First Mid Bancshares (NASDAQ:FMBH) Stock Price Expected to Rise, Piper Sandler Analyst Says

First Mid Bancshares (NASDAQ:FMBH) had its price target hoisted by research analysts at Piper Sandler from $46.00 to $47.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Piper Sandler’s price objective points to a potential upside of 24.31% from the stock’s previous close.

Separately, Keefe, Bruyette & Woods lowered First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price objective for the company. in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, First Mid Bancshares has a consensus rating of “Moderate Buy” and an average target price of $41.00.

First Mid Bancshares Stock Performance

Shares of First Mid Bancshares stock opened at $37.81 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a 50 day simple moving average of $38.83 and a 200 day simple moving average of $35.53. First Mid Bancshares has a fifty-two week low of $28.04 and a fifty-two week high of $41.02. The firm has a market cap of $904.04 million, a P/E ratio of 11.63 and a beta of 0.89.

First Mid Bancshares (NASDAQ:FMBH) last released its earnings results on Thursday, August 1st. The bank reported $0.84 EPS for the quarter, beating the consensus estimate of $0.79 by $0.05. First Mid Bancshares had a return on equity of 10.56% and a net margin of 17.32%. The company had revenue of $79.19 million during the quarter, compared to analysts’ expectations of $78.25 million. Sell-side analysts predict that First Mid Bancshares will post 3.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Mid Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FMBH. CarsonAllaria Wealth Management Ltd. increased its stake in shares of First Mid Bancshares by 29.9% in the 3rd quarter. CarsonAllaria Wealth Management Ltd. now owns 9,927 shares of the bank’s stock valued at $386,000 after acquiring an additional 2,285 shares during the last quarter. SG Americas Securities LLC increased its stake in First Mid Bancshares by 44.6% in the third quarter. SG Americas Securities LLC now owns 12,006 shares of the bank’s stock valued at $467,000 after purchasing an additional 3,703 shares in the last quarter. Creative Planning raised its holdings in First Mid Bancshares by 2.1% in the second quarter. Creative Planning now owns 106,397 shares of the bank’s stock worth $3,498,000 after purchasing an additional 2,186 shares during the period. AQR Capital Management LLC boosted its position in shares of First Mid Bancshares by 106.4% during the second quarter. AQR Capital Management LLC now owns 31,333 shares of the bank’s stock worth $1,030,000 after purchasing an additional 16,150 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of First Mid Bancshares by 27.5% in the 2nd quarter. Renaissance Technologies LLC now owns 13,000 shares of the bank’s stock valued at $427,000 after buying an additional 2,800 shares during the period. 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.