First Mid Bancshares (NASDAQ:FMBH) Reaches New 52-Week High at $40.59

First Mid Bancshares, Inc. (NASDAQ:FMBH)’s stock price 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 Analysts Forecast Growth

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

First Mid Bancshares Stock Down 0.3 %

The firm’s 50 day simple moving average is $38.09 and its 200-day simple moving average is $33.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $947.72 million, a price-to-earnings ratio of 12.79 and a beta of 0.89.

First Mid Bancshares (NASDAQ:FMBH) last announced its earnings results on Thursday, August 1st. The bank reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. The firm had revenue of $79.19 million during 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%. As a group, sell-side analysts anticipate that First Mid Bancshares, Inc. will post 3.47 earnings per share for the current year.

First Mid Bancshares Increases Dividend

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

Institutional Trading of First Mid Bancshares

A number of large investors have recently bought and sold shares of the business. ICA Group Wealth Management LLC acquired a new stake in shares of First Mid Bancshares during the fourth quarter worth about $25,000. CWM LLC increased its holdings in shares of First Mid Bancshares by 344.2% in the second quarter. CWM LLC now owns 884 shares of the bank’s stock valued at $29,000 after purchasing an additional 685 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of First Mid Bancshares during the first quarter worth approximately $29,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of First Mid Bancshares during the first quarter worth $208,000. Finally, Jump Financial LLC purchased a new position in First Mid Bancshares in the 4th quarter valued at $252,000. 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.