Wall Street Zen Upgrades First Mid Bancshares (NASDAQ:FMBH) to Hold

Key Points

• Wall Street Zen has upgraded First Mid Bancshares from a "sell" rating to a "hold" rating, reflecting a revised outlook on the stock.
• DA Davidson raised the price target for First Mid Bancshares shares from $39.00 to $42.00, while Raymond James lowered their price target to $40.00.
• First Mid Bancshares reported a quarterly earnings per share (EPS) of $0.96, exceeding expectations of $0.94, and achieved a revenue of $85.21 million.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

FMBH has been the topic of a number of 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 note on Friday. Raymond James Financial reiterated an "outperform" rating and issued a $40.00 price target (down previously from $43.00) on shares of First Mid Bancshares in a research note on Friday, May 2nd. Finally, Stephens reiterated a "positive" rating on shares of First Mid Bancshares in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.00.

First Mid Bancshares Stock Performance

Shares of FMBH stock opened at $38.78 on Friday. First Mid Bancshares has a 12 month low of $27.58 and a 12 month high of $43.86. The stock has a market cap of $930.33 million, a PE ratio of 11.02 and a beta of 0.87. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.25. The company's fifty day moving average price is $37.19 and its 200-day moving average price is $36.27.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last announced its earnings results on Wednesday, April 30th. The bank reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.02. The firm had revenue of $85.21 million for the quarter, compared to analysts' expectations of $58.29 million. First Mid Bancshares had a net margin of 18.32% and a return on equity of 10.19%. On average, equities analysts expect that First Mid Bancshares will post 3.61 EPS for the current fiscal year.

Hedge Funds Weigh In On First Mid Bancshares

Hedge funds have recently bought and sold shares of the business. CWM LLC grew its position in First Mid Bancshares by 30.5% during the second quarter. CWM LLC now owns 4,948 shares of the bank's stock valued at $186,000 after buying an additional 1,157 shares during the period. Armstrong Fleming & Moore Inc bought a new position in shares of First Mid Bancshares during the 2nd quarter valued at approximately $935,000. Strs Ohio purchased a new stake in First Mid Bancshares in the 1st quarter worth approximately $42,000. Jane Street Group LLC raised its stake in First Mid Bancshares by 494.1% during the 1st quarter. Jane Street Group LLC now owns 32,755 shares of the bank's stock worth $1,143,000 after acquiring an additional 27,242 shares during the period. Finally, Empowered Funds LLC raised its stake in First Mid Bancshares by 31.5% during the 1st quarter. Empowered Funds LLC now owns 72,134 shares of the bank's stock worth $2,517,000 after acquiring an additional 17,266 shares during the period. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.