First Mid Bancshares (NASDAQ:FMBH) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $38.36 and traded as low as $33.79. First Mid Bancshares shares last traded at $34.59, with a volume of 65,182 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FMBH. Stephens lowered shares of First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. DA Davidson cut shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $44.00 to $47.00 in a report on Tuesday, November 12th. Keefe, Bruyette & Woods raised their target price on First Mid Bancshares from $42.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

First Mid Bancshares Stock Performance

The stock has a fifty day moving average price of $39.82 and a 200-day moving average price of $38.44. 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 firm has a market capitalization of $827.12 million, a price-to-earnings ratio of 10.64 and a beta of 0.93.

First Mid Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were issued a dividend of $0.24 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.78%. First Mid Bancshares’s dividend payout ratio is 29.54%.

Hedge Funds Weigh In On First Mid Bancshares

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in First Mid Bancshares by 24.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 133,132 shares of the bank’s stock worth $5,180,000 after buying an additional 25,855 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of First Mid Bancshares during the third quarter valued at $566,000. Barclays PLC boosted its holdings in First Mid Bancshares by 327.6% in the third quarter. Barclays PLC now owns 34,347 shares of the bank’s stock valued at $1,337,000 after acquiring an additional 26,315 shares during the last quarter. Wellington Management Group LLP raised its holdings in First Mid Bancshares by 7.3% during the 3rd quarter. Wellington Management Group LLP now owns 387,926 shares of the bank’s stock worth $15,094,000 after purchasing an additional 26,560 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in First Mid Bancshares by 1.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 88,910 shares of the bank’s stock valued at $3,459,000 after purchasing an additional 900 shares during the period. 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.