First Mid Bancshares (NASDAQ:FMBH) Sets New 52-Week High – Time to Buy?

First Mid Bancshares, Inc. (NASDAQ:FMBH)’s stock price 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. The stock had previously closed at $43.58.

Wall Street Analysts Forecast Growth

FMBH has been the topic of a number of analyst reports. DA Davidson increased their target price 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. Piper Sandler cut their price target on First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, November 3rd. Zacks Research lowered First Mid Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Mid Bancshares in a report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Mid Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.60.

First Mid Bancshares Stock Performance

The stock has a fifty day simple moving average of $40.58 and a two-hundred day simple moving average of $38.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 11.33 and a beta of 0.91.

First Mid Bancshares (NASDAQ:FMBH) last posted its quarterly earnings results on Thursday, January 29th. The bank reported $1.06 EPS for the quarter, hitting 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 company had revenue of $90.14 million during the quarter, compared to analysts’ expectations of $67.86 million. Analysts expect that First Mid Bancshares, Inc. will post 3.61 EPS for the current fiscal year.

First Mid Bancshares Dividend Announcement

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

Insider Buying and Selling

In other First Mid Bancshares news, CEO Clay M. Dean sold 1,099 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $42.69, for a total value of $46,916.31. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 5.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new stake in shares of First Mid Bancshares during the third quarter valued at about $36,000. Strs Ohio bought a new position in First Mid Bancshares during the 1st quarter worth $42,000. Aquatic Capital Management LLC raised its position in First Mid Bancshares by 272.5% during the 3rd quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock worth $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 buying an additional 415 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of 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 during 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.