Zacks Research Upgrades First Mid Bancshares (NASDAQ:FMBH) to “Strong-Buy”

First Mid Bancshares (NASDAQ:FMBH) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday, Zacks reports.

Several other equities research analysts have also commented on FMBH. Keefe, Bruyette & Woods upped their price target on First Mid Bancshares from $50.00 to $54.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings downgraded First Mid Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 23rd. Piper Sandler lifted their price objective on First Mid Bancshares from $62.50 to $64.00 and gave the company an “overweight” rating in a research note on Monday. Finally, DA Davidson boosted their target price on First Mid Bancshares from $53.00 to $56.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.50.

First Mid Bancshares Price Performance

FMBH stock opened at $50.84 on Monday. The stock’s 50 day moving average price is $50.00 and its 200 day moving average price is $46.17. The firm has a market cap of $1.35 billion, a P/E ratio of 11.71 and a beta of 0.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.95 and a current ratio of 0.95. First Mid Bancshares has a 1 year low of $35.33 and a 1 year high of $53.36.

First Mid Bancshares (NASDAQ:FMBH) last issued its quarterly earnings results on Thursday, October 29th. The bank reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.12. The business had revenue of $107.43 million during the quarter, compared to the consensus estimate of $108.47 million. First Mid Bancshares had a net margin of 20.87% and a return on equity of 11.55%. On average, sell-side analysts expect that First Mid Bancshares will post 4.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Mid Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in FMBH. Integrated Wealth Concepts LLC acquired a new stake in shares of First Mid Bancshares in the 2nd quarter worth about $31,000. USA Financial Formulas bought a new position in shares of First Mid Bancshares during the 3rd quarter valued at about $40,000. Nisa Investment Advisors LLC grew its position in First Mid Bancshares by 36.0% in the third quarter. Nisa Investment Advisors LLC now owns 1,170 shares of the bank’s stock worth $57,000 after buying an additional 310 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of First Mid Bancshares in the 2nd quarter worth $59,000. Finally, Quantbot Technologies LP purchased a new position in First Mid Bancshares in the 2nd quarter worth about $62,000. 47.57% of the stock is owned by institutional investors and hedge funds.

About First Mid Bancshares

First Mid Bancshares, Inc is a financial services holding company headquartered in Mattoon, Illinois. Through its principal subsidiary, First Mid Bank & Trust, N.A., the company provides banking and related financial services to individuals, families, farmers, businesses and governmental entities.

First Mid Bank & Trust offers deposit accounts, consumer and commercial lending, agricultural loans, mortgage services, treasury and cash-management services, online and mobile banking, and other traditional banking products.