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

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) reached a new 52-week high on Wednesday . The stock 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.

Analysts Set New Price Targets

FMBH has been the topic of a number of analyst reports. Stephens boosted their price objective on 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 upped their price objective on First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Keefe, Bruyette & Woods cut First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 target price for the company. in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, First Mid Bancshares currently has an average rating of “Moderate Buy” and an average target price of $41.00.

First Mid Bancshares Stock Performance

The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.03 billion, a P/E ratio of 13.19 and a beta of 0.89. The firm has a 50 day moving average of $38.74 and a 200-day moving average of $35.72.

First Mid Bancshares Announces Dividend

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

Institutional Investors Weigh In On First Mid Bancshares

A number of institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. raised its position in First Mid Bancshares by 29.3% in the first quarter. Russell Investments Group Ltd. now owns 67,127 shares of the bank’s stock valued at $2,194,000 after purchasing an additional 15,227 shares during the period. Vanguard Group Inc. raised its holdings in shares of First Mid Bancshares by 7.1% in the first quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock valued at $42,230,000 after buying an additional 85,434 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of First Mid Bancshares by 44.6% in the third quarter. SG Americas Securities LLC now owns 12,006 shares of the bank’s stock valued at $467,000 after buying an additional 3,703 shares during the last quarter. Victory Capital Management Inc. raised its holdings in First Mid Bancshares by 2.2% during the second quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock worth $998,000 after purchasing an additional 650 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in 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 purchasing an additional 16,150 shares in the last quarter. 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.