Empowered Funds LLC Grows Position in First Mid Bancshares, Inc. (NASDAQ:FMBH)

Empowered Funds LLC raised its position in First Mid Bancshares, Inc. (NASDAQ:FMBH) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,114 shares of the bank’s stock after purchasing an additional 2,948 shares during the quarter. Empowered Funds LLC’s holdings in First Mid Bancshares were worth $2,339,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Russell Investments Group Ltd. raised its holdings in shares of First Mid Bancshares by 29.3% in the 1st quarter. Russell Investments Group Ltd. now owns 67,127 shares of the bank’s stock worth $2,194,000 after purchasing an additional 15,227 shares during the period. Vanguard Group Inc. raised its holdings in shares of First Mid Bancshares by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock worth $42,230,000 after purchasing an additional 85,434 shares during the period. SG Americas Securities LLC raised its holdings in shares of First Mid Bancshares by 44.6% in the 3rd quarter. SG Americas Securities LLC now owns 12,006 shares of the bank’s stock worth $467,000 after purchasing an additional 3,703 shares during the period. Victory Capital Management Inc. raised its holdings in shares of First Mid Bancshares by 2.2% in the 2nd quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock worth $998,000 after purchasing an additional 650 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of First Mid Bancshares by 106.4% in the 2nd quarter. AQR Capital Management LLC now owns 31,333 shares of the bank’s stock worth $1,030,000 after purchasing an additional 16,150 shares during the period. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

First Mid Bancshares Price Performance

Shares of NASDAQ FMBH opened at $41.29 on Wednesday. First Mid Bancshares, Inc. has a fifty-two week low of $28.86 and a fifty-two week high of $43.52. The business has a 50 day moving average price of $39.25 and a two-hundred day moving average price of $36.45. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41. The firm has a market cap of $987.24 million, a PE ratio of 12.70 and a beta of 0.89.

First Mid Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.33%. First Mid Bancshares’s dividend payout ratio (DPR) is presently 29.54%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FMBH. Keefe, Bruyette & Woods downgraded First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price objective on the stock. in a report on Wednesday, October 2nd. Piper Sandler increased their target price on First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. DA Davidson lowered First Mid Bancshares from a “buy” rating to a “neutral” rating and increased their target price for the company from $44.00 to $47.00 in a research note on Tuesday, November 12th. Finally, Stephens increased their target price on First Mid Bancshares from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $42.00.

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.