First Mid Bancshares (NASDAQ:FMBH) Sees Strong Trading Volume

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) saw unusually-high trading volume on Friday . Approximately 36,129 shares changed hands during trading, a decline of 28% from the previous session’s volume of 50,517 shares.The stock last traded at $30.43 and had previously closed at $30.52.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price target 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 four have assigned a buy rating to the company. According to data from MarketBeat.com, First Mid Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

First Mid Bancshares Price Performance

The stock has a market cap of $725.13 million, a P/E ratio of 9.79 and a beta of 0.89. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.46. The company’s fifty day simple moving average is $31.55 and its 200-day simple moving average is $31.85.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Wednesday, April 24th. The bank reported $0.93 EPS for the quarter, beating the consensus estimate of $0.86 by $0.07. First Mid Bancshares had a net margin of 17.01% and a return on equity of 10.56%. The company had revenue of $79.95 million for the quarter, compared to the consensus estimate of $80.20 million. As a group, sell-side analysts forecast that First Mid Bancshares, Inc. will post 3.23 EPS for the current year.

First Mid Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.03%. First Mid Bancshares’s dividend payout ratio is presently 29.68%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FMBH. ICA Group Wealth Management LLC bought a new stake in shares of First Mid Bancshares in the 4th quarter valued at about $25,000. EntryPoint Capital LLC bought a new position in shares of First Mid Bancshares during the 1st quarter worth approximately $29,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of First Mid Bancshares by 48.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,370 shares of the bank’s stock worth $186,000 after acquiring an additional 1,743 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of First Mid Bancshares in the 4th quarter valued at approximately $208,000. Finally, Arizona State Retirement System acquired a new stake in shares of First Mid Bancshares in the 4th quarter valued at approximately $208,000. Institutional investors and hedge funds own 47.57% of the company’s stock.

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.