First Mid Bancshares (NASDAQ:FMBH) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

First Mid Bancshares, Inc. (NASDAQ:FMBH) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $38.36 and traded as low as $33.79. First Mid Bancshares shares last traded at $34.59, with a volume of 65,182 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of First Mid Bancshares from $42.00 to $45.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Stephens cut First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. Piper Sandler upped their target price on First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, DA Davidson cut First Mid Bancshares from a “buy” rating to a “neutral” rating and increased their price target for the company from $44.00 to $47.00 in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

First Mid Bancshares Price 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 firm has a market capitalization of $827.12 million, a price-to-earnings ratio of 10.64 and a beta of 0.93. The company’s 50 day moving average is $39.89 and its 200-day moving average is $38.36.

First Mid Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.78%. First Mid Bancshares’s dividend payout ratio is currently 29.54%.

Hedge Funds Weigh In On First Mid Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in First Mid Bancshares by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank’s stock worth $25,584,000 after purchasing an additional 36,769 shares during the last quarter. Wellington Management Group LLP increased its position in 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 period. American Century Companies Inc. lifted its holdings in shares of 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 buying an additional 65,314 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of First Mid Bancshares by 24.1% in the third quarter. JPMorgan Chase & Co. now owns 133,132 shares of the bank’s stock valued at $5,180,000 after acquiring an additional 25,855 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of First Mid Bancshares by 7.1% in the second quarter. Bank of New York Mellon Corp now owns 118,048 shares of the bank’s stock valued at $3,881,000 after acquiring an additional 7,849 shares in 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.