First Mid Bancshares (NASDAQ:FMBH) Reaches New 12-Month High – Time to Buy?

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Mid Bancshares in a research note on Friday, May 1st. Raymond James Financial reaffirmed an “outperform” rating and set a $48.00 price target 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. Piper Sandler reaffirmed an “overweight” rating and set a $55.00 price target (up from $52.00) on shares of First Mid Bancshares in a research note on Friday, May 1st. Finally, 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. Three 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, First Mid Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $49.50.

First Mid Bancshares Stock Up 1.0%

The business has a fifty day moving average of $43.32 and a 200 day moving average of $41.81. The firm has a market cap of $1.23 billion, a P/E ratio of 11.62 and a beta of 0.80. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.03.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings data on Wednesday, April 29th. The bank reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.19. The business had revenue of $98.54 million during the quarter, compared to the consensus estimate of $96.45 million. First Mid Bancshares had a return on equity of 10.44% and a net margin of 19.95%. On average, equities research analysts predict that First Mid Bancshares, Inc. will post 4.58 EPS for the current year.

First Mid Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, May 15th. First Mid Bancshares’s dividend payout ratio is currently 25.19%.

Institutional Investors Weigh In On First Mid Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC increased its holdings in shares of First Mid Bancshares by 0.8% in the fourth quarter. Jane Street Group LLC now owns 41,096 shares of the bank’s stock worth $1,603,000 after acquiring an additional 326 shares in the last quarter. CWM LLC increased its holdings in shares of First Mid Bancshares by 5.8% in the fourth quarter. CWM LLC now owns 6,283 shares of the bank’s stock worth $245,000 after acquiring an additional 343 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of First Mid Bancshares by 32.0% in the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock worth $64,000 after acquiring an additional 415 shares in the last quarter. Clearstead Advisors LLC increased its holdings in shares of First Mid Bancshares by 147.2% in the fourth quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock worth $33,000 after acquiring an additional 505 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of First Mid Bancshares by 17.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,607 shares of the bank’s stock worth $141,000 after acquiring an additional 538 shares in the last quarter. Institutional investors own 47.57% of the company’s stock.

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.