First Mid Bancshares (NASDAQ:FMBH) Sees Unusually-High Trading Volume

First Mid Bancshares, Inc. (NASDAQ:FMBH) saw unusually-high trading volume on Friday . Approximately 46,194 shares changed hands during trading, a decline of 20% from the previous session’s volume of 57,501 shares.The stock last traded at $40.02 and had previously closed at $40.60.

Wall Street Analyst Weigh In

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

First Mid Bancshares Stock Down 0.8 %

The company has a 50-day moving average price of $38.48 and a 200 day moving average price of $33.90. The firm has a market capitalization of $962.77 million, a PE ratio of 12.91 and a beta of 0.89. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.91.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Thursday, August 1st. The bank reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.05. First Mid Bancshares had a return on equity of 10.43% and a net margin of 16.75%. The firm had revenue of $79.19 million for the quarter, compared to analysts’ expectations of $78.25 million. Analysts forecast that First Mid Bancshares, Inc. will post 3.47 earnings per share for the current year.

First Mid Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.38%. 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

Several large investors have recently made changes to their positions in FMBH. Swiss National Bank increased its holdings in shares of First Mid Bancshares by 4.4% in the fourth quarter. Swiss National Bank now owns 42,400 shares of the bank’s stock worth $1,470,000 after purchasing an additional 1,800 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in First Mid Bancshares by 21.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 176,704 shares of the bank’s stock worth $6,125,000 after acquiring an additional 31,164 shares during the last quarter. Jump Financial LLC bought a new stake in First Mid Bancshares during the fourth quarter worth approximately $252,000. Dimensional Fund Advisors LP increased its stake in First Mid Bancshares by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 678,953 shares of the bank’s stock worth $23,533,000 after acquiring an additional 34,401 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in First Mid Bancshares by 5.9% during the fourth quarter. Wellington Management Group LLP now owns 294,666 shares of the bank’s stock worth $10,213,000 after acquiring an additional 16,388 shares during the last quarter. 47.57% of the stock is owned by institutional investors.

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.