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

First Mid Bancshares, Inc. (NASDAQ:FMBH - Get Free Report)'s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FMBH. Stephens reaffirmed a "positive" rating on shares of First Mid Bancshares in a research note on Friday, May 2nd. Hovde Group decreased their price objective on shares of 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 reaffirmed an "outperform" rating and issued a $40.00 target price (down from $43.00) on shares of First Mid Bancshares in a report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $43.83.

First Mid Bancshares Trading Up 0.3%

The firm has a market cap of $848.97 million, a PE ratio of 10.53 and a beta of 0.87. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50-day moving average price of $35.17 and a two-hundred day moving average price of $36.26.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last posted its earnings results on Wednesday, April 30th. The bank reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.02. The firm had revenue of $85.21 million during the quarter, compared to the consensus estimate of $58.29 million. First Mid Bancshares had a net margin of 17.75% and a return on equity of 9.90%. Analysts forecast that First Mid Bancshares, Inc. will post 3.61 EPS for the current year.

First Mid Bancshares Announces Dividend

The business also recently disclosed 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 of this dividend was Thursday, May 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.71%. First Mid Bancshares's dividend payout ratio is currently 28.57%.

Institutional Investors Weigh In On First Mid Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of FMBH. Sterling Capital Management LLC raised its holdings in shares of First Mid Bancshares by 804.9% in the fourth 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. purchased a new stake in First Mid Bancshares during the 1st quarter worth about $26,000. Meeder Asset Management Inc. purchased a new stake in First Mid Bancshares during the 1st quarter worth about $29,000. Federated Hermes Inc. raised its stake 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 purchasing an additional 883 shares during the last quarter. Finally, Strs Ohio purchased a new position in First Mid Bancshares in the 1st quarter valued at about $42,000. 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.