First Mid Bancshares (NASDAQ:FMBH) Shares Gap Up - Here's Why

First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $37.72, but opened at $38.68. First Mid Bancshares shares last traded at $37.96, with a volume of 37,256 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FMBH shares. DA Davidson cut First Mid Bancshares from a "buy" rating to a "neutral" rating and increased their price objective for the company from $44.00 to $47.00 in a research report on Tuesday, November 12th. 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 report on Wednesday, December 4th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $43.00 target price on shares of First Mid Bancshares in a research report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, First Mid Bancshares has a consensus rating of "Hold" and an average target price of $43.40.

First Mid Bancshares Stock Performance

The stock has a market capitalization of $885.70 million, a P/E ratio of 11.26 and a beta of 0.93. The firm has a 50-day moving average of $37.44 and a 200 day moving average of $38.91. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41.

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

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First Mid Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, February 13th. This represents a $0.96 annualized dividend and a yield of 2.59%. First Mid Bancshares's dividend payout ratio is currently 29.18%.

Insiders Place Their Bets

In other First Mid Bancshares news, Director James Edwin Zimmer bought 1,000 shares of the stock in a transaction dated Thursday, December 19th. The stock was bought at an average cost of $39.87 per share, for a total transaction of $39,870.00. Following the completion of the purchase, the director now owns 4,050 shares in the company, valued at $161,473.50. This represents a 32.79 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.70% of the company's stock.

Institutional Trading of First Mid Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in FMBH. JPMorgan Chase & Co. increased its stake in shares of First Mid Bancshares by 51.8% in the fourth quarter. JPMorgan Chase & Co. now owns 202,039 shares of the bank's stock valued at $7,439,000 after buying an additional 68,907 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of First Mid Bancshares by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 891,154 shares of the bank's stock valued at $32,813,000 after buying an additional 54,285 shares in the last quarter. American Century Companies Inc. increased its stake in shares of First Mid Bancshares by 11.3% in the fourth quarter. American Century Companies Inc. now owns 451,057 shares of the bank's stock valued at $16,608,000 after buying an additional 45,788 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of First Mid Bancshares in the fourth quarter valued at $1,518,000. Finally, Vanguard Group Inc. increased its stake in shares of First Mid Bancshares by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 1,309,240 shares of the bank's stock valued at $48,206,000 after buying an additional 31,231 shares in the last quarter. 47.57% of the stock is currently owned by institutional investors and hedge funds.

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.