First Mid Bancshares (NASDAQ:FMBH) Reaches New 1-Year High at $40.59

First Mid Bancshares, Inc. (NASDAQ:FMBH) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $40.59 and last traded at $40.57, with a volume of 16413 shares. The stock had previously closed at $39.79.

Wall Street Analyst Weigh In

Separately, Hovde Group began coverage on shares of First Mid Bancshares in a research report on Wednesday, June 26th. They issued an “outperform” rating and a $35.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.60.

First Mid Bancshares Stock Performance

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.48. The stock’s 50 day moving average price is $38.09 and its two-hundred day moving average price is $33.75. The firm has a market capitalization of $947.72 million, a price-to-earnings ratio of 12.79 and a beta of 0.89.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings results on Thursday, August 1st. The bank reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.05. The business had revenue of $79.19 million for the quarter, compared to analysts’ expectations of $78.25 million. First Mid Bancshares had a return on equity of 10.43% and a net margin of 16.75%. On average, analysts forecast that First Mid Bancshares, Inc. will post 3.47 EPS for the current year.

First Mid Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.24 per share. The ex-dividend date was Friday, August 16th. This represents a $0.96 dividend on an annualized basis and a yield of 2.42%. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.23. First Mid Bancshares’s payout ratio is presently 30.97%.

Institutional Investors Weigh In On First Mid Bancshares

Large investors have recently bought and sold shares of the stock. Creative Planning boosted its stake in shares of First Mid Bancshares by 2.1% during the second quarter. Creative Planning now owns 106,397 shares of the bank’s stock valued at $3,498,000 after acquiring an additional 2,186 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of First Mid Bancshares by 106.4% during the second quarter. AQR Capital Management LLC now owns 31,333 shares of the bank’s stock worth $1,030,000 after buying an additional 16,150 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of First Mid Bancshares by 27.5% during the second quarter. Renaissance Technologies LLC now owns 13,000 shares of the bank’s stock worth $427,000 after buying an additional 2,800 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of First Mid Bancshares by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank’s stock valued at $25,584,000 after buying an additional 36,769 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of First Mid Bancshares by 23.7% during the second quarter. American Century Companies Inc. now owns 340,343 shares of the bank’s stock valued at $11,190,000 after buying an additional 65,314 shares during the period. 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.