lowered shares of First Mid Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 5th. Finally, DA Davidson lifted their price target on First Mid Bancshares from $45.00 to $46.00 and gave the company a "neutral" rating in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.60.
Get Our Latest Stock Analysis on First Mid Bancshares
Institutional Investors Weigh In On First Mid Bancshares
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue acquired a new position in shares of First Mid Bancshares during the 3rd quarter worth about $36,000. Strs Ohio bought a new stake in First Mid Bancshares during the first quarter worth about $42,000. Aquatic Capital Management LLC boosted its position in First Mid Bancshares by 272.5% during the third quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank's stock valued at $54,000 after purchasing an additional 1,052 shares during the last quarter. Federated Hermes Inc. grew its stake in First Mid Bancshares by 32.0% in the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank's stock valued at $64,000 after purchasing an additional 415 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of First Mid Bancshares by 176.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,075 shares of the bank's stock worth $78,000 after purchasing an additional 1,324 shares during the last quarter. 47.57% of the stock is currently owned by institutional investors and hedge funds.
About First Mid Bancshares
(
Get Free Report)
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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