First Mid Bancshares, Inc. (NASDAQ:FMBH) sees sharp rise in short-term interest

First Mid Bancshares, Inc. (NASDAQ:FMBH – Get Rating) experienced a significant increase in short-term interest during the month of October. As of October 15, there was short interest totaling 227,600 shares, an increase of 9.7% from the total of 207,500 shares as of September 30. Based on an average daily volume of 29,400 shares, the short interest ratio is currently 7.7 days.

Performance of First Mid Banc shares

The NASDAQ FMBH rose $0.85 during Friday trading hours, hitting $35.97. 39,457 shares of the company were traded, against an average volume of 33,503. The stock has a market capitalization of $735.59 million, a P/E ratio of 10.19 and a beta of 0.85. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt ratio of 0.78. The company’s 50-day simple moving average is $34.55 and its 200-day simple moving average is $36.17. First Mid Bancshares has a 1-year low of $31.61 and a 1-year high of $45.84.

First Mid Bancshares (NASDAQ:FMBH – Get Rating) last released its results on Thursday July 28th. The bank reported earnings per share of $0.90 for the quarter, missing the consensus estimate of $0.91 per ($0.01). The company posted revenue of $65.39 million in the quarter, compared to $65.63 million expected by analysts. First Mid Banc shares had a return on equity of 11.32% and a net margin of 25.05%. On average, equity research analysts expect First Mid Bancshares to post earnings per share of 3.77 for the current year.

Announcement of the dividend of the first Mid Bancshares

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1. Shareholders of record on Thursday, November 17 will receive a dividend of $0.23. The ex-dividend date is Wednesday, November 16. This represents an annualized dividend of $0.92 and a dividend yield of 2.56%. First Mid Bancshares payout ratio is 26.06%.

A Wall Street analyst gives his opinion

Several analysts have recently commented on FMBH shares. Raymond James upgraded shares of First Mid Bancshares from a ‘market performance’ rating to an ‘outperformance’ rating and set a target price of $45.00 for the company in a Thursday, July 7 report . StockNews.com began covering shares of First Mid Bancshares in a report on Wednesday, October 12. They issued a “hold” rating for the company. Stephens lowered its target price on shares of First Mid Bancshares from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Friday. Finally, Piper Sandler cut her price target on shares of First Mid Bancshares to $43.00 in a Thursday, September 29 report.

Hedge funds weigh on First Mid Banc shares

Major investors have recently changed their stake in the company. American Century Companies Inc. increased its equity stake in First Mid Bancshares by 6.3% in the first quarter. American Century Companies Inc. now owns 433,730 shares of the bank worth $16,694,000 after buying an additional 25,867 shares last quarter. Victory Capital Management Inc. increased its position in shares of First Mid Bancshares by 6.3% in the first quarter. Victory Capital Management Inc. now owns 42,350 shares of the bank valued at $1,630,000 after acquiring an additional 2,500 shares during the period. Creative Financial Designs Inc. ADV increased its position in shares of First Mid Bancshares by 12.9% in the second quarter. Creative Financial Designs Inc. ADV now owns 4,327 shares of the bank valued at $154,000 after acquiring 494 additional shares during the period. Cornercap Investment Counsel Inc. bought a new equity position in First Mid Bancshares in the first quarter worth approximately $902,000. Finally, Fiera Capital Corp increased its position in shares of First Mid Bancshares by 31.7% in the first quarter. Fiera Capital Corp now owns 24,023 shares of the bank valued at $925,000 after acquiring an additional 5,777 shares during the period. Hedge funds and other institutional investors own 34.40% of the company’s shares.

About First Mid Bancshares

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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 term deposits. The Company’s lending products include commercial real estate, commercial and industrial real estate, farm and agricultural real estate, residential real estate and consumer loans; and other loans including loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.

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