First Mid Bancshares (NASDAQ:FMBH) Reaches New 52-Week High at $38.92

First Mid Bancshares, Inc. (NASDAQ:FMBH)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $38.92 and last traded at $38.81, with a volume of 21530 shares trading hands. The stock had previously closed at $38.16.

Wall Street Analyst Weigh In

Several analysts have weighed in on FMBH shares. Hovde Group started coverage on First Mid Bancshares in a research note on Wednesday, June 26th. They set an “outperform” rating and a $35.00 price target on the stock. Piper Sandler dropped their price target on First Mid Bancshares from $39.00 to $38.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, First Mid Bancshares has an average rating of “Moderate Buy” and a consensus target price of $36.60.

First Mid Bancshares Stock Up 1.9 %

The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.46. The stock has a market cap of $939.27 million, a PE ratio of 12.68 and a beta of 0.90. The business has a 50 day moving average price of $32.94 and a 200 day moving average price of $31.95.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Wednesday, April 24th. The bank reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. The firm had revenue of $79.95 million for the quarter, compared to the consensus estimate of $80.20 million. First Mid Bancshares had a return on equity of 10.56% and a net margin of 17.01%. Equities research analysts expect that First Mid Bancshares, Inc. will post 3.23 EPS for the current fiscal year.

Hedge Funds Weigh In On First Mid Bancshares

A number of large investors have recently bought and sold shares of the business. CWM LLC raised its holdings in First Mid Bancshares by 344.2% in the 2nd quarter. CWM LLC now owns 884 shares of the bank’s stock worth $29,000 after purchasing an additional 685 shares during the period. ICA Group Wealth Management LLC acquired a new position in First Mid Bancshares in the 4th quarter worth about $25,000. EntryPoint Capital LLC acquired a new position in First Mid Bancshares in the 1st quarter worth about $29,000. New York State Common Retirement Fund raised its holdings in First Mid Bancshares by 10.2% in the 4th quarter. New York State Common Retirement Fund now owns 10,865 shares of the bank’s stock worth $377,000 after purchasing an additional 1,007 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in First Mid Bancshares by 48.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,370 shares of the bank’s stock worth $186,000 after purchasing an additional 1,743 shares during the period. Institutional investors and hedge funds own 47.57% of the company’s stock.

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.