First Mid Bancshares (NASDAQ:FMBH) Reaches New 52-Week High – Here’s What Happened

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) hit a new 52-week high during trading on Thursday . The company traded as high as $46.44 and last traded at $46.14, with a volume of 117854 shares trading hands. The stock had previously closed at $45.67.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FMBH shares. DA Davidson upped their price target on First Mid Bancshares from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Raymond James Financial reaffirmed an “outperform” rating and issued a $48.00 price target on shares of First Mid Bancshares in a research note on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Mid Bancshares in a research note on Friday, May 1st. Keefe, Bruyette & Woods upped their price target on First Mid Bancshares from $46.00 to $48.00 and gave the company a “market perform” rating in a research note on Friday, May 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $55.00 price target (up from $52.00) on shares of First Mid Bancshares in a research note on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $49.50.

First Mid Bancshares Trading Up 1.0%

The business has a 50 day moving average of $43.52 and a 200-day moving average of $41.90. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.24 billion, a P/E ratio of 11.76 and a beta of 0.80.

First Mid Bancshares (NASDAQ:FMBH) last posted its earnings results on Wednesday, April 29th. The bank reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.19. First Mid Bancshares had a return on equity of 10.44% and a net margin of 19.95%.The business had revenue of $98.54 million during the quarter, compared to analysts’ expectations of $96.45 million. Analysts anticipate that First Mid Bancshares, Inc. will post 4.58 EPS for the current fiscal year.

First Mid Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 15th. First Mid Bancshares’s dividend payout ratio is presently 25.19%.

Institutional Trading of First Mid Bancshares

A number of large investors have recently bought and sold shares of the business. Janus Henderson Group PLC grew its stake in shares of First Mid Bancshares by 84.7% during the 1st quarter. Janus Henderson Group PLC now owns 13,588 shares of the bank’s stock worth $560,000 after acquiring an additional 6,231 shares in the last quarter. Rhino Investment Partners Inc grew its stake in shares of First Mid Bancshares by 23.1% during the 1st quarter. Rhino Investment Partners Inc now owns 157,581 shares of the bank’s stock worth $6,491,000 after acquiring an additional 29,579 shares in the last quarter. Empowered Funds LLC grew its stake in shares of First Mid Bancshares by 7.4% during the 1st quarter. Empowered Funds LLC now owns 106,199 shares of the bank’s stock worth $4,374,000 after acquiring an additional 7,282 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of First Mid Bancshares by 59.3% during the 1st quarter. Quantinno Capital Management LP now owns 27,925 shares of the bank’s stock worth $1,150,000 after acquiring an additional 10,397 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of First Mid Bancshares by 61.7% during the 1st quarter. Sei Investments Co. now owns 13,885 shares of the bank’s stock worth $572,000 after acquiring an additional 5,300 shares in the last quarter. 47.57% of the stock is 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.