First Mid Bancshares (NASDAQ:FMBH) Reaches New 12-Month High – Time to Buy?

First Mid Bancshares, Inc. (NASDAQ:FMBH)’s stock price hit a new 52-week high on Thursday . The company traded as high as $46.44 and last traded at $46.14, with a volume of 117854 shares trading hands. The stock had previously closed at $45.67.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FMBH. Weiss Ratings reiterated a “buy (b)” rating on shares of First Mid Bancshares in a research report on Friday, May 1st. Keefe, Bruyette & Woods upped their price target on First Mid Bancshares from $46.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, May 1st. DA Davidson upped their price target on First Mid Bancshares from $44.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Piper Sandler reiterated an “overweight” rating and issued a $55.00 price target (up from $52.00) on shares of First Mid Bancshares in a research report on Friday, May 1st. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $48.00 price target on shares of First Mid Bancshares in a research report on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, First Mid Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.50.

First Mid Bancshares Trading Up 1.0%

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 11.62 and a beta of 0.80. The business has a 50 day simple moving average of $43.32 and a 200 day simple moving average of $41.81.

First Mid Bancshares (NASDAQ:FMBH) last posted its quarterly earnings data on Wednesday, April 29th. The bank reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.19. The company had revenue of $98.54 million for the quarter, compared to analyst estimates of $96.45 million. First Mid Bancshares had a return on equity of 10.44% and a net margin of 19.95%. As a group, equities analysts forecast that First Mid Bancshares, Inc. will post 4.58 EPS for the current year.

First Mid Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. First Mid Bancshares’s payout ratio is currently 25.19%.

Hedge Funds Weigh In On First Mid Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of FMBH. Clearstead Advisors LLC boosted its stake in First Mid Bancshares by 147.2% in the fourth quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock worth $33,000 after purchasing an additional 505 shares in the last quarter. Strs Ohio acquired a new position in shares of First Mid Bancshares during the first quarter valued at $42,000. Aquatic Capital Management LLC lifted its stake in shares of First Mid Bancshares by 272.5% during the third quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock valued at $54,000 after acquiring an additional 1,052 shares during the period. Federated Hermes Inc. lifted its stake in shares of First Mid Bancshares by 32.0% during the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock valued at $64,000 after acquiring an additional 415 shares during the period. Finally, Quantbot Technologies LP lifted its stake in shares of First Mid Bancshares by 113.0% during the second quarter. Quantbot Technologies LP now owns 2,394 shares of the bank’s stock valued at $90,000 after acquiring an additional 1,270 shares during the period. Institutional investors and hedge funds own 47.57% of the company’s stock.

First Mid Bancshares Company Profile

First Mid Bancshares, Inc (NASDAQ: FMBH), headquartered in Mattoon, Illinois, is a financial services holding company that offers a comprehensive suite of banking products and services through its main subsidiary, First Mid Bank & Trust. The company’s primary business activities include commercial and retail banking, mortgage origination and servicing, wealth management and trust administration, as well as treasury and cash management solutions.

Through its branch network, First Mid provides consumer deposit products such as checking and savings accounts, certificates of deposit and online banking services.