First Mid Bancshares (NASDAQ:FMBH) Hits New 12-Month High – What’s Next?

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) hit a new 52-week high during trading on Friday . The stock traded as high as $45.10 and last traded at $44.8640, with a volume of 34472 shares. The stock had previously closed at $44.62.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Keefe, Bruyette & Woods raised their target price on First Mid Bancshares from $46.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, May 1st. DA Davidson raised their target price on First Mid Bancshares from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $55.00 target price (up from $52.00) on shares of First Mid Bancshares in a research report on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of First Mid Bancshares in a research note on Friday, May 1st. 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 assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.50.

First Mid Bancshares Stock Up 1.5%

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a 50 day simple moving average of $42.92 and a 200-day simple moving average of $41.54. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 11.41 and a beta of 0.80.

First Mid Bancshares (NASDAQ:FMBH) last released 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 analyst estimates of $96.45 million. On average, sell-side analysts forecast that First Mid Bancshares, Inc. will post 4.58 EPS for the current fiscal year.

First Mid Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.25 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. First Mid Bancshares’s dividend payout ratio (DPR) is 25.19%.

Institutional Trading of First Mid Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the business. Clearstead Advisors LLC increased its stake in shares of First Mid Bancshares by 147.2% in the fourth quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock valued at $33,000 after buying an additional 505 shares in the last quarter. Strs Ohio acquired a new stake in shares of First Mid Bancshares in the first quarter valued at $42,000. Aquatic Capital Management LLC increased its stake in shares of First Mid Bancshares by 272.5% in the third quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock valued at $54,000 after buying an additional 1,052 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of First Mid Bancshares by 32.0% in the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock valued at $64,000 after buying an additional 415 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in shares of First Mid Bancshares by 113.0% in the second quarter. Quantbot Technologies LP now owns 2,394 shares of the bank’s stock valued at $90,000 after buying an additional 1,270 shares in the last quarter. 47.57% of the stock is currently owned by institutional investors and hedge funds.

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.