Brokerages Set First Mid Bancshares, Inc. (NASDAQ:FMBH) Target Price at $36.60

First Mid Bancshares, Inc. (NASDAQ:FMBH) has been assigned an average rating of “Buy” from the five brokerages that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $36.60.

FMBH has been the subject of a number of research analyst reports. Piper Sandler decreased their target price on First Mid Bancshares from $39.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Hovde Group initiated coverage on shares of First Mid Bancshares in a report on Wednesday, June 26th. They issued an “outperform” rating and a $35.00 target price for the company.

Institutional Trading of First Mid Bancshares

Institutional investors have recently bought and sold shares of the stock. CWM LLC raised its stake in First Mid Bancshares by 344.2% in the 2nd quarter. CWM LLC now owns 884 shares of the bank’s stock worth $29,000 after acquiring an additional 685 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of First Mid Bancshares in the first quarter worth about $208,000. EntryPoint Capital LLC acquired a new stake in shares of First Mid Bancshares during the first quarter worth about $29,000. Vanguard Group Inc. boosted its position in First Mid Bancshares by 7.1% in the first quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock valued at $42,230,000 after buying an additional 85,434 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in First Mid Bancshares by 29.3% in the first quarter. Russell Investments Group Ltd. now owns 67,127 shares of the bank’s stock valued at $2,194,000 after buying an additional 15,227 shares during the last quarter. 47.57% of the stock is currently owned by institutional investors and hedge funds.

First Mid Bancshares Trading Up 1.9 %

FMBH stock opened at $39.30 on Friday. The firm has a fifty day moving average price of $32.94 and a 200 day moving average price of $31.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $939.27 million, a PE ratio of 12.68 and a beta of 0.90. First Mid Bancshares has a fifty-two week low of $25.73 and a fifty-two week high of $40.00.

First Mid Bancshares (NASDAQ:FMBH) last announced its earnings results on Wednesday, April 24th. The bank reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.07. First Mid Bancshares had a net margin of 17.01% and a return on equity of 10.56%. The business had revenue of $79.95 million for the quarter, compared to the consensus estimate of $80.20 million. Sell-side analysts anticipate that First Mid Bancshares will post 3.23 earnings per share for the current fiscal year.

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.