First Mid Bancshares (NASDAQ:FMBH) Downgraded to Neutral Rating by DA Davidson

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) was downgraded by investment analysts at DA Davidson from a "buy" rating to a "neutral" rating in a report issued on Tuesday, MarketBeat.com reports. They currently have a $47.00 target price on the bank's stock, up from their prior target price of $44.00. DA Davidson's target price would indicate a potential upside of 9.97% from the company's current price.

Several other equities research analysts have also commented on the company. Stephens boosted their price target on First Mid Bancshares from $40.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods cut First Mid Bancshares from an "outperform" rating to a "market perform" rating and set a $42.00 price objective on the stock. in a report on Wednesday, October 2nd. Finally, Piper Sandler upped their price objective on First Mid Bancshares from $46.00 to $47.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $42.00.

First Mid Bancshares Stock Performance

Shares of FMBH traded down $0.46 during mid-day trading on Tuesday, hitting $42.74. 25,193 shares of the company's stock were exchanged, compared to its average volume of 57,920. First Mid Bancshares has a fifty-two week low of $28.86 and a fifty-two week high of $43.30. The business's 50 day moving average is $38.91 and its two-hundred day moving average is $36.02. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $1.02 billion, a P/E ratio of 13.29 and a beta of 0.89.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in First Mid Bancshares during the 3rd quarter valued at $869,000. Thrivent Financial for Lutherans boosted its stake in First Mid Bancshares by 17.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 43,252 shares of the bank's stock valued at $1,683,000 after buying an additional 6,353 shares in the last quarter. Empowered Funds LLC lifted its holdings in First Mid Bancshares by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 60,114 shares of the bank's stock valued at $2,339,000 after purchasing an additional 2,948 shares during the last quarter. CarsonAllaria Wealth Management Ltd. increased its holdings in First Mid Bancshares by 29.9% during the 3rd quarter. CarsonAllaria Wealth Management Ltd. now owns 9,927 shares of the bank's stock valued at $386,000 after purchasing an additional 2,285 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in First Mid Bancshares by 44.6% during the 3rd quarter. SG Americas Securities LLC now owns 12,006 shares of the bank's stock worth $467,000 after buying an additional 3,703 shares in the last quarter. Institutional investors own 47.57% of the company's stock.

About First Mid Bancshares

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.