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

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $38.86 and traded as low as $37.34. First Mid Bancshares shares last traded at $39.27, with a volume of 62,716 shares traded.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FMBH shares. DA Davidson lowered First Mid Bancshares from a “buy” rating to a “neutral” rating and boosted their target price for the company from $44.00 to $47.00 in a research note on Tuesday, November 12th. Stephens restated 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. Keefe, Bruyette & Woods upped their price objective on First Mid Bancshares from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler raised their price target on First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $43.40.

First Mid Bancshares Trading Up 2.4 %

The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41. The stock’s fifty day moving average price is $38.05 and its two-hundred day moving average price is $38.86. The company has a market capitalization of $938.95 million, a PE ratio of 11.94 and a beta of 0.93.

First Mid Bancshares (NASDAQ:FMBH) last announced its earnings results on Thursday, January 23rd. The bank reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. First Mid Bancshares had a net margin of 17.39% and a return on equity of 10.10%. Sell-side analysts anticipate that First Mid Bancshares, Inc. will post 3.58 earnings per share for the current year.

First Mid Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Thursday, February 13th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Thursday, February 13th. First Mid Bancshares’s dividend payout ratio (DPR) is currently 29.18%.

Insider Activity at First Mid Bancshares

In related news, Director James Edwin Zimmer bought 1,000 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was acquired at an average price of $39.87 per share, with a total value of $39,870.00. Following the transaction, the director now owns 4,050 shares in the company, valued at approximately $161,473.50. This trade represents a 32.79 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 7.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. lifted its stake in shares of First Mid Bancshares by 11.3% during the 4th quarter. American Century Companies Inc. now owns 451,057 shares of the bank’s stock valued at $16,608,000 after buying an additional 45,788 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of First Mid Bancshares by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 1,309,240 shares of the bank’s stock worth $48,206,000 after buying an additional 31,231 shares during the last quarter. Wellington Management Group LLP grew its holdings in First Mid Bancshares by 7.3% during the 3rd quarter. Wellington Management Group LLP now owns 387,926 shares of the bank’s stock valued at $15,094,000 after purchasing an additional 26,560 shares during the last quarter. Barclays PLC grew its holdings in First Mid Bancshares by 327.6% during the 3rd quarter. Barclays PLC now owns 34,347 shares of the bank’s stock valued at $1,337,000 after purchasing an additional 26,315 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in First Mid Bancshares by 24.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 133,132 shares of the bank’s stock valued at $5,180,000 after buying an additional 25,855 shares during the period. 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.