First Mid Bancshares (NASDAQ:FMBH) Trading Up 4.9% – Here’s Why

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) shot up 4.9% during trading on Thursday . The stock traded as high as $40.08 and last traded at $39.87. 3,448 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 57,991 shares. The stock had previously closed at $38.01.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FMBH shares. Stephens downgraded shares of First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods lifted their target price on First Mid Bancshares from $42.00 to $45.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler upped their price target on First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, DA Davidson lowered shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $44.00 to $47.00 in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, First Mid Bancshares has a consensus rating of “Moderate Buy” and an average price target of $42.50.

First Mid Bancshares Stock Up 0.9 %

The firm’s 50-day simple moving average is $40.56 and its 200 day simple moving average is $37.76. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $906.26 million, a PE ratio of 11.66 and a beta of 0.91.

First Mid Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.96 annualized dividend and a yield of 2.53%. First Mid Bancshares’s payout ratio is currently 29.54%.

Institutional Investors Weigh In On First Mid Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC increased its stake in First Mid Bancshares by 344.2% in the 2nd quarter. CWM LLC now owns 884 shares of the bank’s stock valued at $29,000 after purchasing an additional 685 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of First Mid Bancshares by 7.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 118,048 shares of the bank’s stock worth $3,881,000 after buying an additional 7,849 shares during the last quarter. Rhumbline Advisers boosted its position in shares of First Mid Bancshares by 3.3% in the 2nd quarter. Rhumbline Advisers now owns 33,272 shares of the bank’s stock worth $1,094,000 after buying an additional 1,049 shares in the last quarter. Victory Capital Management Inc. grew its stake in First Mid Bancshares by 2.2% in the 2nd quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock valued at $998,000 after acquiring an additional 650 shares during the last quarter. Finally, Choreo LLC raised its position in First Mid Bancshares by 17.9% during the second quarter. Choreo LLC now owns 7,568 shares of the bank’s stock worth $246,000 after acquiring an additional 1,149 shares during the last quarter. 47.57% of the stock is currently owned by institutional investors and hedge funds.

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.