First Mid Bancshares (NASDAQ:FMBH) Cut to “Hold” at Zacks Investment Research

First Mid Bancshares (NASDAQ:FMBH – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “First Mid-Illinois Bancshares, Inc. is a financial holding company. The Company is engaged in the business of banking through its wholly owned subsidiary, First Mid-Illinois Bank & Trust, N.A. It operates in three lines of business: community banking and wealth management through First Mid Bank, and insurance brokerage through First Mid Insurance Group. The company’s deposit products include demand, savings, money market, and time deposits, as well as NOW accounts. Its loan portfolio primarily comprise commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans. The company also offers estate planning, investment, and farm management services; and employee benefit services. In addition, it provides commercial lines insurance to businesses; and homeowner, automobile, and other types of personal lines insurance to individuals. First Mid-Illinois Bancshares, Inc is headquartered in Mattoon, Illinois. “

Separately, StockNews.com raised First Mid Bancshares from a “hold” rating to a “buy” rating in a research note on Wednesday, May 18th.

Shares of FMBH stock opened at $36.63 on Tuesday. The stock’s fifty day simple moving average is $37.88 and its 200 day simple moving average is $40.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $749.05 million, a price-to-earnings ratio of 10.53 and a beta of 0.88. First Mid Bancshares has a one year low of $35.45 and a one year high of $45.84.

First Mid Bancshares (NASDAQ:FMBH – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The bank reported $0.86 EPS for the quarter, beating the consensus estimate of $0.79 by $0.07. First Mid Bancshares had a return on equity of 11.51% and a net margin of 24.32%. On average, research analysts anticipate that First Mid Bancshares will post 3.75 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the business. Creative Financial Designs Inc. ADV boosted its stake in First Mid Bancshares by 10.3% in the first quarter. Creative Financial Designs Inc. ADV now owns 3,833 shares of the bank’s stock worth $148,000 after purchasing an additional 359 shares in the last quarter. Voya Investment Management LLC raised its position in shares of First Mid Bancshares by 5.9% during the third quarter. Voya Investment Management LLC now owns 6,617 shares of the bank’s stock worth $272,000 after acquiring an additional 369 shares during the last quarter. Morgan Stanley raised its position in shares of First Mid Bancshares by 12.7% during the second quarter. Morgan Stanley now owns 3,786 shares of the bank’s stock worth $153,000 after acquiring an additional 426 shares during the last quarter. Cetera Advisor Networks LLC raised its position in shares of First Mid Bancshares by 1.9% during the third quarter. Cetera Advisor Networks LLC now owns 27,606 shares of the bank’s stock worth $1,134,000 after acquiring an additional 509 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of First Mid Bancshares by 5.7% during the fourth quarter. Deutsche Bank AG now owns 10,108 shares of the bank’s stock worth $433,000 after acquiring an additional 544 shares during the last quarter. 31.35% of the stock is currently owned by institutional investors.

First Mid Bancshares Company Profile (Get Rating)

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; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.

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