First Mid Bancshares (NASDAQ:FMBH) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

First Mid Bancshares (NASDAQ:FMBH) had its price target upped by equities researchers at Keefe, Bruyette & Woods from $50.00 to $54.00 in a report released on Monday,Benzinga reports. The firm presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 5.19% from the company’s current price.

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

First Mid Bancshares Stock Up 0.7%

Shares of NASDAQ FMBH traded up $0.33 during mid-day trading on Monday, reaching $51.33. The company had a trading volume of 33,394 shares, compared to its average volume of 125,800. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.03. First Mid Bancshares has a 52-week low of $34.15 and a 52-week high of $51.65. The stock has a market cap of $1.37 billion, a P/E ratio of 12.75 and a beta of 0.79. The firm has a 50 day simple moving average of $46.52 and a two-hundred day simple moving average of $43.60.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $1.26 EPS for the quarter, topping the consensus estimate of $1.05 by $0.21. The company had revenue of $109.32 million for the quarter, compared to analyst estimates of $107.42 million. First Mid Bancshares had a return on equity of 11.17% and a net margin of 19.76%. Sell-side analysts predict that First Mid Bancshares will post 4.58 earnings per share for the current year.

Institutional Investors Weigh In On First Mid Bancshares

Several large investors have recently made changes to their positions in FMBH. Clearstead Advisors LLC grew its stake in shares of First Mid Bancshares by 147.2% in the fourth quarter. Clearstead Advisors LLC now owns 848 shares of the bank’s stock valued at $33,000 after buying an additional 505 shares in the last quarter. Strs Ohio bought a new stake in shares of First Mid Bancshares in the first quarter worth $42,000. Aquatic Capital Management LLC raised its stake in shares of First Mid Bancshares by 272.5% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,438 shares of the bank’s stock valued at $54,000 after purchasing an additional 1,052 shares in the last quarter. Federated Hermes Inc. raised its stake in First Mid Bancshares by 32.0% during the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank’s stock valued at $64,000 after buying an additional 415 shares in the last quarter. Finally, Quantbot Technologies LP lifted its stake in First Mid Bancshares by 113.0% during the second quarter. Quantbot Technologies LP now owns 2,394 shares of the bank’s stock worth $90,000 after purchasing an additional 1,270 shares during the last quarter. Institutional investors and hedge funds own 47.57% of the company’s stock.

First Mid Bancshares Company Profile

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.