Connor Clark & Lunn Investment Management Ltd. Invests $869,000 in First Mid Bancshares, Inc. (NASDAQ:FMBH)

Connor Clark & Lunn Investment Management Ltd. bought a new position in First Mid Bancshares, Inc. (NASDAQ:FMBH) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 22,331 shares of the bank’s stock, valued at approximately $869,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake 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 acquiring an additional 85,434 shares in the last quarter. SG Americas Securities LLC grew its position in First Mid Bancshares by 44.6% during the third quarter. SG Americas Securities LLC now owns 12,006 shares of the bank’s stock valued at $467,000 after buying an additional 3,703 shares during the period. Victory Capital Management Inc. grew its position in First Mid Bancshares by 2.2% during the second quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock valued at $998,000 after buying an additional 650 shares during the period. AQR Capital Management LLC grew its position in First Mid Bancshares by 106.4% during the second quarter. AQR Capital Management LLC now owns 31,333 shares of the bank’s stock valued at $1,030,000 after buying an additional 16,150 shares during the period. Finally, Bank of New York Mellon Corp grew its position in First Mid Bancshares by 7.1% during the second quarter. Bank of New York Mellon Corp now owns 118,048 shares of the bank’s stock valued at $3,881,000 after buying an additional 7,849 shares during the period. Institutional investors own 47.57% of the company’s stock.

Wall Street Analysts Forecast Growth

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

First Mid Bancshares Price Performance

NASDAQ FMBH opened at $42.18 on Thursday. The company has a market cap of $1.01 billion, a PE ratio of 13.13 and a beta of 0.89. First Mid Bancshares, Inc. has a 52 week low of $28.86 and a 52 week high of $43.86. 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’s 50-day simple moving average is $39.55 and its two-hundred day simple moving average is $36.78.

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 issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.28%. The ex-dividend date is Thursday, November 14th. First Mid Bancshares’s dividend payout ratio (DPR) is presently 29.54%.

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.