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

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 Analysts Forecast Growth

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on 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. Stephens reissued an “equal weight” rating and issued a $43.00 price objective on shares of First Mid Bancshares in a research note on Friday, January 24th. Finally, Hovde Group reduced their price objective 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, First Mid Bancshares presently has a consensus rating of “Hold” and an average price target of $45.00.

First Mid Bancshares Stock Performance

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41. The firm has a 50-day simple moving average of $37.23 and a two-hundred day simple moving average of $38.61. The company 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 issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.87 EPS for the quarter, beating 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, sell-side analysts forecast that First Mid Bancshares, Inc. will post 3.61 earnings per share 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. Stockholders of record on Thursday, February 13th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Thursday, February 13th. First Mid Bancshares’s dividend payout ratio is 29.18%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FMBH. Sterling Capital Management LLC grew its holdings in First Mid Bancshares by 804.9% in the 4th quarter. Sterling Capital Management LLC now owns 733 shares of the bank’s stock valued at $27,000 after buying an additional 652 shares during the last quarter. Federated Hermes Inc. grew its holdings in First Mid Bancshares by 1,226.4% in the 4th 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 acquired a new stake in First Mid Bancshares in the 4th quarter valued at approximately $65,000. Tower Research Capital LLC TRC grew its holdings in First Mid Bancshares by 16.4% in the 4th 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 acquired a new stake in First Mid Bancshares in the 4th quarter valued at approximately $76,000. Institutional investors and hedge funds 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.