Stephens Issues Positive Forecast for First Mid Bancshares (NASDAQ:FMBH) Stock Price

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) had its price objective lifted by equities researchers at Stephens from $40.00 to $43.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the bank's stock. Stephens' target price indicates a potential upside of 13.94% from the stock's current price.

Several other analysts have also recently weighed in on FMBH. Keefe, Bruyette & Woods cut First Mid Bancshares from an "outperform" rating to a "market perform" rating and set a $42.00 price target on the stock. in a report on Wednesday, October 2nd. Piper Sandler raised their price target on shares of First Mid Bancshares from $46.00 to $47.00 and gave the company an "overweight" rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

First Mid Bancshares Stock Performance

FMBH traded down $0.41 during trading on Friday, hitting $37.74. The stock had a trading volume of 30,040 shares, compared to its average volume of 57,202. First Mid Bancshares has a one year low of $28.04 and a one year high of $41.02. The firm has a market cap of $902.36 million, a price-to-earnings ratio of 12.11 and a beta of 0.89. The company has a 50 day moving average price of $38.88 and a 200-day moving average price of $35.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.91.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last issued its earnings results on Thursday, August 1st. The bank reported $0.84 EPS for the quarter, topping the consensus estimate of $0.79 by $0.05. The firm had revenue of $79.19 million during the quarter, compared to the consensus estimate of $78.25 million. First Mid Bancshares had a return on equity of 10.43% and a net margin of 16.75%. As a group, research analysts predict that First Mid Bancshares will post 3.47 EPS for the current year.

Institutional Investors Weigh In On First Mid Bancshares

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in First Mid Bancshares by 7.1% during the first quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank's stock valued at $42,230,000 after purchasing an additional 85,434 shares during the period. Dimensional Fund Advisors LP raised its position in shares of First Mid Bancshares by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank's stock valued at $25,584,000 after purchasing an additional 36,769 shares during the period. American Century Companies Inc. lifted its stake in shares of First Mid Bancshares by 23.7% during the 2nd quarter. American Century Companies Inc. now owns 340,343 shares of the bank's stock valued at $11,190,000 after buying an additional 65,314 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in First Mid Bancshares by 7.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 118,048 shares of the bank's stock worth $3,881,000 after buying an additional 7,849 shares during the period. Finally, Creative Planning grew its stake in First Mid Bancshares by 2.1% in the 2nd quarter. Creative Planning now owns 106,397 shares of the bank's stock valued at $3,498,000 after buying an additional 2,186 shares in the last quarter. Hedge funds and other 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.

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