First Mid Bancshares (NASDAQ:FMBH) Hits New 12-Month High – Still a Buy?

First Mid Bancshares, Inc. (NASDAQ:FMBH)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $41.33 and last traded at $41.33, with a volume of 3273 shares traded. The stock had previously closed at $38.06.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FMBH shares. Stephens raised their target price on shares of First Mid Bancshares from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Piper Sandler boosted their price target on shares of 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 downgraded shares of First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 target price on the stock. in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

First Mid Bancshares Stock Up 12.7 %

The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 13.19 and a beta of 0.89. The business’s 50-day moving average is $38.74 and its 200-day moving average is $35.72.

First Mid Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, November 14th. First Mid Bancshares’s payout ratio is currently 29.54%.

Institutional Trading of First Mid Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the business. EntryPoint Capital LLC bought a new position in First Mid Bancshares during the first quarter worth $29,000. CWM LLC raised its position in First Mid Bancshares by 344.2% in the 2nd quarter. CWM LLC now owns 884 shares of the bank’s stock valued at $29,000 after buying an additional 685 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of First Mid Bancshares during the 1st quarter worth approximately $208,000. Choreo LLC grew its stake in First Mid Bancshares by 17.9% in the 2nd quarter. Choreo LLC now owns 7,568 shares of the bank’s stock valued at $246,000 after buying an additional 1,149 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in First Mid Bancshares by 84.7% in 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 period. 47.57% of the stock is currently owned by institutional investors and hedge funds.

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.