First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives $43.33 Average Price Target from Brokerages

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $43.3333.

A number of equities research analysts have issued reports on the stock. Weiss Ratings downgraded shares of First Mid Bancshares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday. Piper Sandler upped their target price on First Mid Bancshares from $47.00 to $49.00 and gave the company an “overweight” rating in a report on Monday, July 28th. DA Davidson upped their target price on First Mid Bancshares from $39.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Finally, Wall Street Zen upgraded First Mid Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th.

Insider Buying and Selling at First Mid Bancshares

In other First Mid Bancshares news, CEO Clay M. Dean sold 1,553 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $37.64, for a total transaction of $58,454.92. Following the completion of the transaction, the chief executive officer directly owned 11,229 shares of the company’s stock, valued at approximately $422,659.56. This represents a 12.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in First Mid Bancshares by 0.4% during the second quarter. Geode Capital Management LLC now owns 557,725 shares of the bank’s stock worth $20,912,000 after purchasing an additional 2,021 shares during the period. American Century Companies Inc. boosted its holdings in First Mid Bancshares by 7.1% in the 2nd quarter. American Century Companies Inc. now owns 532,170 shares of the bank’s stock worth $19,951,000 after buying an additional 35,282 shares during the period. GW&K Investment Management LLC boosted its holdings in First Mid Bancshares by 2.2% in the 1st quarter. GW&K Investment Management LLC now owns 460,197 shares of the bank’s stock worth $16,061,000 after buying an additional 9,695 shares during the period. JPMorgan Chase & Co. boosted its holdings in First Mid Bancshares by 3.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 245,565 shares of the bank’s stock worth $9,206,000 after buying an additional 8,169 shares during the period. Finally, Bridgeway Capital Management LLC boosted its holdings in First Mid Bancshares by 5.7% in the 2nd quarter. Bridgeway Capital Management LLC now owns 130,630 shares of the bank’s stock worth $4,897,000 after buying an additional 6,996 shares during the period. Institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Stock Performance

NASDAQ:FMBH opened at $37.39 on Friday. The company has a fifty day moving average of $38.45 and a 200-day moving average of $37.16. The firm has a market capitalization of $897.36 million, a P/E ratio of 10.62 and a beta of 0.89. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.39. First Mid Bancshares has a twelve month low of $27.58 and a twelve month high of $43.86.

First Mid Bancshares (NASDAQ:FMBH) last posted its quarterly earnings results on Thursday, July 24th. The bank reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.08. First Mid Bancshares had a net margin of 18.32% and a return on equity of 10.09%. The firm had revenue of $88.23 million during the quarter, compared to the consensus estimate of $64.42 million. As a group, sell-side analysts anticipate that First Mid Bancshares will post 3.61 EPS for the current year.

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.