First Mid Bancshares (NASDAQ:FMBH) Price Target Raised to $49.00

Key Points

• Analysts at Piper Sandler have increased their price target for First Mid Bancshares from $47.00 to $49.00, suggesting a potential upside of 25.27% from its previous close.
• First Mid Bancshares has a current average rating of "Moderate Buy", with consensus target prices ranging from $40.00 to $49.00 from various analysts.
• The company experienced a positive earnings report, posting $0.99 earnings per share for the quarter, surpassing estimates of $0.91, with revenues reported at $88.23 million.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) had its price target hoisted by analysts at Piper Sandler from $47.00 to $49.00 in a report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the bank's stock. Piper Sandler's price target indicates a potential upside of 25.27% from the stock's previous close.

FMBH has been the subject of several other research reports. DA Davidson upped their price target on shares of First Mid Bancshares from $39.00 to $42.00 and gave the stock a "neutral" rating in a research report on Friday. Stephens reaffirmed a "positive" rating on shares of First Mid Bancshares in a research report on Friday, May 2nd. Raymond James Financial reaffirmed an "outperform" rating and issued a $40.00 price target (down previously from $43.00) on shares of First Mid Bancshares in a research report on Friday, May 2nd. Finally, Wall Street Zen raised shares of First Mid Bancshares from a "sell" rating to a "hold" rating in a research report on Saturday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $43.33.

First Mid Bancshares Trading Up 0.9%

First Mid Bancshares stock traded up $0.34 during trading hours on Monday, hitting $39.12. The company had a trading volume of 11,346 shares, compared to its average volume of 64,132. The firm has a market cap of $938.33 million, a P/E ratio of 11.11 and a beta of 0.87. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.94. First Mid Bancshares has a 1 year low of $27.58 and a 1 year high of $43.86. The company has a 50-day moving average price of $37.19 and a two-hundred day moving average price of $36.28.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The bank reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.08. The company had revenue of $88.23 million during the quarter, compared to analysts' expectations of $64.42 million. First Mid Bancshares had a net margin of 18.32% and a return on equity of 10.19%. On average, sell-side analysts anticipate that First Mid Bancshares will post 3.61 earnings per share for the current year.

Hedge Funds Weigh In On First Mid Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FMBH. Raymond James Financial Inc. purchased a new position in First Mid Bancshares during the fourth quarter valued at $488,000. American Century Companies Inc. boosted its position in First Mid Bancshares by 11.3% during the fourth quarter. American Century Companies Inc. now owns 451,057 shares of the bank's stock worth $16,608,000 after acquiring an additional 45,788 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in First Mid Bancshares during the fourth quarter worth about $155,000. Vanguard Group Inc. boosted its position in First Mid Bancshares by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 1,309,240 shares of the bank's stock worth $48,206,000 after acquiring an additional 31,231 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in First Mid Bancshares by 27.6% during the fourth quarter. Prudential Financial Inc. now owns 10,172 shares of the bank's stock worth $375,000 after acquiring an additional 2,200 shares during the last quarter. 47.57% of the stock is owned by hedge funds and other institutional investors.

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.

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