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

First Mid Bancshares, Inc. (NASDAQ:FMBH) shares saw unusually-strong trading volume on Friday . Approximately 46,607 shares changed hands during mid-day 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.

Wall Street Analyst Weigh In

A number of analysts have issued reports on FMBH shares. Hovde Group cut 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. Keefe, Bruyette & Woods raised their target price on First Mid Bancshares from $42.00 to $45.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $43.00 target price on shares of First Mid Bancshares in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $45.00.

First Mid Bancshares Stock Performance

The company has a market capitalization of $839.85 million, a price-to-earnings ratio of 10.64 and a beta of 0.88. 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 firm has a 50-day simple moving average of $37.24 and a two-hundred day simple moving average of $38.56.

First Mid Bancshares (NASDAQ:FMBH) last released its earnings results on Thursday, January 23rd. The bank reported $0.87 earnings per share for the quarter, beating 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%. On average, sell-side analysts anticipate that First Mid Bancshares, Inc. will post 3.61 EPS for the current fiscal year.

First Mid Bancshares Dividend Announcement

The firm also recently announced 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. This represents a $0.96 annualized dividend and a yield of 2.74%. The ex-dividend date was Thursday, February 13th. First Mid Bancshares’s payout ratio is 29.18%.

Institutional Investors Weigh In On First Mid Bancshares

Several institutional investors have recently added to or reduced their stakes in FMBH. Sterling Capital Management LLC lifted its stake in First Mid Bancshares by 804.9% during the fourth quarter. Sterling Capital Management LLC now owns 733 shares of the bank’s stock worth $27,000 after purchasing an additional 652 shares during the last quarter. Federated Hermes Inc. lifted its stake in First Mid Bancshares by 1,226.4% in the fourth quarter. Federated Hermes Inc. now owns 955 shares of the bank’s stock valued at $35,000 after buying an additional 883 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in First Mid Bancshares in the fourth quarter valued at approximately $65,000. Tower Research Capital LLC TRC lifted its stake in First Mid Bancshares by 16.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,959 shares of the bank’s stock valued at $72,000 after buying an additional 276 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in First Mid Bancshares in the fourth quarter valued at approximately $76,000. Hedge funds and other institutional investors own 47.57% of the company’s stock.

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.