First Mid Bancshares (NASDAQ:FMBH) Shares Gap Up – What’s Next?

First Mid Bancshares, Inc. (NASDAQ:FMBH)’s stock price 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 traded.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FMBH. DA Davidson lowered First Mid Bancshares from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $44.00 to $47.00 in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods boosted 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 reissued 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $43.40.

First Mid Bancshares Stock Up 1.0 %

The stock has a market cap of $911.05 million, a PE ratio of 11.58 and a beta of 0.93. 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 company’s 50-day moving average price is $37.44 and its 200 day moving average price is $38.90.

First Mid Bancshares (NASDAQ:FMBH) last released 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%. As a group, analysts forecast that First Mid Bancshares, Inc. will post 3.61 EPS for the current fiscal year.

First Mid Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Thursday, February 13th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.52%. First Mid Bancshares’s dividend payout ratio (DPR) is presently 29.18%.

Insider Activity at First Mid Bancshares

In related news, Director James Edwin Zimmer acquired 1,000 shares of the business’s stock in a transaction that occurred on 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 purchase, the director now owns 4,050 shares in the company, valued at $161,473.50. The trade was a 32.79 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 7.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FMBH. JPMorgan Chase & Co. grew its stake in shares of First Mid Bancshares by 51.8% during the 4th quarter. JPMorgan Chase & Co. now owns 202,039 shares of the bank’s stock valued at $7,439,000 after acquiring an additional 68,907 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of First Mid Bancshares by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 891,154 shares of the bank’s stock valued at $32,813,000 after acquiring an additional 54,285 shares during the period. American Century Companies Inc. grew its stake in shares of First Mid Bancshares by 11.3% during the 4th quarter. American Century Companies Inc. now owns 451,057 shares of the bank’s stock valued at $16,608,000 after acquiring an additional 45,788 shares during the period. Tudor Investment Corp ET AL bought a new position in First Mid Bancshares in the 4th quarter worth approximately $1,518,000. Finally, Vanguard Group Inc. boosted its stake 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 worth $48,206,000 after purchasing an additional 31,231 shares during the period. 47.57% of the stock is currently owned by institutional investors.

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.