GW&K Investment Management LLC Decreases Stake in First Mid Bancshares, Inc. (NASDAQ:FMBH)

GW&K Investment Management LLC lessened its holdings in shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 400,924 shares of the bank’s stock after selling 18,660 shares during the period. GW&K Investment Management LLC owned 1.68% of First Mid Bancshares worth $13,896,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FMBH. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of First Mid Bancshares by 48.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,370 shares of the bank’s stock worth $186,000 after purchasing an additional 1,743 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of First Mid Bancshares during the 4th quarter valued at about $208,000. Arizona State Retirement System acquired a new position in shares of First Mid Bancshares during the 4th quarter valued at about $208,000. Choreo LLC purchased a new stake in shares of First Mid Bancshares in the fourth quarter valued at about $222,000. Finally, Jump Financial LLC acquired a new stake in First Mid Bancshares during the fourth quarter worth about $252,000. Institutional investors and hedge funds own 47.57% of the company’s stock.

First Mid Bancshares Trading Up 0.2 %

Shares of FMBH stock traded up $0.08 on Wednesday, hitting $32.96. The stock had a trading volume of 4,485 shares, compared to its average volume of 52,031. The company’s 50 day moving average price is $31.43 and its 200-day moving average price is $31.78. First Mid Bancshares, Inc. has a 1 year low of $23.54 and a 1 year high of $35.83. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $787.74 million, a P/E ratio of 10.61 and a beta of 0.87.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings results on Wednesday, April 24th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. First Mid Bancshares had a net margin of 17.01% and a return on equity of 10.56%. The company had revenue of $79.95 million for the quarter, compared to analyst estimates of $80.20 million. Analysts anticipate that First Mid Bancshares, Inc. will post 3.24 earnings per share for the current year.

First Mid Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.92 annualized dividend and a dividend yield of 2.79%. First Mid Bancshares’s dividend payout ratio (DPR) is 29.68%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Raymond James increased their price target on shares of First Mid Bancshares from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Stephens cut their target price on First Mid Bancshares from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Finally, Piper Sandler decreased their price target on First Mid Bancshares from $39.00 to $38.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.00.

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.