First Mid Bancshares (NASDAQ:FMBH) Sets New 1-Year High – Still a Buy?

First Mid Bancshares, Inc. (NASDAQ:FMBH)’s stock price reached a new 52-week high 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.

Wall Street Analyst Weigh In

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

First Mid Bancshares Stock Performance

The company has a fifty day moving average of $39.44 and a two-hundred day moving average of $36.65. 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 cap of $1.03 billion, a price-to-earnings ratio of 13.01 and a beta of 0.89.

First Mid Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, November 14th. First Mid Bancshares’s dividend payout ratio is currently 29.54%.

Institutional Investors Weigh In On First Mid Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in First Mid Bancshares by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock worth $42,230,000 after purchasing an additional 85,434 shares during the last quarter. American Century Companies Inc. raised its stake in First Mid Bancshares by 23.7% during the second quarter. American Century Companies Inc. now owns 340,343 shares of the bank’s stock worth $11,190,000 after buying an additional 65,314 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in First Mid Bancshares by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank’s stock valued at $25,584,000 after buying an additional 36,769 shares during the period. Wellington Management Group LLP boosted its position in First Mid Bancshares by 7.3% during the third quarter. Wellington Management Group LLP now owns 387,926 shares of the bank’s stock valued at $15,094,000 after acquiring an additional 26,560 shares during the last quarter. Finally, Barclays PLC raised its position in shares of First Mid Bancshares by 327.6% in the 3rd quarter. Barclays PLC now owns 34,347 shares of the bank’s stock worth $1,337,000 after acquiring an additional 26,315 shares in the last quarter. Institutional investors and hedge funds own 47.57% of the company’s stock.

First Mid Bancshares Company Profile

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.