DA Davidson Forecasts Strong Price Appreciation for First Mid Bancshares (NASDAQ:FMBH) Stock

Key Points

• DA Davidson raised its price target for First Mid Bancshares from $53 to $56 while maintaining a “neutral” rating, implying approximately 11.18% upside from the prior close.
• First Mid reported quarterly earnings of $1.26 per share, exceeding the $1.14 consensus estimate, although revenue of $107.43 million fell modestly short of forecasts.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average target price of $55.12; institutional investors own approximately 47.57% of the stock.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) had its price target hoisted by equities research analysts at DA Davidson from $53.00 to $56.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a "neutral" rating on the bank's stock. DA Davidson's target price points to a potential upside of 11.18% from the company's previous close.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings cut First Mid Bancshares from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, October 23rd. Piper Sandler boosted their price target on First Mid Bancshares from $55.00 to $62.50 and gave the stock an "overweight" rating in a research report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of First Mid Bancshares from $50.00 to $54.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.12.

First Mid Bancshares Stock Performance

FMBH stock traded down $0.76 during trading on Friday, reaching $50.37. 62,283 shares of the stock were exchanged, compared to its average volume of 128,664. First Mid Bancshares has a twelve month low of $34.15 and a twelve month high of $53.36. The company has a market capitalization of $1.34 billion, a P/E ratio of 12.49 and a beta of 0.80. The stock has a 50 day simple moving average of $49.96 and a 200-day simple moving average of $46.00. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.03.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The bank reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.12. First Mid Bancshares had a net margin of 19.76% and a return on equity of 10.86%. The firm had revenue of $107.43 million during the quarter, compared to analysts' expectations of $108.47 million. As a group, sell-side analysts anticipate that First Mid Bancshares will post 4.74 earnings per share for the current year.

Institutional Investors Weigh In On First Mid Bancshares

A number of large investors have recently modified their holdings of FMBH. BlackRock Inc. bought a new stake in First Mid Bancshares during the 2nd quarter worth approximately $114,252,000. Dimensional Fund Advisors LP grew its position in shares of First Mid Bancshares by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,101,095 shares of the bank's stock worth $45,354,000 after buying an additional 56,997 shares during the period. Wellington Management Group LLP raised its holdings in shares of First Mid Bancshares by 13.7% during the second quarter. Wellington Management Group LLP now owns 503,186 shares of the bank's stock valued at $24,198,000 after purchasing an additional 60,733 shares during the period. The Manufacturers Life Insurance Company acquired a new position in First Mid Bancshares during the 2nd quarter worth approximately $9,906,000. Finally, Rhino Investment Partners Inc lifted its holdings in shares of First Mid Bancshares by 23.1% in the 1st quarter. Rhino Investment Partners Inc now owns 157,581 shares of the bank's stock worth $6,491,000 after purchasing an additional 29,579 shares in the last quarter. Institutional investors and hedge funds own 47.57% of the company's stock.

Trending Headlines about First Mid Bancshares

Here are the key news stories impacting First Mid Bancshares this week:

• Positive Sentiment: Q3 earnings exceeded expectations: First Mid reported adjusted earnings of $1.26 per share, topping the $1.14–$1.15 analyst consensus and rising from $0.97 a year earlier. The company generated $107.43 million in revenue, posted a 19.76% net margin and delivered a 10.86% return on equity. First Mid Bancshares Announces Third Quarter 2026 Results
• Positive Sentiment: Expansion through Evergreen acquisition: First Mid agreed to acquire Evergreen Bancshares, parent of American Bank of Freedom, in a stock-and-cash transaction. The deal is intended to strengthen First Mid’s presence in St. Louis and along the I-70 corridor, expand its Illinois franchise and establish a full-service banking presence in the Indianapolis market. First Mid Bancshares Announces Acquisition of Evergreen Bancshares
• Positive Sentiment: Dividend maintained: The company declared a quarterly dividend of $0.26 per share, equivalent to $1.04 annually and a yield of approximately 2%. The dividend is payable December 1 to shareholders of record November 16. First Mid Bancshares Dividend Announcement
• Neutral Sentiment: Additional growth initiative: First Mid’s agricultural services business agreed to acquire Winship Farm Management, indicating continued expansion of its fee-based and agricultural operations, although financial terms and the expected earnings impact were not provided. First Mid Bancshares Ag Services Acquisition
• Negative Sentiment: Revenue modestly missed forecasts: Quarterly revenue of $107.43 million was below the $108.47 million consensus estimate. Investors may also weigh the integration, execution and potential share dilution risks associated with the Evergreen transaction.

About First Mid Bancshares

First Mid Bancshares, Inc is a financial services holding company headquartered in Mattoon, Illinois. Through its principal subsidiary, First Mid Bank & Trust, N.A., the company provides banking and related financial services to individuals, families, farmers, businesses and governmental entities.

First Mid Bank & Trust offers deposit accounts, consumer and commercial lending, agricultural loans, mortgage services, treasury and cash-management services, online and mobile banking, and other traditional banking products.

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