First Mid Bancshares (NASDAQ:FMBH) Shares Up 4.9% – Time to Buy?

First Mid Bancshares, Inc. (NASDAQ:FMBH) shares rose 4.9% during mid-day trading on Thursday . The stock traded as high as $40.08 and last traded at $39.87. Approximately 3,448 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 57,991 shares. The stock had previously closed at $38.01.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. DA Davidson downgraded 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 research report on Tuesday, November 12th. Keefe, Bruyette & Woods increased their price target 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. Piper Sandler lifted their price objective on First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Stephens cut First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, First Mid Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

First Mid Bancshares Price Performance

The stock has a market cap of $899.81 million, a price-to-earnings ratio of 11.58 and a beta of 0.91. The company’s 50 day moving average is $40.56 and its 200 day moving average is $37.76. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.91 and a quick ratio of 0.91.

First Mid Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.55%. First Mid Bancshares’s payout ratio is 29.54%.

Institutional Investors Weigh In On First Mid Bancshares

Institutional investors and hedge funds have recently modified their holdings of the company. American Century Companies Inc. raised its holdings 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 purchasing an additional 65,314 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 in the last quarter. Wellington Management Group LLP raised its stake in shares of 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 buying an additional 26,560 shares during the last quarter. Barclays PLC boosted 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 buying an additional 26,315 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in First Mid Bancshares in the 3rd quarter valued at about $869,000. Institutional investors and hedge funds own 47.57% of the company’s stock.

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.