Keefe, Bruyette & Woods Issues Positive Forecast for First Mid Bancshares (NASDAQ:FMBH) Stock Price

Key Points

• Keefe, Bruyette & Woods raised First Mid Bancshares’ price target to $54 from $50 while maintaining a “market perform” rating, implying roughly 5.19% upside. Analysts overall assign the stock a “Moderate Buy” consensus with an average target of $52.75.
• First Mid Bancshares shares rose 0.7% to $51.33, near their 12-month high of $51.65. The bank recently reported quarterly earnings of $1.26 per share, beating the $1.05 consensus estimate, while revenue also exceeded expectations.
• Institutional ownership stands at 47.57%, with several major investors—including AQR Capital Management, Tudor Investment and Goldman Sachs—recently increasing their positions.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) had its target price lifted by research analysts at Keefe, Bruyette & Woods from $50.00 to $54.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 5.19% from the stock's current price.

Several other equities research analysts also recently weighed in on FMBH. Weiss Ratings reaffirmed a "buy (b)" rating on shares of First Mid Bancshares in a research report on Friday, May 1st. Raymond James Financial restated an "outperform" rating and issued a $48.00 target price on shares of First Mid Bancshares in a research note on Friday, May 1st. DA Davidson set a $54.00 price target on First Mid Bancshares and gave the company a "neutral" rating in a research report on Monday. Finally, Piper Sandler restated an "overweight" rating and issued a $55.00 price objective (up from $52.00) on shares of First Mid Bancshares in a research report on Friday, May 1st. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.75.

First Mid Bancshares Stock Up 0.7%

First Mid Bancshares stock traded up $0.33 during mid-day trading on Monday, reaching $51.33. 33,394 shares of the company were exchanged, compared to its average volume of 125,800. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $1.37 billion, a P/E ratio of 12.75 and a beta of 0.79. The business has a fifty day moving average of $46.52 and a 200 day moving average of $43.60. First Mid Bancshares has a 12-month low of $34.15 and a 12-month high of $51.65.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last announced its earnings results on Thursday, July 23rd. The bank reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.21. First Mid Bancshares had a return on equity of 11.17% and a net margin of 19.76%.The firm had revenue of $109.32 million for the quarter, compared to the consensus estimate of $107.42 million. Research analysts anticipate that First Mid Bancshares will post 4.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Mid Bancshares

A number of institutional investors have recently made changes to their positions in FMBH. AQR Capital Management LLC lifted its stake in First Mid Bancshares by 256.9% during the first quarter. AQR Capital Management LLC now owns 105,648 shares of the bank's stock worth $3,687,000 after purchasing an additional 76,050 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in First Mid Bancshares by 63.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 161,024 shares of the bank's stock worth $6,100,000 after acquiring an additional 62,404 shares in the last quarter. Tudor Investment Corp ET AL boosted its holdings in First Mid Bancshares by 421.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 71,260 shares of the bank's stock valued at $2,699,000 after acquiring an additional 57,600 shares during the period. Goldman Sachs Group Inc. boosted its holdings in First Mid Bancshares by 43.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 188,473 shares of the bank's stock valued at $7,350,000 after acquiring an additional 57,320 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in First Mid Bancshares by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,101,095 shares of the bank's stock valued at $45,354,000 after acquiring an additional 56,997 shares in the last quarter. 47.57% of the stock is currently owned by institutional investors and hedge funds.

About First Mid Bancshares

First Mid Bancshares, Inc NASDAQ: FMBH, headquartered in Mattoon, Illinois, is a financial services holding company that offers a comprehensive suite of banking products and services through its main subsidiary, First Mid Bank & Trust. The company's primary business activities include commercial and retail banking, mortgage origination and servicing, wealth management and trust administration, as well as treasury and cash management solutions.

Through its branch network, First Mid provides consumer deposit products such as checking and savings accounts, certificates of deposit and online banking services.

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