First Mid Bancshares (NASDAQ:FMBH) Reaches New 52-Week High – Here’s Why

First Mid Bancshares, Inc. (NASDAQ:FMBH) hit a new 52-week high on Wednesday . The company traded as high as $49.39 and last traded at $49.3950, with a volume of 36058 shares traded. The stock had previously closed at $48.09.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FMBH. Piper Sandler reiterated an “overweight” rating and issued a $55.00 target price (up from $52.00) on shares of First Mid Bancshares in a research note on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of First Mid Bancshares in a research report on Friday, May 1st. Keefe, Bruyette & Woods raised their price target on shares of First Mid Bancshares from $46.00 to $48.00 and gave the company a “market perform” rating in a report on Friday, May 1st. DA Davidson lifted their price objective on shares of First Mid Bancshares from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $48.00 price objective on shares of First Mid Bancshares in a research note on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, First Mid Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $49.50.

First Mid Bancshares Price Performance

The company has a market cap of $1.32 billion, a PE ratio of 12.44 and a beta of 0.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a 50 day moving average of $44.43 and a 200-day moving average of $42.56.

First Mid Bancshares (NASDAQ:FMBH) last announced its quarterly earnings data on Wednesday, April 29th. The bank reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.19. First Mid Bancshares had a return on equity of 10.44% and a net margin of 19.95%.The firm had revenue of $98.54 million during the quarter, compared to analysts’ expectations of $96.45 million. Equities analysts predict that First Mid Bancshares, Inc. will post 4.58 earnings per share for the current year.

First Mid Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, May 15th. First Mid Bancshares’s dividend payout ratio (DPR) is 25.19%.

Institutional Investors Weigh In On First Mid Bancshares

Several hedge funds have recently added to or reduced their stakes in FMBH. Vanguard Group Inc. grew its position in First Mid Bancshares by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,366,627 shares of the bank’s stock worth $51,768,000 after purchasing an additional 44,319 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of First Mid Bancshares by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,101,095 shares of the bank’s stock valued at $45,354,000 after buying an additional 56,997 shares during the period. American Century Companies Inc. lifted its holdings in shares of First Mid Bancshares by 9.8% in the 3rd quarter. American Century Companies Inc. now owns 584,286 shares of the bank’s stock valued at $22,133,000 after buying an additional 52,116 shares during the period. Geode Capital Management LLC boosted its stake in shares of First Mid Bancshares by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 546,389 shares of the bank’s stock worth $21,313,000 after buying an additional 12,484 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of First Mid Bancshares by 0.9% in the fourth quarter. State Street Corp now owns 530,875 shares of the bank’s stock worth $20,704,000 after buying an additional 4,808 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 (NASDAQ: FMBH), headquartered in Mattoon, Illinois, is a financial services holding company that offers a comprehensive suite of banking products and services through its main subsidiary, First Mid Bank & Trust. The company’s primary business activities include commercial and retail banking, mortgage origination and servicing, wealth management and trust administration, as well as treasury and cash management solutions.

Through its branch network, First Mid provides consumer deposit products such as checking and savings accounts, certificates of deposit and online banking services.