First Mid Bancshares (NASDAQ:FMBH) Stock Passes Below 200-Day Moving Average - Time to Sell?

First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $38.86 and traded as low as $37.34. First Mid Bancshares shares last traded at $39.27, with a volume of 62,716 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FMBH. Piper Sandler lifted their target price on First Mid Bancshares from $46.00 to $47.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods boosted their price objective 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. Stephens reissued an "equal weight" rating and set a $43.00 price objective on shares of First Mid Bancshares in a research report on Friday, January 24th. Finally, DA Davidson downgraded First Mid Bancshares from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $44.00 to $47.00 in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $43.40.

First Mid Bancshares Stock Performance

The firm has a 50 day moving average of $37.84 and a two-hundred day moving average of $38.85. The stock has a market cap of $923.64 million, a PE ratio of 11.74 and a beta of 0.93. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.91 and a quick ratio of 0.91.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last posted its earnings results on Thursday, January 23rd. The bank reported $0.87 earnings per share 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 predict that First Mid Bancshares, Inc. will post 3.58 EPS for the current fiscal year.

First Mid Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Thursday, February 13th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, February 13th. First Mid Bancshares's payout ratio is 29.18%.

Insider Buying and Selling

In other First Mid Bancshares news, Director James Edwin Zimmer bought 1,000 shares of the firm's stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average price of $39.87 per share, for a total transaction of $39,870.00. Following the completion of the purchase, the director now directly owns 4,050 shares in the company, valued at $161,473.50. This trade represents a 32.79 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Mid Bancshares

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in First Mid Bancshares by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 1,309,240 shares of the bank's stock valued at $48,206,000 after purchasing an additional 31,231 shares during the last quarter. Dimensional Fund Advisors LP grew its position in First Mid Bancshares by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 891,154 shares of the bank's stock worth $32,813,000 after purchasing an additional 54,285 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of First Mid Bancshares by 11.3% during the fourth quarter. American Century Companies Inc. now owns 451,057 shares of the bank's stock worth $16,608,000 after buying an additional 45,788 shares during the period. Wellington Management Group LLP boosted its stake in shares of First Mid Bancshares by 3.8% during the fourth quarter. Wellington Management Group LLP now owns 402,826 shares of the bank's stock worth $14,832,000 after buying an additional 14,900 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of First Mid Bancshares by 5.2% during the fourth quarter. Northern Trust Corp now owns 221,975 shares of the bank's stock worth $8,173,000 after buying an additional 10,925 shares during the last quarter. 47.57% of the stock is 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.