Short Interest in First Mid Bancshares, Inc. (NASDAQ:FMBH) Increases By 5.1%

First Mid Bancshares, Inc. (NASDAQ:FMBH) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 201,200 shares, an increase of 5.1% from the March 15th total of 191,500 shares. Based on an average daily volume of 55,800 shares, the days-to-cover ratio is presently 3.6 days.

First Mid Bancshares Price Performance

Shares of FMBH traded down $0.26 during trading hours on Tuesday, reaching $29.28. 28,088 shares of the company’s stock traded hands, compared to its average volume of 55,030. The stock has a market cap of $699.50 million, a PE ratio of 9.26 and a beta of 0.87. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The firm’s 50 day simple moving average is $30.78 and its 200-day simple moving average is $30.90. First Mid Bancshares has a 12 month low of $21.77 and a 12 month high of $35.83.

First Mid Bancshares (NASDAQ:FMBH) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. The company had revenue of $79.23 million for the quarter, compared to analysts’ expectations of $77.10 million. First Mid Bancshares had a return on equity of 10.71% and a net margin of 17.82%. Equities analysts expect that First Mid Bancshares will post 3.28 EPS for the current year.

First Mid Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were issued a dividend of $0.23 per share. The ex-dividend date was Thursday, February 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.14%. First Mid Bancshares’s dividend payout ratio is 29.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Stephens decreased their target price on 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. Raymond James raised their target price on First Mid Bancshares from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.50.

Hedge Funds Weigh In On First Mid Bancshares

Large investors have recently modified their holdings of the company. ICA Group Wealth Management LLC purchased a new position in shares of First Mid Bancshares during the 4th quarter valued at about $25,000. Qube Research & Technologies Ltd purchased a new position in First Mid Bancshares in the 3rd quarter worth approximately $31,000. Lazard Asset Management LLC purchased a new position in First Mid Bancshares in the 2nd quarter worth approximately $29,000. FMR LLC lifted its position in First Mid Bancshares by 131.4% in the first quarter. FMR LLC now owns 1,259 shares of the bank’s stock valued at $34,000 after purchasing an additional 715 shares during the last quarter. Finally, US Bancorp DE lifted its position in First Mid Bancshares by 310.0% in the second quarter. US Bancorp DE now owns 1,435 shares of the bank’s stock valued at $35,000 after purchasing an additional 1,085 shares during the last quarter. 47.57% of the stock is owned by hedge funds and other institutional investors.

About First Mid Bancshares

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.