First Mid Bancshares (NASDAQ:FMBH) Stock Crosses Below 200 Day Moving Average - Should You Sell?

First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $38.36 and traded as low as $33.79. First Mid Bancshares shares last traded at $34.59, with a volume of 65,182 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FMBH shares. Piper Sandler lifted their price objective on First Mid Bancshares from $46.00 to $47.00 and gave the company an "overweight" rating in a report on Friday, November 1st. DA Davidson lowered shares of First Mid Bancshares from a "buy" rating to a "neutral" rating and lifted their price target for the company from $44.00 to $47.00 in a research note on Tuesday, November 12th. Stephens downgraded shares of First Mid Bancshares from an "overweight" rating to an "equal weight" rating in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of First Mid Bancshares from $42.00 to $45.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.50.

First Mid Bancshares Stock Down 2.8 %

The stock's fifty day moving average price is $39.82 and its 200-day moving average price is $38.44. 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 $827.12 million, a price-to-earnings ratio of 10.64 and a beta of 0.93.

First Mid Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Thursday, November 14th. First Mid Bancshares's payout ratio is 29.54%.

Institutional Investors Weigh In On First Mid Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in shares of First Mid Bancshares by 24.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 133,132 shares of the bank's stock worth $5,180,000 after purchasing an additional 25,855 shares during the last quarter. Franklin Resources Inc. acquired a new position in First Mid Bancshares during the third quarter worth approximately $566,000. Barclays PLC increased its position in First Mid Bancshares by 327.6% during the third quarter. Barclays PLC now owns 34,347 shares of the bank's stock worth $1,337,000 after buying an additional 26,315 shares during the last quarter. Wellington Management Group LLP raised its stake in First Mid Bancshares by 7.3% in the third quarter. Wellington Management Group LLP now owns 387,926 shares of the bank's stock valued at $15,094,000 after buying an additional 26,560 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its position 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 buying an additional 900 shares during the last quarter. Institutional investors own 47.57% of the company's stock.

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.