First Mid Bancshares (NASDAQ:FMBH) Sets New 12-Month High – Here’s What Happened

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) reached a new 52-week high on Thursday . The company traded as high as $49.74 and last traded at $49.79, with a volume of 14109 shares trading hands. The stock had previously closed at $48.77.

Wall Street Analysts Forecast Growth

FMBH has been the topic of several analyst reports. Raymond James Financial reissued an “outperform” rating and issued a $48.00 target price on shares of First Mid Bancshares in a research note 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 note on Monday, May 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Mid Bancshares in a research note on Friday, May 1st. Keefe, Bruyette & Woods lifted their price target on shares of 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, Piper Sandler restated an “overweight” rating and issued a $55.00 price objective (up from $52.00) 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $49.50.

First Mid Bancshares Trading Up 2.9%

The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average is $45.56 and its 200-day moving average is $43.09. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 12.64 and a beta of 0.79.

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

First Mid Bancshares Announces Dividend

The business also recently disclosed 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 of this dividend was Friday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. First Mid Bancshares’s dividend payout ratio is 25.19%.

Institutional Investors Weigh In On First Mid Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. Clearstead Advisors LLC lifted its stake in First Mid Bancshares by 147.2% during the 4th quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock valued at $33,000 after acquiring an additional 505 shares in the last quarter. Strs Ohio bought a new position in shares of First Mid Bancshares during the first quarter valued at about $42,000. Aquatic Capital Management LLC boosted its holdings in First Mid Bancshares by 272.5% during 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 last quarter. Federated Hermes Inc. grew its position in First Mid Bancshares by 32.0% in the 2nd quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after purchasing an additional 415 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in First Mid Bancshares by 113.0% in the 2nd 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 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.