Piper Sandler Trims First Mid Bancshares (NASDAQ:FMBH) Target Price to $38.00

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) had its target price cut by analysts at Piper Sandler from $39.00 to $38.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an "overweight" rating on the bank's stock. Piper Sandler's target price would indicate a potential upside of 20.83% from the stock's previous close.

Several other research firms have also commented on FMBH. Raymond James upped their target price on First Mid Bancshares from $34.00 to $38.00 and gave the company an "outperform" rating in a report on Monday, January 29th. Stephens lowered their price objective on First Mid Bancshares from $40.00 to $38.00 and set an "overweight" rating for the company in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, First Mid Bancshares presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

First Mid Bancshares Stock Performance

First Mid Bancshares stock traded down $0.06 during mid-day trading on Monday, reaching $31.45. The company's stock had a trading volume of 39,740 shares, compared to its average volume of 54,388. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. First Mid Bancshares has a twelve month low of $21.77 and a twelve month high of $35.83. The business has a 50 day moving average price of $30.75 and a 200-day moving average price of $31.18. The firm has a market cap of $751.34 million, a price-to-earnings ratio of 10.15 and a beta of 0.87.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.94 EPS for the quarter, beating the consensus estimate of $0.83 by $0.11. The business had revenue of $79.23 million during the quarter, compared to analyst estimates of $77.10 million. First Mid Bancshares had a net margin of 17.01% and a return on equity of 10.81%. Sell-side analysts predict that First Mid Bancshares will post 3.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC bought a new stake in shares of First Mid Bancshares during the fourth quarter valued at about $25,000. Wellington Management Group LLP raised its position in shares of First Mid Bancshares by 5.9% during the 4th quarter. Wellington Management Group LLP now owns 294,666 shares of the bank's stock worth $10,213,000 after buying an additional 16,388 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of First Mid Bancshares by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 678,953 shares of the bank's stock worth $23,533,000 after acquiring an additional 34,401 shares during the period. Jump Financial LLC bought a new position in shares of First Mid Bancshares in the fourth quarter valued at approximately $252,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of First Mid Bancshares by 21.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 176,704 shares of the bank's stock valued at $6,125,000 after acquiring an additional 31,164 shares during the period. Institutional investors and hedge funds 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.