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

First Mid Bancshares, Inc. (NASDAQ:FMBH) reached a new 52-week high during trading on Monday . The stock traded as high as $43.52 and last traded at $43.47, with a volume of 10857 shares. The stock had previously closed at $42.29.

Analysts Set New Price Targets

Several equities analysts have issued reports on FMBH shares. DA Davidson lowered First Mid Bancshares from a “buy” rating to a “neutral” rating and boosted their price target for the company from $44.00 to $47.00 in a research note on Tuesday, November 12th. Stephens boosted their target price on shares of First Mid Bancshares from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods downgraded shares of First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price objective on the stock. in a report on Wednesday, October 2nd. Finally, Piper Sandler boosted their target price on shares of First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $42.00.

First Mid Bancshares Stock Performance

The firm has a market cap of $1.02 billion, a PE ratio of 13.01 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41. The company has a 50-day simple moving average of $39.50 and a two-hundred day simple moving average of $36.72.

First Mid Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, November 14th. First Mid Bancshares’s dividend payout ratio (DPR) is currently 29.54%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FMBH. EntryPoint Capital LLC purchased a new stake in First Mid Bancshares in the 1st quarter worth about $29,000. CWM LLC increased its stake in shares of First Mid Bancshares by 344.2% in the second quarter. CWM LLC now owns 884 shares of the bank’s stock worth $29,000 after purchasing an additional 685 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of First Mid Bancshares in the third quarter valued at approximately $84,000. PDT Partners LLC purchased a new stake in shares of First Mid Bancshares during the 3rd quarter valued at approximately $203,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of First Mid Bancshares during the 1st quarter valued at approximately $208,000. 47.57% of the stock is owned by institutional investors.

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.