First Mid Bancshares (NASDAQ:FMBH) Receives "Buy (B-)" Rating from Weiss Ratings

Key Points

• First Mid Bancshares has received a "Buy (B-)" rating from Weiss Ratings, indicating strong interest from analysts.
• Recent changes in target prices from various analysts have raised First Mid Bancshares' target price to an average of $43.33, with five analysts rating it a Buy.
• The bank reported strong quarterly earnings with an EPS of $0.99, exceeding estimates and demonstrating a robust revenue growth of $88.23 million.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report)'s stock had its "buy (b-)" rating reissued by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently commented on the company. Piper Sandler raised their target price on First Mid Bancshares from $47.00 to $49.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Wall Street Zen upgraded First Mid Bancshares from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, DA Davidson raised their target price on First Mid Bancshares from $39.00 to $42.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.33.

First Mid Bancshares Price Performance

Shares of FMBH stock opened at $36.79 on Wednesday. The stock has a 50 day moving average of $38.83 and a two-hundred day moving average of $36.90. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.39. First Mid Bancshares has a 12 month low of $27.58 and a 12 month high of $43.86. The company has a market capitalization of $882.96 million, a P/E ratio of 10.45 and a beta of 0.89.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.08. First Mid Bancshares had a return on equity of 10.09% and a net margin of 18.32%.The company had revenue of $88.23 million during the quarter, compared to the consensus estimate of $64.42 million. As a group, equities analysts expect that First Mid Bancshares will post 3.61 EPS for the current year.

Insider Activity at First Mid Bancshares

In other news, CEO Clay M. Dean sold 1,553 shares of First Mid Bancshares stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $37.64, for a total value of $58,454.92. Following the completion of the sale, the chief executive officer directly owned 11,229 shares of the company's stock, valued at approximately $422,659.56. This trade represents a 12.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.70% of the company's stock.

Institutional Investors Weigh In On First Mid Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cozad Asset Management Inc. bought a new position in First Mid Bancshares during the second quarter worth about $3,842,000. AQR Capital Management LLC lifted its holdings in shares of First Mid Bancshares by 256.9% in the first quarter. AQR Capital Management LLC now owns 105,648 shares of the bank's stock valued at $3,687,000 after purchasing an additional 76,050 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of First Mid Bancshares by 609.7% in the second quarter. Valeo Financial Advisors LLC now owns 86,292 shares of the bank's stock valued at $3,235,000 after purchasing an additional 74,133 shares in the last quarter. Nuveen LLC bought a new stake in shares of First Mid Bancshares in the first quarter valued at about $1,868,000. Finally, American Century Companies Inc. lifted its holdings in shares of First Mid Bancshares by 10.2% in the first quarter. American Century Companies Inc. now owns 496,888 shares of the bank's stock valued at $17,341,000 after purchasing an additional 45,831 shares in the last quarter. Institutional investors 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.

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