First Mid Bancshares (NASDAQ:FMBH) Sees Strong Trading Volume - Should You Buy?

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) saw unusually-high trading volume on Friday . Approximately 33,243 shares traded hands during 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.

Analyst Upgrades and Downgrades

FMBH has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on First Mid Bancshares from $42.00 to $45.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Stephens lowered shares of First Mid Bancshares from an "overweight" rating to an "equal weight" rating in a research note on Monday, December 9th. DA Davidson downgraded shares of First Mid Bancshares from a "buy" rating to a "neutral" rating and boosted their target price for the company from $44.00 to $47.00 in a research report on Tuesday, November 12th. Finally, Piper Sandler raised their price target on shares of 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 given a buy rating to the company's stock. According to MarketBeat.com, First Mid Bancshares currently has a consensus rating of "Moderate Buy" and an average target price of $42.50.

First Mid Bancshares Price Performance

The business has a 50-day moving average price of $40.56 and a two-hundred day moving average price of $37.76. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $906.26 million, a price-to-earnings ratio of 11.66 and a beta of 0.91.

First Mid Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders 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 annualized dividend and a yield of 2.53%. First Mid Bancshares's payout ratio is 29.54%.

Institutional Investors Weigh In On First Mid Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in FMBH. Victory Capital Management Inc. lifted its position in First Mid Bancshares by 2.2% in the 2nd quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank's stock valued at $998,000 after acquiring an additional 650 shares in the last quarter. CWM LLC raised its stake in shares of First Mid Bancshares by 344.2% in the second quarter. CWM LLC now owns 884 shares of the bank's stock worth $29,000 after purchasing an additional 685 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of First Mid Bancshares by 1.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 88,910 shares of the bank's stock valued at $3,459,000 after purchasing an additional 900 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of First Mid Bancshares by 3.3% in the second quarter. Rhumbline Advisers now owns 33,272 shares of the bank's stock valued at $1,094,000 after purchasing an additional 1,049 shares in the last quarter. Finally, Choreo LLC boosted its position in shares of First Mid Bancshares by 17.9% during the second quarter. Choreo LLC now owns 7,568 shares of the bank's stock valued at $246,000 after buying an additional 1,149 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.