First Mid Bancshares (NASDAQ:FMBH) Hits New 1-Year High – Should You Buy?

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

Wall Street Analyst Weigh In

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

First Mid Bancshares Price Performance

The firm has a market capitalization of $1.32 billion, a P/E ratio of 12.44 and a beta of 0.80. The stock’s 50 day simple moving average is $44.43 and its 200 day simple moving average is $42.56. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 0.97.

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 company had revenue of $98.54 million for the quarter, compared to analysts’ expectations of $96.45 million. As a group, analysts expect that First Mid Bancshares, Inc. will post 4.58 earnings per share for the current fiscal year.

First Mid Bancshares Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in First Mid Bancshares by 256.9% during the first quarter. AQR Capital Management LLC now owns 105,648 shares of the bank’s stock valued at $3,687,000 after buying an additional 76,050 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in First Mid Bancshares by 63.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 161,024 shares of the bank’s stock worth $6,100,000 after buying an additional 62,404 shares during the period. Tudor Investment Corp ET AL lifted its holdings in First Mid Bancshares by 421.7% during the third quarter. Tudor Investment Corp ET AL now owns 71,260 shares of the bank’s stock worth $2,699,000 after buying an additional 57,600 shares during the period. Goldman Sachs Group Inc. boosted its position in First Mid Bancshares by 43.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 188,473 shares of the bank’s stock valued at $7,350,000 after acquiring an additional 57,320 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in First Mid Bancshares by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,101,095 shares of the bank’s stock valued at $45,354,000 after acquiring an additional 56,997 shares in the last quarter. 47.57% of the stock is currently owned by 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.