First Mid Bancshares (NASDAQ:FMBH) Price Target Raised to $43.00 at Stephens

First Mid Bancshares (NASDAQ:FMBH) had its price target hoisted by Stephens from $40.00 to $43.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Stephens’ price target points to a potential upside of 13.73% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Keefe, Bruyette & Woods downgraded First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price target for the company. in a research report on Wednesday, October 2nd. Piper Sandler upped 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, First Mid Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

First Mid Bancshares Price Performance

NASDAQ FMBH opened at $37.81 on Friday. The business has a 50 day simple moving average of $38.83 and a 200 day simple moving average of $35.53. First Mid Bancshares has a 52-week low of $28.04 and a 52-week high of $41.02. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $904.04 million, a price-to-earnings ratio of 12.12 and a beta of 0.89.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings results on Thursday, August 1st. The bank reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.05. First Mid Bancshares had a return on equity of 10.43% and a net margin of 16.75%. The firm had revenue of $79.19 million during the quarter, compared to the consensus estimate of $78.25 million. Analysts anticipate that First Mid Bancshares will post 3.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Mid Bancshares

Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its holdings in shares of First Mid Bancshares by 29.3% in the 1st quarter. Russell Investments Group Ltd. now owns 67,127 shares of the bank’s stock valued at $2,194,000 after buying an additional 15,227 shares during the last quarter. Vanguard Group Inc. lifted its holdings in First Mid Bancshares by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock valued at $42,230,000 after purchasing an additional 85,434 shares during the last quarter. SG Americas Securities LLC lifted its holdings in First Mid Bancshares by 44.6% during the 3rd quarter. SG Americas Securities LLC now owns 12,006 shares of the bank’s stock valued at $467,000 after purchasing an additional 3,703 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in First Mid Bancshares by 2.2% during the 2nd quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock valued at $998,000 after purchasing an additional 650 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in First Mid Bancshares by 106.4% during the 2nd quarter. AQR Capital Management LLC now owns 31,333 shares of the bank’s stock valued at $1,030,000 after purchasing an additional 16,150 shares during the last quarter. Institutional investors and hedge funds 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.