First Mid Bancshares (NASDAQ:FMBH) Sees Strong Trading Volume – Still a Buy?

First Mid Bancshares, Inc. (NASDAQ:FMBH) shares saw unusually-high trading volume on Friday . Approximately 33,243 shares were traded during mid-day trading, a decline of 43% from the previous session’s volume of 58,068 shares.The stock last traded at $37.23 and had previously closed at $37.55.

Wall Street Analyst Weigh In

FMBH has been the topic of several recent research reports. DA Davidson cut shares of First Mid Bancshares from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $44.00 to $47.00 in a research note on Tuesday, November 12th. Stephens lowered shares of First Mid Bancshares from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods increased their price objective on 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. Finally, Piper Sandler lifted 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

First Mid Bancshares Stock Performance

The firm’s 50-day simple moving average is $40.55 and its two-hundred day simple moving average is $37.81. 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 stock has a market capitalization of $906.26 million, a PE ratio of 11.66 and a beta of 0.91.

First Mid Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.53%. First Mid Bancshares’s dividend payout ratio is 29.54%.

Institutional Investors Weigh In On First Mid Bancshares

Several hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake 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 valued at $25,584,000 after acquiring an additional 36,769 shares in the last quarter. Wellington Management Group LLP grew its position in First Mid Bancshares by 7.3% during the third quarter. Wellington Management Group LLP now owns 387,926 shares of the bank’s stock valued at $15,094,000 after purchasing an additional 26,560 shares in the last quarter. American Century Companies Inc. increased its stake in First Mid Bancshares by 23.7% in the 2nd quarter. American Century Companies Inc. now owns 340,343 shares of the bank’s stock valued at $11,190,000 after buying an additional 65,314 shares during the period. Bank of New York Mellon Corp increased its stake in First Mid Bancshares by 7.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 118,048 shares of the bank’s stock valued at $3,881,000 after buying an additional 7,849 shares during the period. Finally, Creative Planning lifted its position in First Mid Bancshares by 2.1% in the 2nd quarter. Creative Planning now owns 106,397 shares of the bank’s stock worth $3,498,000 after buying an additional 2,186 shares in the last quarter. 47.57% of the stock is owned by hedge funds and other 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.