Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in First Mid Bancshares, Inc. (NASDAQ:FMBH)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) by 48.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,370 shares of the bank’s stock after acquiring an additional 1,743 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in First Mid Bancshares were worth $186,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FMBH. Ballentine Partners LLC acquired a new position in shares of First Mid Bancshares during the 4th quarter worth about $65,151,000. Endeavour Capital Advisors Inc. acquired a new position in shares of First Mid Bancshares during the third quarter valued at approximately $10,895,000. Gendell Jeffrey L purchased a new position in shares of First Mid Bancshares in the third quarter valued at approximately $5,714,000. Vanguard Group Inc. boosted its stake in shares of First Mid Bancshares by 6.0% in the third quarter. Vanguard Group Inc. now owns 1,040,575 shares of the bank’s stock worth $27,638,000 after acquiring an additional 58,456 shares during the last quarter. Finally, Kennedy Capital Management LLC boosted its stake in shares of First Mid Bancshares by 7.3% in the third quarter. Kennedy Capital Management LLC now owns 271,994 shares of the bank’s stock worth $7,224,000 after acquiring an additional 18,490 shares during the last quarter. 47.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FMBH has been the topic of a number of research reports. Stephens decreased their price objective on First Mid Bancshares from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. Piper Sandler lowered their price target on shares of First Mid Bancshares from $39.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Finally, Raymond James increased their price objective on shares of First Mid Bancshares from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 29th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, First Mid Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

First Mid Bancshares Stock Down 0.1 %

NASDAQ FMBH opened at $32.31 on Wednesday. The business’s fifty day simple moving average is $30.96 and its 200-day simple moving average is $31.39. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.36. The firm has a market cap of $771.89 million, a PE ratio of 10.42 and a beta of 0.87. First Mid Bancshares, Inc. has a 52 week low of $21.77 and a 52 week high of $35.83.

First Mid Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Tuesday, May 14th. First Mid Bancshares’s dividend payout ratio is presently 29.68%.

First Mid Bancshares 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.