First Mid Bancshares (NASDAQ:FMBH) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

First Mid Bancshares, Inc. (NASDAQ:FMBH) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $37.53 and traded as low as $37.00. First Mid Bancshares shares last traded at $37.65, with a volume of 79,225 shares changing hands.

Analyst Upgrades and Downgrades

FMBH has been the subject of a number of recent research reports. Wall Street Zen upgraded First Mid Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Piper Sandler lowered their price objective on shares of First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. DA Davidson increased their target price on shares of First Mid Bancshares from $39.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Weiss Ratings downgraded shares of First Mid Bancshares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Finally, Zacks Research upgraded shares of First Mid Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.17.

First Mid Bancshares Stock Up 1.2%

The company has a market capitalization of $903.60 million, a P/E ratio of 10.32 and a beta of 0.93. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.37. The stock’s fifty day moving average is $37.65 and its 200 day moving average is $37.53.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings data on Thursday, October 30th. The bank reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $89.27 million for the quarter, compared to analysts’ expectations of $65.60 million. First Mid Bancshares had a net margin of 18.77% and a return on equity of 10.27%. Research analysts predict that First Mid Bancshares, Inc. will post 3.61 EPS for the current fiscal year.

First Mid Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 2.7%. First Mid Bancshares’s dividend payout ratio is presently 27.40%.

Hedge Funds Weigh In On First Mid Bancshares

Several hedge funds have recently made changes to their positions in FMBH. Federated Hermes Inc. raised its holdings in shares of First Mid Bancshares by 17.4% during the third quarter. Federated Hermes Inc. now owns 2,007 shares of the bank’s stock valued at $76,000 after acquiring an additional 297 shares in the last quarter. State of Wyoming raised its holdings in First Mid Bancshares by 33.4% in the 1st quarter. State of Wyoming now owns 1,410 shares of the bank’s stock worth $49,000 after purchasing an additional 353 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of First Mid Bancshares by 2.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 24,002 shares of the bank’s stock worth $900,000 after purchasing an additional 537 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of First Mid Bancshares by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,566 shares of the bank’s stock worth $473,000 after purchasing an additional 550 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of First Mid Bancshares by 8.8% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 8,008 shares of the bank’s stock valued at $303,000 after purchasing an additional 648 shares in the last quarter. 47.57% of the stock is owned by hedge funds and other institutional investors.

First Mid Bancshares Company Profile

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, as well as construction and land development, 1-4 family residential properties, and multifamily residential properties loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.