First Mid Bancshares (NASDAQ:FMBH) Reaches New 52-Week Low – Here’s Why

First Mid Bancshares, Inc. (NASDAQ:FMBH) hit a new 52-week low on Monday . The stock traded as low as $27.58 and last traded at $29.33, with a volume of 28676 shares changing hands. The stock had previously closed at $31.53.

Analyst Ratings Changes

FMBH has been the topic of several analyst reports. Stephens reissued an “equal weight” rating and set a $43.00 target price on shares of First Mid Bancshares in a report on Friday, January 24th. Hovde Group reduced their price objective on shares of First Mid Bancshares from $48.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $45.00.

First Mid Bancshares Stock Performance

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 company has a market cap of $745.36 million, a P/E ratio of 9.47 and a beta of 0.85. The company has a 50 day moving average price of $36.83 and a 200-day moving average price of $38.25.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Thursday, January 23rd. The bank reported $0.87 EPS for the quarter, topping the consensus estimate of $0.82 by $0.05. First Mid Bancshares had a return on equity of 10.10% and a net margin of 17.39%. On average, equities analysts expect that First Mid Bancshares, Inc. will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 13th were given a $0.24 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $0.96 dividend on an annualized basis and a yield of 3.09%. First Mid Bancshares’s dividend payout ratio is currently 29.18%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake in shares of First Mid Bancshares by 16.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,959 shares of the bank’s stock valued at $72,000 after buying an additional 276 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in First Mid Bancshares by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,016 shares of the bank’s stock worth $479,000 after acquiring an additional 458 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of First Mid Bancshares by 6.6% during the fourth quarter. Two Sigma Advisers LP now owns 8,100 shares of the bank’s stock valued at $298,000 after acquiring an additional 500 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of First Mid Bancshares by 804.9% during the fourth quarter. Sterling Capital Management LLC now owns 733 shares of the bank’s stock worth $27,000 after purchasing an additional 652 shares during the period. Finally, MetLife Investment Management LLC grew its stake in shares of First Mid Bancshares by 6.0% in the fourth quarter. MetLife Investment Management LLC now owns 13,737 shares of the bank’s stock worth $506,000 after purchasing an additional 776 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.