First Mid Bancshares (NASDAQ:FMBH) Reaches New 1-Year High – Still a Buy?

First Mid Bancshares, Inc. (NASDAQ:FMBH) reached a new 52-week high on Thursday . The stock traded as high as $53.36 and last traded at $52.52, with a volume of 165005 shares changing hands. The stock had previously closed at $52.58.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of First Mid Bancshares in a research report on Friday, May 1st. Piper Sandler lifted their price objective on shares of First Mid Bancshares from $55.00 to $62.50 and gave the company an “overweight” rating in a report on Tuesday. Raymond James Financial reaffirmed an “outperform” rating and set a $48.00 target price on shares of First Mid Bancshares in a research note on Friday, May 1st. Keefe, Bruyette & Woods raised their price target on shares of First Mid Bancshares from $50.00 to $54.00 and gave the company a “market perform” rating in a research report on Monday. Finally, DA Davidson boosted their price target on shares of First Mid Bancshares from $47.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday. Three 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 has an average rating of “Moderate Buy” and an average price target of $54.62.

First Mid Bancshares Stock Down 0.1%

The firm has a 50 day moving average price of $47.08 and a 200-day moving average price of $43.87. 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 has a market cap of $1.40 billion, a PE ratio of 13.03 and a beta of 0.79.

First Mid Bancshares (NASDAQ:FMBH) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.21. First Mid Bancshares had a return on equity of 11.17% and a net margin of 19.76%.The business had revenue of $109.32 million during the quarter, compared to the consensus estimate of $107.42 million. Research analysts forecast that First Mid Bancshares, Inc. will post 4.66 EPS for the current fiscal year.

First Mid Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.26 per share. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, August 18th. This represents a $1.04 annualized dividend and a yield of 2.0%. First Mid Bancshares’s dividend payout ratio (DPR) is presently 25.81%.

Institutional Investors Weigh In On First Mid Bancshares

Large investors have recently modified their holdings of the company. Clearstead Advisors LLC raised its holdings in shares of First Mid Bancshares by 147.2% in the 4th quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock valued at $33,000 after purchasing an additional 505 shares in the last quarter. Strs Ohio acquired a new position in shares of First Mid Bancshares during the first quarter worth $42,000. Aquatic Capital Management LLC grew its stake in shares of 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 in the last quarter. Federated Hermes Inc. grew its stake in shares of First Mid Bancshares by 32.0% during 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 in the last quarter. Finally, Quantbot Technologies LP increased its holdings in 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 during 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 (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.