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

First Mid Bancshares, Inc. (NASDAQ:FMBH) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $45.10 and last traded at $44.8640, with a volume of 34472 shares trading hands. The stock had previously closed at $44.62.

Analysts Set New Price Targets

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

First Mid Bancshares Trading Up 0.9%

The firm’s 50 day moving average price is $43.01 and its 200-day moving average price is $41.56. The stock has a market cap of $1.20 billion, a P/E ratio of 11.34 and a beta of 0.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 0.97.

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

First Mid Bancshares Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FMBH. AQR Capital Management LLC lifted its position in First Mid Bancshares by 256.9% during the first quarter. AQR Capital Management LLC now owns 105,648 shares of the bank’s stock valued at $3,687,000 after purchasing an additional 76,050 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in First Mid Bancshares by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,566 shares of the bank’s stock valued at $473,000 after purchasing an additional 550 shares during the period. Jones Financial Companies Lllp lifted its position in First Mid Bancshares by 1,662.9% during the first quarter. Jones Financial Companies Lllp now owns 4,231 shares of the bank’s stock valued at $148,000 after purchasing an additional 3,991 shares during the period. Empowered Funds LLC lifted its position in First Mid Bancshares by 31.5% during the first quarter. Empowered Funds LLC now owns 72,134 shares of the bank’s stock valued at $2,517,000 after purchasing an additional 17,266 shares during the period. Finally, Jane Street Group LLC lifted its position in First Mid Bancshares by 494.1% during the first quarter. Jane Street Group LLC now owns 32,755 shares of the bank’s stock valued at $1,143,000 after purchasing an additional 27,242 shares during the period. Institutional investors 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.