First Mid Bancshares (NASDAQ:FMBH) Trading 4.9% Higher - What's Next?

First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report)'s stock price shot up 4.9% during mid-day trading on Thursday . The stock traded as high as $40.08 and last traded at $39.87. 3,448 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 57,991 shares. The stock had previously closed at $38.01.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FMBH. Piper Sandler increased their price target on shares of First Mid Bancshares from $46.00 to $47.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Stephens lowered First Mid Bancshares from an "overweight" rating to an "equal weight" rating in a report on Monday, December 9th. Keefe, Bruyette & Woods boosted their price objective 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. Finally, DA Davidson downgraded shares of First Mid Bancshares from a "buy" rating to a "neutral" rating and raised their target price for the company from $44.00 to $47.00 in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, First Mid Bancshares presently has an average rating of "Moderate Buy" and an average price target of $42.50.

First Mid Bancshares Trading Down 1.2 %

The business has a 50-day moving average of $40.56 and a 200 day moving average of $37.76. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $897.90 million, a PE ratio of 11.55 and a beta of 0.91.

First Mid Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were issued a $0.24 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.96 annualized dividend and a yield of 2.56%. First Mid Bancshares's dividend payout ratio (DPR) is presently 29.54%.

Institutional Trading of First Mid Bancshares

A number of hedge funds have recently added to or reduced their stakes in FMBH. CWM LLC lifted its stake in shares of First Mid Bancshares by 344.2% in the 2nd quarter. CWM LLC now owns 884 shares of the bank's stock valued at $29,000 after purchasing an additional 685 shares in the last quarter. Quantbot Technologies LP purchased a new stake in First Mid Bancshares during the 3rd quarter worth approximately $84,000. PDT Partners LLC acquired a new stake in First Mid Bancshares in the third quarter valued at $203,000. Centiva Capital LP acquired a new stake in shares of First Mid Bancshares in the 3rd quarter valued at about $213,000. Finally, BNP Paribas Financial Markets lifted its holdings in First Mid Bancshares by 33.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,001 shares of the bank's stock worth $233,000 after buying an additional 1,510 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.