First Mid Bancshares (NASDAQ:FMBH) Reaches New 12-Month High – Time to Buy?

First Mid Bancshares, Inc. (NASDAQ:FMBH)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $43.52 and last traded at $43.47, with a volume of 10857 shares changing hands. The stock had previously closed at $42.29.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FMBH shares. Keefe, Bruyette & Woods cut shares of First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 target price for the company. in a research report on Wednesday, October 2nd. DA Davidson lowered shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $44.00 to $47.00 in a report on Tuesday, November 12th. Piper Sandler boosted their target price on First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Stephens increased their price target on First Mid Bancshares from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.00.

First Mid Bancshares Stock Up 1.1 %

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 0.91. The firm’s fifty day simple moving average is $39.50 and its 200 day simple moving average is $36.72. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 13.01 and a beta of 0.89.

First Mid Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, November 14th. First Mid Bancshares’s dividend payout ratio is presently 29.54%.

Institutional Trading of First Mid Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of First Mid Bancshares by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock valued at $42,230,000 after acquiring an additional 85,434 shares during the period. SG Americas Securities LLC grew its holdings in shares of First Mid Bancshares by 44.6% during the 3rd quarter. SG Americas Securities LLC now owns 12,006 shares of the bank’s stock worth $467,000 after purchasing an additional 3,703 shares in the last quarter. Victory Capital Management Inc. lifted its stake in First Mid Bancshares by 2.2% during the second quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock worth $998,000 after purchasing an additional 650 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of First Mid Bancshares by 106.4% during the 2nd quarter. AQR Capital Management LLC now owns 31,333 shares of the bank’s stock valued at $1,030,000 after acquiring an additional 16,150 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in First Mid Bancshares by 7.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 118,048 shares of the bank’s stock worth $3,881,000 after purchasing an additional 7,849 shares during the last quarter. Institutional investors and hedge funds own 47.57% of the company’s stock.

First Mid Bancshares Company Profile

First Mid Bancshares, Inc, a financial holding company, provides community banking products and services to commercial, retail, and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits, and time deposits. The company’s loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans, as well as construction and land development, 1-4 family residential properties, and multifamily residential properties loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.