First Mid Bancshares (NASDAQ:FMBH) Stock Passes Below Two Hundred Day Moving Average of $31.88

First Mid Bancshares, Inc. (NASDAQ:FMBH)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $31.88 and traded as low as $30.40. First Mid Bancshares shares last traded at $30.90, with a volume of 40,229 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their price objective on shares of First Mid Bancshares from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, April 29th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

First Mid Bancshares Price Performance

The firm has a market capitalization of $729.43 million, a P/E ratio of 9.85 and a beta of 0.89. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.46. The business’s 50-day simple moving average is $31.54 and its 200 day simple moving average is $31.86.

First Mid Bancshares (NASDAQ:FMBH) last announced its quarterly earnings data on Wednesday, April 24th. The bank reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.07. The firm had revenue of $79.95 million during the quarter, compared to the consensus estimate of $80.20 million. First Mid Bancshares had a return on equity of 10.56% and a net margin of 17.01%. Sell-side analysts forecast that First Mid Bancshares, Inc. will post 3.23 earnings per share for the current year.

First Mid Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.01%. The ex-dividend date was Tuesday, May 14th. First Mid Bancshares’s dividend payout ratio (DPR) is currently 29.68%.

Hedge Funds Weigh In On First Mid Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of FMBH. Swiss National Bank boosted its position in First Mid Bancshares by 2.3% during the 3rd quarter. Swiss National Bank now owns 40,600 shares of the bank’s stock valued at $1,078,000 after acquiring an additional 900 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in First Mid Bancshares by 8.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 145,540 shares of the bank’s stock worth $3,866,000 after purchasing an additional 11,799 shares during the period. Gendell Jeffrey L bought a new position in First Mid Bancshares in the third quarter worth $5,714,000. Endeavour Capital Advisors Inc. purchased a new position in First Mid Bancshares during the third quarter valued at $10,895,000. Finally, Kennedy Capital Management LLC boosted its holdings in shares of First Mid Bancshares by 7.3% during the 3rd quarter. Kennedy Capital Management LLC now owns 271,994 shares of the bank’s stock valued at $7,224,000 after buying an additional 18,490 shares in the last quarter. Hedge funds and other institutional investors 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.