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

First Mid Bancshares, Inc. (NASDAQ:FMBH) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $44.61 and last traded at $43.47, with a volume of 45307 shares traded. The stock had previously closed at $43.58.

Analysts Set New Price Targets

A number of brokerages recently commented on FMBH. Zacks Research cut First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of First Mid Bancshares in a report on Monday, December 29th. DA Davidson lifted their price target on shares of First Mid Bancshares from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Piper Sandler reduced their target price on First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, First Mid Bancshares presently has an average rating of “Moderate Buy” and an average price target of $43.60.

First Mid Bancshares Trading Down 0.2%

The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $1.04 billion, a P/E ratio of 11.33 and a beta of 0.91. The business has a fifty day moving average price of $40.58 and a 200 day moving average price of $38.91.

First Mid Bancshares (NASDAQ:FMBH) last announced its earnings results on Thursday, January 29th. The bank reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. First Mid Bancshares had a return on equity of 10.61% and a net margin of 19.69%.The business had revenue of $90.14 million for the quarter, compared to analyst estimates of $67.86 million. On average, analysts expect that First Mid Bancshares, Inc. will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Thursday, February 12th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $1.00 annualized dividend and a yield of 2.3%. First Mid Bancshares’s payout ratio is 26.04%.

Insider Buying and Selling at First Mid Bancshares

In other news, CEO Clay M. Dean sold 1,099 shares of the firm’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $42.69, for a total value of $46,916.31. Following the completion of the transaction, the chief executive officer owned 9,624 shares in the company, valued at $410,848.56. This trade represents a 10.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue bought a new position in shares of First Mid Bancshares in the 3rd quarter valued at about $36,000. Strs Ohio acquired a new stake in First Mid Bancshares during the first quarter worth approximately $42,000. Aquatic Capital Management LLC grew its position 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 valued at $54,000 after purchasing an additional 1,052 shares during the last quarter. Federated Hermes Inc. lifted its holdings in First Mid Bancshares by 32.0% during 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 during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in First Mid Bancshares by 176.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,075 shares of the bank’s stock valued at $78,000 after buying an additional 1,324 shares in the last quarter. 47.57% of the stock is currently 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.