First Mid Bancshares (NASDAQ:FMBH) Sets New 52-Week High – What’s Next?

First Mid Bancshares, Inc. (NASDAQ:FMBH)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $43.30 and last traded at $43.16, with a volume of 10050 shares. The stock had previously closed at $43.20.

Wall Street Analysts Forecast Growth

FMBH has been the topic of a number of recent research reports. Piper Sandler raised their price objective 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. DA Davidson lowered First Mid Bancshares from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $44.00 to $47.00 in a research note on Tuesday. Keefe, Bruyette & Woods lowered First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price objective on the stock. in a research note on Wednesday, October 2nd. Finally, Stephens raised their target price on First Mid Bancshares from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.00.

First Mid Bancshares Stock Performance

The stock has a fifty day simple moving average of $39.02 and a two-hundred day simple moving average of $36.14. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 12.96 and a beta of 0.89. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 0.91.

First Mid Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, November 14th. First Mid Bancshares’s dividend payout ratio (DPR) is 29.54%.

Institutional Investors Weigh In On First Mid Bancshares

Several hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its holdings in First Mid Bancshares by 33.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,001 shares of the bank’s stock worth $233,000 after buying an additional 1,510 shares during the period. Quantbot Technologies LP acquired a new position in First Mid Bancshares during the 3rd quarter worth about $84,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in First Mid Bancshares during the 3rd quarter worth about $869,000. Thrivent Financial for Lutherans lifted its holdings in First Mid Bancshares by 17.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 43,252 shares of the bank’s stock worth $1,683,000 after buying an additional 6,353 shares during the period. Finally, Empowered Funds LLC lifted its holdings in First Mid Bancshares by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 60,114 shares of the bank’s stock worth $2,339,000 after buying an additional 2,948 shares during the period. 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.