First Mid Bancshares (NASDAQ:FMBH) Stock Price Crosses Below 200-Day Moving Average - Should You Sell?

First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $36.39 and traded as low as $33.92. First Mid Bancshares shares last traded at $35.29, with a volume of 59,888 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently weighed in on FMBH. Stephens reissued a "positive" rating on shares of First Mid Bancshares in a report on Friday, May 2nd. Hovde Group decreased their price objective on First Mid Bancshares from $48.00 to $43.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. Finally, Raymond James Financial reissued an "outperform" rating and set a $40.00 price objective (down from $43.00) on shares of First Mid Bancshares in a report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, First Mid Bancshares currently has an average rating of "Moderate Buy" and a consensus target price of $43.83.

First Mid Bancshares Trading Up 1.0%

The firm has a 50-day moving average of $35.00 and a 200-day moving average of $36.39. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $846.61 million, a P/E ratio of 10.50 and a beta of 0.87.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The bank reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.02. First Mid Bancshares had a return on equity of 9.90% and a net margin of 17.75%. The business had revenue of $85.21 million for the quarter, compared to analyst estimates of $58.29 million. On average, equities research analysts anticipate that First Mid Bancshares, Inc. will post 3.61 EPS for the current fiscal year.

First Mid Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.96 annualized dividend and a yield of 2.72%. First Mid Bancshares's payout ratio is 28.57%.

Hedge Funds Weigh In On First Mid Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC grew its position in First Mid Bancshares by 804.9% during the 4th quarter. Sterling Capital Management LLC now owns 733 shares of the bank's stock worth $27,000 after acquiring an additional 652 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in First Mid Bancshares during the 1st quarter worth approximately $26,000. Meeder Asset Management Inc. bought a new stake in shares of First Mid Bancshares in the 1st quarter worth approximately $29,000. Federated Hermes Inc. grew its position in shares of First Mid Bancshares by 1,226.4% in the 4th quarter. Federated Hermes Inc. now owns 955 shares of the bank's stock worth $35,000 after buying an additional 883 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of First Mid Bancshares in the 1st quarter worth approximately $42,000. 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.

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