First Mid Bancshares (NASDAQ:FMBH) Shares Gap Up – Here’s Why

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) gapped up before the market opened on Friday . The stock had previously closed at $37.72, but opened at $38.68. First Mid Bancshares shares last traded at $37.96, with a volume of 37,256 shares traded.

Analyst Upgrades and Downgrades

FMBH has been the subject of several research reports. DA Davidson cut First Mid Bancshares from a “buy” rating to a “neutral” rating and increased their price objective for the company from $44.00 to $47.00 in a research report on Tuesday, November 12th. Stephens restated an “equal weight” rating and issued a $43.00 price target on shares of First Mid Bancshares in a research report on Friday, January 24th. Keefe, Bruyette & Woods boosted their price objective on shares of First Mid Bancshares from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler increased their target price on shares of First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $43.40.

First Mid Bancshares Stock Up 1.0 %

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41. The business’s fifty day moving average price is $37.44 and its 200 day moving average price is $38.88. The company has a market capitalization of $911.05 million, a P/E ratio of 11.58 and a beta of 0.93.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. First Mid Bancshares had a return on equity of 10.10% and a net margin of 17.39%. As a group, equities research analysts predict that First Mid Bancshares, Inc. will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Thursday, February 13th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Thursday, February 13th. First Mid Bancshares’s dividend payout ratio (DPR) is 29.18%.

Insider Buying and Selling at First Mid Bancshares

In other news, Director James Edwin Zimmer bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average price of $39.87 per share, for a total transaction of $39,870.00. Following the transaction, the director now directly owns 4,050 shares of the company’s stock, valued at $161,473.50. This trade represents a 32.79 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On First Mid Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FMBH. Vanguard Group Inc. increased its holdings in shares of First Mid Bancshares by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 1,309,240 shares of the bank’s stock worth $48,206,000 after buying an additional 31,231 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in First Mid Bancshares by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 891,154 shares of the bank’s stock worth $32,813,000 after purchasing an additional 54,285 shares in the last quarter. American Century Companies Inc. boosted its stake in First Mid Bancshares by 11.3% in the fourth quarter. American Century Companies Inc. now owns 451,057 shares of the bank’s stock worth $16,608,000 after purchasing an additional 45,788 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of First Mid Bancshares by 3.8% in the fourth quarter. Wellington Management Group LLP now owns 402,826 shares of the bank’s stock valued at $14,832,000 after buying an additional 14,900 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of First Mid Bancshares by 5.2% in the fourth quarter. Northern Trust Corp now owns 221,975 shares of the bank’s stock valued at $8,173,000 after buying an additional 10,925 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.