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

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) reached 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.

Wall Street Analyst Weigh In

Several research firms have commented on FMBH. Raymond James Financial reissued an “outperform” rating and issued a $48.00 target price on shares of First Mid Bancshares in a research report on Friday, May 1st. DA Davidson boosted their target price 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. Piper Sandler reissued 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. Keefe, Bruyette & Woods upped 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. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Mid Bancshares in a research report on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, First Mid Bancshares currently has an average rating of “Moderate Buy” and an average target price of $49.50.

First Mid Bancshares Stock Up 1.5%

The stock has a market cap of $1.21 billion, a P/E ratio of 11.41 and a beta of 0.80. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $42.92 and a 200-day simple moving average of $41.54.

First Mid Bancshares (NASDAQ:FMBH) last announced its earnings results on Wednesday, April 29th. The bank reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Analysts expect that First Mid Bancshares, Inc. will post 4.58 EPS for the current year.

First Mid Bancshares Dividend Announcement

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

Institutional Investors Weigh In On First Mid Bancshares

Hedge funds have recently modified their holdings of the business. Clearstead Advisors LLC boosted its position 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 acquiring an additional 505 shares during the period. Strs Ohio bought a new position in First Mid Bancshares in the first quarter worth $42,000. Aquatic Capital Management LLC lifted its position in First Mid Bancshares by 272.5% in the third quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock worth $54,000 after purchasing an additional 1,052 shares during the period. Federated Hermes Inc. lifted its position in First Mid Bancshares by 32.0% in the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after purchasing an additional 415 shares during the period. Finally, Quantbot Technologies LP lifted its position in First Mid Bancshares by 113.0% in the second quarter. Quantbot Technologies LP now owns 2,394 shares of the bank’s stock worth $90,000 after purchasing an additional 1,270 shares during the period. 47.57% of the stock is owned by institutional investors.

First Mid Bancshares Company Profile

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.