First Mid Bancshares (NASDAQ:FMBH) Stock Crosses Below 200-Day Moving Average - Here's Why

Key Points

• First Mid Bancshares (NASDAQ:FMBH) shares have crossed below their 200-day moving average, with the stock trading at $36.47 after previously being at $36.90.
• Analysts have mixed opinions on the stock, with ratings ranging from "buy" to "hold", and an average price target of $43.33.
• The company recently declared a quarterly dividend increase to $0.25 per share, reflecting a 2.7% yield and a payout ratio of 28.41%.

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $36.90 and traded as low as $36.47. First Mid Bancshares shares last traded at $37.04, with a volume of 72,804 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently commented on FMBH. Wall Street Zen raised First Mid Bancshares from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Weiss Ratings restated a "buy (b-)" rating on shares of First Mid Bancshares in a research note on Saturday, September 27th. Piper Sandler upped their price objective on First Mid Bancshares from $47.00 to $49.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, DA Davidson upped their price objective on First Mid Bancshares from $39.00 to $42.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, First Mid Bancshares presently has an average rating of "Moderate Buy" and an average target price of $43.33.

First Mid Bancshares Stock Performance

The business has a 50 day simple moving average of $38.86 and a 200 day simple moving average of $36.90. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $888.96 million, a PE ratio of 10.52 and a beta of 0.89.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The bank reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.08. First Mid Bancshares had a return on equity of 10.09% and a net margin of 18.32%.The company had revenue of $88.23 million during the quarter, compared to analysts' expectations of $64.42 million. Equities research analysts predict that First Mid Bancshares, Inc. will post 3.61 EPS for the current fiscal year.

First Mid Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.7%. This is a boost from First Mid Bancshares's previous quarterly dividend of $0.24. The ex-dividend date was Friday, August 15th. First Mid Bancshares's dividend payout ratio (DPR) is 28.41%.

Insider Buying and Selling

In other First Mid Bancshares news, CEO Clay M. Dean sold 1,553 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $37.64, for a total value of $58,454.92. Following the completion of the sale, the chief executive officer directly owned 11,229 shares in the company, valued at approximately $422,659.56. This trade represents a 12.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. acquired a new position in shares of First Mid Bancshares in the first quarter valued at about $26,000. Meeder Asset Management Inc. acquired a new position in shares of First Mid Bancshares in the first quarter valued at about $29,000. Strs Ohio acquired a new position in shares of First Mid Bancshares in the first quarter valued at about $42,000. Federated Hermes Inc. increased its holdings in shares of First Mid Bancshares by 35.6% in the first quarter. Federated Hermes Inc. now owns 1,295 shares of the bank's stock valued at $45,000 after purchasing an additional 340 shares during the period. Finally, State of Wyoming increased its holdings in shares of First Mid Bancshares by 33.4% in the first quarter. State of Wyoming now owns 1,410 shares of the bank's stock valued at $49,000 after purchasing an additional 353 shares during the period. 47.57% of the stock is owned by institutional investors and hedge funds.

First Mid Bancshares Company Profile

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.

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