Arizona State Retirement System Makes New Investment in First Mid Bancshares, Inc. (NASDAQ:FMBH)

Arizona State Retirement System bought a new position in First Mid Bancshares, Inc. (NASDAQ:FMBH) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,006 shares of the bank’s stock, valued at approximately $208,000.

A number of other large investors have also added to or reduced their stakes in FMBH. Ballentine Partners LLC bought a new stake in First Mid Bancshares in the 4th quarter worth approximately $65,151,000. Endeavour Capital Advisors Inc. bought a new stake in First Mid Bancshares in the 3rd quarter worth approximately $10,895,000. Gendell Jeffrey L bought a new stake in First Mid Bancshares in the 3rd quarter worth approximately $5,714,000. Creative Planning bought a new stake in First Mid Bancshares in the 3rd quarter worth approximately $4,144,000. Finally, BlackRock Inc. grew its position in shares of First Mid Bancshares by 7.3% during the 2nd quarter. BlackRock Inc. now owns 1,495,439 shares of the bank’s stock valued at $36,100,000 after acquiring an additional 102,179 shares during the period. Institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Stock Up 4.3 %

FMBH opened at $31.13 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 0.91. First Mid Bancshares, Inc. has a fifty-two week low of $21.77 and a fifty-two week high of $35.83. The firm’s fifty day moving average is $30.71 and its 200 day moving average is $31.00. The stock has a market cap of $743.70 million, a price-to-earnings ratio of 9.82 and a beta of 0.87.

First Mid Bancshares (NASDAQ:FMBH) last released its earnings results on Thursday, January 25th. The bank reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. First Mid Bancshares had a net margin of 17.82% and a return on equity of 10.71%. The company had revenue of $79.23 million for the quarter, compared to analysts’ expectations of $77.10 million. On average, sell-side analysts forecast that First Mid Bancshares, Inc. will post 3.28 earnings per share for the current fiscal year.

First Mid Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Thursday, February 15th. First Mid Bancshares’s dividend payout ratio (DPR) is 29.02%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Stephens cut their price objective on shares of First Mid Bancshares from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Raymond James boosted their price objective on shares of First Mid Bancshares from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.50.

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.