FY2024 EPS Estimates for First Mid Bancshares, Inc. Reduced by Analyst (NASDAQ:FMBH)

First Mid Bancshares, Inc. (NASDAQ:FMBH) – Analysts at DA Davidson lowered their FY2024 EPS estimates for shares of First Mid Bancshares in a research note issued on Tuesday, April 30th. DA Davidson analyst J. Rulis now expects that the bank will post earnings per share of $3.35 for the year, down from their previous estimate of $3.65. The consensus estimate for First Mid Bancshares’ current full-year earnings is $3.29 per share.

FMBH has been the subject of several other research reports. Raymond James raised their price objective on shares of First Mid Bancshares from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Piper Sandler reduced their price objective on shares of First Mid Bancshares from $39.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Stephens reduced 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, First Mid Bancshares has a consensus rating of “Moderate Buy” and an average price target of $37.00.

First Mid Bancshares Stock Up 2.1 %

First Mid Bancshares stock opened at $31.62 on Thursday. 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 has a 52-week low of $21.77 and a 52-week high of $35.83. The firm has a 50 day moving average price of $30.76 and a two-hundred day moving average price of $31.21. The firm has a market cap of $755.40 million, a price-to-earnings ratio of 10.20 and a beta of 0.87.

Institutional Investors Weigh In On First Mid Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FMBH. Ballentine Partners LLC purchased a new position in shares of First Mid Bancshares during the fourth quarter worth about $65,151,000. Gendell Jeffrey L bought a new position in First Mid Bancshares in the third quarter worth $5,714,000. Endeavour Capital Advisors Inc. bought a new position in First Mid Bancshares in the third quarter worth $10,895,000. Swiss National Bank increased its holdings in shares of First Mid Bancshares by 2.3% during the third quarter. Swiss National Bank now owns 40,600 shares of the bank’s stock valued at $1,078,000 after acquiring an additional 900 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of First Mid Bancshares by 6.0% during the third quarter. Vanguard Group Inc. now owns 1,040,575 shares of the bank’s stock valued at $27,638,000 after acquiring an additional 58,456 shares in the last quarter. 47.57% of the stock is currently owned by institutional investors.

First Mid Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Tuesday, May 14th. First Mid Bancshares’s payout ratio is 29.68%.

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.