First Mid Bancshares (NASDAQ:FMBH) Sees Unusually-High Trading Volume – Here’s Why

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) saw strong trading volume on Friday . 46,607 shares changed hands during trading, a decline of 17% from the previous session’s volume of 55,934 shares.The stock last traded at $35.08 and had previously closed at $35.24.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FMBH. Stephens reiterated an “equal weight” rating and issued a $43.00 price objective on shares of First Mid Bancshares in a research report on Friday, January 24th. Keefe, Bruyette & Woods lifted their target price on First Mid Bancshares from $42.00 to $45.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Hovde Group lowered their target price on First Mid Bancshares from $48.00 to $43.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $45.00.

First Mid Bancshares Trading Down 0.4 %

The company has a debt-to-equity ratio of 0.41, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50 day moving average of $37.23 and a 200 day moving average of $38.61. The firm has a market capitalization of $842.01 million, a price-to-earnings ratio of 10.67 and a beta of 0.88.

First Mid Bancshares (NASDAQ:FMBH) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. First Mid Bancshares had a return on equity of 10.10% and a net margin of 17.39%. As a group, research analysts predict that First Mid Bancshares, Inc. will post 3.61 earnings per share for the current fiscal year.

First Mid Bancshares Dividend Announcement

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 was Thursday, February 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.73%. First Mid Bancshares’s dividend payout ratio (DPR) is presently 29.18%.

Institutional Investors Weigh In On First Mid Bancshares

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in First Mid Bancshares by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 1,309,240 shares of the bank’s stock worth $48,206,000 after acquiring an additional 31,231 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in First Mid Bancshares by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 891,154 shares of the bank’s stock worth $32,813,000 after acquiring an additional 54,285 shares in the last quarter. American Century Companies Inc. lifted its holdings in 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 acquiring an additional 45,788 shares in the last quarter. Wellington Management Group LLP lifted its holdings in 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 acquiring an additional 14,900 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in 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 acquiring an additional 10,925 shares in 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.