First Mid Bancshares (NASDAQ:FMBH) Sets New 1-Year High at $40.59

First Mid Bancshares, Inc. (NASDAQ:FMBH)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $40.59 and last traded at $40.57, with a volume of 16413 shares changing hands. The stock had previously closed at $39.79.

Wall Street Analysts Forecast Growth

Separately, Hovde Group started coverage on First Mid Bancshares in a research note on Wednesday, June 26th. They issued an “outperform” rating and a $35.00 price target on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.60.

First Mid Bancshares Stock Up 2.1 %

The firm has a market capitalization of $970.18 million, a PE ratio of 13.09 and a beta of 0.89. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average of $38.36 and a two-hundred day moving average of $33.86.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings data on Thursday, August 1st. The bank reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.05. The company had revenue of $79.19 million for the quarter, compared to the consensus estimate of $78.25 million. First Mid Bancshares had a return on equity of 10.43% and a net margin of 16.75%. On average, equities research analysts forecast that First Mid Bancshares, Inc. will post 3.47 EPS for the current year.

First Mid Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.36%. This is a boost from First Mid Bancshares’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, August 16th. First Mid Bancshares’s payout ratio is 30.97%.

Institutional Investors Weigh In On First Mid Bancshares

Large investors have recently made changes to their positions in the business. ICA Group Wealth Management LLC purchased a new stake in First Mid Bancshares during the 4th quarter worth $25,000. CWM LLC boosted its position in shares of First Mid Bancshares by 344.2% in the second quarter. CWM LLC now owns 884 shares of the bank’s stock worth $29,000 after buying an additional 685 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of First Mid Bancshares in the first quarter valued at about $29,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of First Mid Bancshares during the 1st quarter valued at about $208,000. Finally, Jump Financial LLC acquired a new position in First Mid Bancshares during the 4th quarter worth approximately $252,000. 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.