First Mid Bancshares (NASDAQ:FMBH) Price Target Raised to $42.00

Key Points

• DA Davidson has raised the price target for First Mid Bancshares from $39.00 to $42.00, suggesting an upside of 8.32% from the current stock price.
• Several research analysts hold mixed views on the stock, with one sell rating, two hold ratings, and four buy ratings, resulting in an average rating of "Hold" with a consensus price target of $43.00.
• The bank's latest earnings report showed earnings per share of $0.96, exceeding analysts' expectations, along with significant revenue growth compared to estimates.
• Institutional investors currently own 47.57% of First Mid Bancshares' shares, reflecting interest and investment growth in the stock from various hedge funds.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) had its target price upped by DA Davidson from $39.00 to $42.00 in a report released on Friday,Benzinga reports. The firm currently has a "neutral" rating on the bank's stock. DA Davidson's price target indicates a potential upside of 8.32% from the stock's current price.

Several other equities research analysts have also recently weighed in on the stock. Wall Street Zen cut shares of First Mid Bancshares from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Raymond James Financial reiterated an "outperform" rating and set a $40.00 price objective (down from $43.00) on shares of First Mid Bancshares in a report on Friday, May 2nd. Finally, Stephens reissued a "positive" rating on shares of First Mid Bancshares in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, First Mid Bancshares currently has an average rating of "Hold" and a consensus price target of $43.00.

First Mid Bancshares Stock Performance

Shares of FMBH stock traded down $0.15 on Friday, reaching $38.78. The stock had a trading volume of 30,697 shares, compared to its average volume of 64,303. The firm's 50-day moving average is $37.15 and its two-hundred day moving average is $36.25. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $930.17 million, a price-to-earnings ratio of 11.55 and a beta of 0.87. First Mid Bancshares has a 12 month low of $27.58 and a 12 month high of $43.86.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The bank reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.02. The company 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%. On average, research analysts expect that First Mid Bancshares will post 3.61 EPS for the current fiscal year.

Institutional Trading of First Mid Bancshares

Several hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its position in shares of First Mid Bancshares by 16.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,959 shares of the bank's stock valued at $72,000 after purchasing an additional 276 shares during the period. Federated Hermes Inc. raised its position in shares of First Mid Bancshares by 35.6% in the first quarter. Federated Hermes Inc. now owns 1,295 shares of the bank's stock valued at $45,000 after purchasing an additional 340 shares during the period. State of Wyoming raised its position in shares of First Mid Bancshares by 33.4% in the first quarter. State of Wyoming now owns 1,410 shares of the bank's stock valued at $49,000 after purchasing an additional 353 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of First Mid Bancshares by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,016 shares of the bank's stock valued at $479,000 after purchasing an additional 458 shares during the period. Finally, Two Sigma Advisers LP raised its position in shares of First Mid Bancshares by 6.6% in the fourth quarter. Two Sigma Advisers LP now owns 8,100 shares of the bank's stock valued at $298,000 after purchasing an additional 500 shares during the period. Institutional investors 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.

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