First Mid Bancshares (NASDAQ:FMBH) Sees Large Volume Increase - Here's What Happened

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) saw strong trading volume on Friday . 46,607 shares traded hands during mid-day trading, a decline of 17% from the previous session's volume of 55,934 shares.The stock last traded at $35.08 and had previously closed at $35.24.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Hovde Group cut their target price on First Mid Bancshares from $48.00 to $43.00 and set an "outperform" rating on the stock in a research note on Friday, March 14th. Stephens restated an "equal weight" rating and issued a $43.00 price objective on shares of First Mid Bancshares in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods increased their target price on shares of First Mid Bancshares from $42.00 to $45.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, First Mid Bancshares presently has a consensus rating of "Hold" and an average target price of $45.00.

First Mid Bancshares Stock Performance

The company has a 50-day moving average price of $37.24 and a two-hundred day moving average price of $38.56. 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 stock has a market capitalization of $858.44 million, a P/E ratio of 10.88 and a beta of 0.88.

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First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.87 EPS for the quarter, beating the consensus estimate of $0.82 by $0.05. First Mid Bancshares had a net margin of 17.39% and a return on equity of 10.10%. Equities analysts expect that First Mid Bancshares, Inc. will post 3.61 earnings per share for the current year.

First Mid Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 13th were issued a $0.24 dividend. The ex-dividend date was Thursday, February 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.68%. First Mid Bancshares's payout ratio is currently 29.18%.

Institutional Investors Weigh In On First Mid Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC grew its stake in First Mid Bancshares by 804.9% in the 4th quarter. Sterling Capital Management LLC now owns 733 shares of the bank's stock worth $27,000 after buying an additional 652 shares in the last quarter. Federated Hermes Inc. grew its position in First Mid Bancshares by 1,226.4% in the fourth quarter. Federated Hermes Inc. now owns 955 shares of the bank's stock worth $35,000 after acquiring an additional 883 shares in the last quarter. Aquatic Capital Management LLC bought a new position in First Mid Bancshares in the fourth quarter valued at $65,000. Tower Research Capital LLC TRC raised its position in First Mid Bancshares by 16.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,959 shares of the bank's stock valued at $72,000 after purchasing an additional 276 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in First Mid Bancshares during the fourth quarter valued at about $76,000. 47.57% of the stock is owned by hedge funds and other 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.