First Mid Bancshares (NASDAQ:FMBH) Given New $43.00 Price Target at Hovde Group

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) had its target price cut by investment analysts at Hovde Group from $48.00 to $43.00 in a note issued to investors on Friday, MarketBeat.com reports. The brokerage currently has an "outperform" rating on the bank's stock. Hovde Group's price objective points to a potential upside of 21.64% from the stock's current price.

FMBH has been the subject of several other research reports. Stephens restated an "equal weight" rating and set a $43.00 price target on shares of First Mid Bancshares in a research report on Friday, January 24th. Keefe, Bruyette & Woods lifted their target price on shares of First Mid Bancshares from $42.00 to $45.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $45.00.

First Mid Bancshares Stock Performance

FMBH traded down $0.14 during trading on Friday, hitting $35.35. 60,122 shares of the company traded hands, compared to its average volume of 56,446. The firm has a market cap of $847.76 million, a P/E ratio of 10.74 and a beta of 0.88. The stock's fifty day moving average is $37.24 and its 200 day moving average is $38.69. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41. First Mid Bancshares has a one year low of $28.86 and a one year high of $43.86.

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First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.05. First Mid Bancshares had a net margin of 17.39% and a return on equity of 10.10%. As a group, equities analysts predict that First Mid Bancshares will post 3.61 EPS for the current fiscal year.

Insider Activity

In other news, Director James Edwin Zimmer acquired 1,000 shares of the business's stock in a transaction dated Thursday, December 19th. The stock was bought at an average cost of $39.87 per share, for a total transaction of $39,870.00. Following the completion of the transaction, the director now owns 4,050 shares of the company's stock, valued at $161,473.50. The trade was a 32.79 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Mid Bancshares

Several hedge funds have recently bought and sold shares of FMBH. Sterling Capital Management LLC lifted its position in First Mid Bancshares by 804.9% during the fourth quarter. Sterling Capital Management LLC now owns 733 shares of the bank's stock valued at $27,000 after purchasing an additional 652 shares during the last quarter. Federated Hermes Inc. lifted its position in First Mid Bancshares by 1,226.4% during the fourth quarter. Federated Hermes Inc. now owns 955 shares of the bank's stock valued at $35,000 after purchasing an additional 883 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in First Mid Bancshares during the fourth quarter valued at approximately $65,000. Tower Research Capital LLC TRC raised its stake in shares of First Mid Bancshares by 16.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,959 shares of the bank's stock worth $72,000 after acquiring an additional 276 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new position in shares of First Mid Bancshares during the fourth quarter worth approximately $76,000. 47.57% of the stock is currently owned by institutional investors.

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.