First Mid Bancshares (NASDAQ:FMBH) Sets New 52-Week High – What’s Next?

First Mid Bancshares, Inc. (NASDAQ:FMBH) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $43.30 and last traded at $43.16, with a volume of 10050 shares traded. The stock had previously closed at $43.20.

Analysts Set New Price Targets

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

First Mid Bancshares Price Performance

The firm has a market capitalization of $1.01 billion, a P/E ratio of 12.96 and a beta of 0.89. The business has a 50-day moving average of $39.02 and a 200 day moving average of $36.14. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41.

First Mid Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors 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 yield of 2.28%. The ex-dividend date of this dividend is Thursday, November 14th. First Mid Bancshares’s payout ratio is 29.54%.

Hedge Funds Weigh In On First Mid Bancshares

A number of hedge funds have recently added to or reduced their stakes in FMBH. BNP Paribas Financial Markets boosted its stake in First Mid Bancshares by 84.7% during the 1st quarter. BNP Paribas Financial Markets now owns 10,774 shares of the bank’s stock valued at $352,000 after purchasing an additional 4,941 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in First Mid Bancshares by 29.3% during the 1st quarter. Russell Investments Group Ltd. now owns 67,127 shares of the bank’s stock valued at $2,194,000 after purchasing an additional 15,227 shares during the last quarter. Vanguard Group Inc. boosted its stake in First Mid Bancshares by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock valued at $42,230,000 after purchasing an additional 85,434 shares during the last quarter. EntryPoint Capital LLC acquired a new position in First Mid Bancshares during the 1st quarter valued at about $29,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in First Mid Bancshares during the 1st quarter valued at about $208,000. Institutional investors and hedge funds own 47.57% of the company’s stock.

About First Mid Bancshares

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.