First Mid Bancshares (NASDAQ:FMBH) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of First Mid Bancshares (NASDAQ:FMBH) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

Several other research firms also recently commented on FMBH. Hovde Group cut their price objective on shares of First Mid Bancshares from $48.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Stephens reaffirmed a “positive” rating on shares of First Mid Bancshares in a report on Friday, May 2nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $40.00 price objective (down from $43.00) on shares of First Mid Bancshares in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $43.83.

First Mid Bancshares Stock Up 0.7%

First Mid Bancshares stock opened at $39.69 on Friday. First Mid Bancshares has a twelve month low of $27.58 and a twelve month high of $43.86. The firm has a 50 day moving average price of $36.25 and a 200-day moving average price of $36.06. The company has a market capitalization of $952.04 million, a P/E ratio of 11.81 and a beta of 0.87. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.25.

First Mid Bancshares (NASDAQ:FMBH) last released its earnings results on Wednesday, April 30th. The bank reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. First Mid Bancshares had a net margin of 17.75% and a return on equity of 9.90%. The firm had revenue of $85.21 million during the quarter, compared to the consensus estimate of $58.29 million. As a group, equities analysts predict that First Mid Bancshares will post 3.61 EPS for the current year.

First Mid Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Thursday, May 15th. First Mid Bancshares’s payout ratio is 28.57%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Sterling Capital Management LLC boosted its holdings in First Mid Bancshares by 804.9% in the 4th quarter. Sterling Capital Management LLC now owns 733 shares of the bank’s stock valued at $27,000 after purchasing an additional 652 shares during the period. PNC Financial Services Group Inc. bought a new position in First Mid Bancshares in the 1st quarter valued at $26,000. Meeder Asset Management Inc. purchased a new stake in shares of First Mid Bancshares during the 1st quarter valued at $29,000. Federated Hermes Inc. raised its position in shares of First Mid Bancshares by 1,226.4% during the 4th quarter. Federated Hermes Inc. now owns 955 shares of the bank’s stock valued at $35,000 after buying an additional 883 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of First Mid Bancshares during the 1st quarter valued at $42,000. 47.57% of the stock is owned by institutional investors.

About First Mid Bancshares

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.