First Mid Bancshares CEO sells $16,882 in stock

Dean Clay M, CEO of First Mid Insurance Group, a division of First Mid Bancshares, Inc. (NASDAQ:FMBH), recently sold 400 shares of the company’s common stock. The shares were sold at an average price of $42.2063, amounting to a total transaction value of $16,882. Following this transaction, Clay holds 10,850.1429 shares directly. Additionally, he maintains indirect ownership of 3,851.5906 shares through a 401k plan and 4,081.9259 shares via a Deferred Compensation Plan.

In other recent news, First Mid-Illinois Bancshares (NASDAQ:) experienced significant changes in its stock ratings and price targets. DA Davidson downgraded the bank’s shares from Buy to Neutral, citing valuation caution despite raising the price target from $44.00 to $47.00. The firm’s outlook was influenced by the bank’s potential for mergers and acquisitions, and its growth positioning compared to higher-growth peers.

Simultaneously, Piper Sandler increased its price target for First Mid Bancshares to $47.00 from $46.00, maintaining an Overweight rating. This decision followed the company’s strong third-quarter performance and anticipated net interest income growth. Also, Stephens raised the price target for First Mid-Illinois Bancshares to $43.00 from $40.00, reiterating an Overweight rating based on the bank’s diversified revenue streams and conservative risk approach.

However, Keefe, Bruyette & Woods downgraded the bank’s shares from Outperform to Market Perform, suggesting that the stock’s potential upside has largely been realized after recent strong performance. The firm’s price target for the bank’s shares remained at $42.00, indicating a steady valuation despite the rating adjustment.

In terms of board appointments, First Mid Bancshares announced the appointment of Mr. Paul L. Palmby to its Board of Directors, which is part of the company’s ongoing efforts to strengthen its governance and oversight capabilities. These are the recent developments for First Mid Bancshares.

InvestingPro Insights

As First Mid Bancshares, Inc. (NASDAQ:FMBH) CEO Dean Clay M’s recent stock sale catches attention, it’s worth examining the company’s financial health and market position. According to InvestingPro data, FMBH boasts a market capitalization of $1.01 billion and a P/E ratio of 12.94, suggesting a relatively modest valuation compared to industry peers.

InvestingPro Tips highlight FMBH’s strong dividend history, having raised its dividend for 14 consecutive years and maintained payments for 25 years. This consistent dividend growth, coupled with a current yield of 2.32%, may appeal to income-focused investors. The company’s commitment to shareholder returns is further underscored by its high shareholder yield, as noted in another InvestingPro Tip.

Despite the CEO’s recent share sale, FMBH’s stock has shown robust performance, with a 27.35% price total return over the past six months and a 37.99% return over the last year. The stock is currently trading near its 52-week high, with its price at 96.87% of the peak, indicating strong market confidence.

However, investors should note that 4 analysts have revised their earnings expectations downward for the upcoming period, and there are projections of a sales decline in the current year. These factors, along with weak gross profit margins, may warrant closer scrutiny of the company’s growth prospects.

For a more comprehensive analysis, InvestingPro offers additional tips and insights that could provide valuable context to FMBH’s financial outlook and market position. Investors interested in a deeper dive into First Mid Bancshares’ financials and future prospects may find the full suite of InvestingPro Tips beneficial for their decision-making process.

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