First Mid Bancshares (NASDAQ:FMBH) Hits New 1-Year High – What’s Next?

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FMBH shares. Weiss Ratings restated a “buy (b)” rating on shares of First Mid Bancshares in a research report on Friday, May 1st. Piper Sandler reissued an “overweight” rating and set a $55.00 price objective (up from $52.00) 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 company a “neutral” rating in a report on Monday, May 4th. Raymond James Financial restated an “outperform” rating and set a $48.00 target price on shares of First Mid Bancshares in a report on Friday, May 1st. Finally, Keefe, Bruyette & Woods upped their target price 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. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.50.

First Mid Bancshares Trading Down 1.8%

The stock’s fifty day moving average price is $44.66 and its 200 day moving average price is $42.66. 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 stock has a market cap of $1.29 billion, a PE ratio of 12.21 and a beta of 0.79.

First Mid Bancshares (NASDAQ:FMBH) last announced its quarterly earnings data on Wednesday, April 29th. The bank reported $1.14 earnings per share for the quarter, topping 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 company had revenue of $98.54 million during the quarter, compared to analyst estimates of $96.45 million. On average, sell-side analysts forecast that First Mid Bancshares, Inc. will post 4.58 EPS for the current year.

First Mid Bancshares Dividend Announcement

The firm also recently declared 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 was Friday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. First Mid Bancshares’s payout ratio is currently 25.19%.

Institutional Investors Weigh In On First Mid Bancshares

Institutional investors have recently modified their holdings of the business. Clearstead Advisors LLC raised its position in First Mid Bancshares by 147.2% in the 4th quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock worth $33,000 after buying an additional 505 shares during the last quarter. Strs Ohio purchased a new stake in shares of First Mid Bancshares during the 1st quarter valued at about $42,000. Aquatic Capital Management LLC grew its stake in shares of 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 acquiring an additional 1,052 shares during the period. Federated Hermes Inc. grew its stake in shares of 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 acquiring an additional 415 shares during the period. Finally, Quantbot Technologies LP raised its holdings in shares of First Mid Bancshares by 113.0% during the second quarter. Quantbot Technologies LP now owns 2,394 shares of the bank’s stock valued at $90,000 after purchasing 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.