First Mid Bancshares (NASDAQ:FMBH) Hits New 12-Month High at $40.48

First Mid Bancshares, Inc. (NASDAQ:FMBH) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $40.48 and last traded at $40.48, with a volume of 32680 shares. The stock had previously closed at $38.24.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Hovde Group started coverage on First Mid Bancshares in a report on Wednesday, June 26th. They issued an “outperform” rating and a $35.00 price objective on the stock. Piper Sandler cut their price objective on shares of First Mid Bancshares from $39.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, First Mid Bancshares currently has an average rating of “Moderate Buy” and an average price target of $36.60.

First Mid Bancshares Price Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $954.88 million, a price-to-earnings ratio of 12.89 and a beta of 0.90. The stock has a 50-day moving average price of $35.58 and a 200 day moving average price of $32.73.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings results on Thursday, August 1st. The bank reported $0.84 EPS for the quarter, topping the consensus estimate of $0.79 by $0.05. First Mid Bancshares had a return on equity of 10.55% and a net margin of 16.75%. The company had revenue of $79.19 million for the quarter, compared to analyst estimates of $78.25 million. As a group, equities research analysts forecast that First Mid Bancshares, Inc. will post 3.23 earnings per share for the current fiscal year.

First Mid Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.24 dividend. This is an increase from First Mid Bancshares’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.96 annualized dividend and a yield of 2.40%. First Mid Bancshares’s dividend payout ratio is 30.97%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of First Mid Bancshares by 7.1% in the first quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock valued at $42,230,000 after buying an additional 85,434 shares during the last quarter. American Century Companies Inc. lifted its position in First Mid Bancshares by 23.7% during the 2nd quarter. American Century Companies Inc. now owns 340,343 shares of the bank’s stock worth $11,190,000 after acquiring an additional 65,314 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of First Mid Bancshares by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank’s stock valued at $25,584,000 after purchasing an additional 36,769 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of First Mid Bancshares by 21.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 176,704 shares of the bank’s stock valued at $6,125,000 after purchasing an additional 31,164 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of First Mid Bancshares by 5.9% during the fourth quarter. Wellington Management Group LLP now owns 294,666 shares of the bank’s stock worth $10,213,000 after purchasing an additional 16,388 shares during the last quarter. 47.57% of the stock is owned by hedge funds and other institutional investors.

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.