Vanguard Discloses 7.6% Passive Stake in First Mid Bancshares

TL;DR

**Vanguard just revealed a 7.6% stake in First Mid Bancshares, a big institutional vote of confidence.**

AI Summary

The Vanguard Group, a major investment firm, reported on February 13, 2024, that it holds 1,409,000 shares of First Mid Bancshares Inc. common stock, representing 7.6% of the company's outstanding shares. This passive investment, triggered by an event on December 29, 2023, indicates Vanguard's significant, but non-controlling, stake in the regional bank. For investors, this means a large, reputable institution sees value in First Mid Bancshares, potentially signaling stability or future growth, but also means a substantial portion of the stock is held by an institutional investor, which can influence trading liquidity and price movements.

Why It Matters

This filing shows that a major institutional investor, Vanguard, has a significant stake in First Mid Bancshares, which can be seen as a vote of confidence in the company's value and future prospects.

Risk Assessment

Risk Level: low — This is a passive institutional filing, indicating a significant but non-controlling stake, which generally reduces risk for other investors by signaling institutional interest.

Analyst Insight

A smart investor would view Vanguard's 7.6% stake as a positive signal, suggesting the stock might be a stable long-term hold, and could consider adding First Mid Bancshares Inc. to their portfolio if it aligns with their investment strategy.

Key Numbers

• 1,409,000 — Shares Beneficially Owned (Represents the total number of common stock shares of First Mid Bancshares Inc. held by The Vanguard Group.)
• 7.6% — Percentage of Class Outstanding (Indicates the proportion of First Mid Bancshares Inc. common stock owned by The Vanguard Group, making them a significant shareholder.)

Key Players & Entities

• The Vanguard Group (company) — reporting person, institutional investor
• First Mid Bancshares Inc. (company) — subject company, regional bank
• 1,409,000 (dollar_amount) — number of shares beneficially owned by Vanguard
• 7.6% (dollar_amount) — percentage of class outstanding owned by Vanguard
• December 29, 2023 (date) — date of event requiring the filing
• February 13, 2024 (date) — filing date

Forward-Looking Statements

• First Mid Bancshares Inc. stock may experience increased stability due to a large institutional holder. (First Mid Bancshares Inc.) — medium confidence, target: Next 6-12 months
• Vanguard will maintain its passive investment in First Mid Bancshares Inc. for the foreseeable future. (The Vanguard Group) — high confidence, target: Next 1-2 years

FAQ

Filing Documents

• tv0942-firstmidbancsharesinc.htm (SC 13G) — 11KB
• 0001104659-24-020942.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: First Mid Bancshares Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 1421 Charleston Avenue Mattoon, IL 61938-4091

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 320866106

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G filing on SEC EDGAR