First Mid Bancshares (NASDAQ:FMBH) Hits New 52-Week High - Here's What Happened

First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $43.30 and last traded at $43.16, with a volume of 10050 shares changing hands. The stock had previously closed at $43.20.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Stephens raised their price objective on shares of First Mid Bancshares from $40.00 to $43.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. DA Davidson lowered First Mid Bancshares from a "buy" rating to a "neutral" rating and increased their target price for the company from $44.00 to $47.00 in a research note on Tuesday. Piper Sandler boosted their target price on First Mid Bancshares from $46.00 to $47.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Finally, Keefe, Bruyette & Woods cut First Mid Bancshares from an "outperform" rating to a "market perform" rating and set a $42.00 price target for the company. in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, First Mid Bancshares presently has an average rating of "Moderate Buy" and an average target price of $42.00.

First Mid Bancshares Trading Down 1.0 %

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $1.02 billion, a P/E ratio of 13.29 and a beta of 0.89. The business has a 50 day moving average price of $38.91 and a 200 day moving average price of $36.02.

First Mid Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.24%. First Mid Bancshares's payout ratio is 29.54%.

Institutional Trading of First Mid Bancshares

A number of large investors have recently bought and sold shares of the business. Victory Capital Management Inc. increased its stake in First Mid Bancshares by 2.2% during the 2nd quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank's stock worth $998,000 after purchasing an additional 650 shares in the last quarter. CWM LLC boosted its position in First Mid Bancshares by 344.2% during the 2nd quarter. CWM LLC now owns 884 shares of the bank's stock worth $29,000 after acquiring an additional 685 shares during the last quarter. EntryPoint Capital LLC acquired a new position in First Mid Bancshares during the 1st quarter worth approximately $29,000. Rhumbline Advisers boosted its position in First Mid Bancshares by 3.3% during the 2nd quarter. Rhumbline Advisers now owns 33,272 shares of the bank's stock worth $1,094,000 after acquiring an additional 1,049 shares during the last quarter. Finally, Choreo LLC boosted its position in First Mid Bancshares by 17.9% during the 2nd quarter. Choreo LLC now owns 7,568 shares of the bank's stock worth $246,000 after acquiring an additional 1,149 shares during the last quarter. 47.57% of the stock is owned by institutional investors.

First Mid Bancshares Company Profile

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.

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