First Mid Bancshares (NASDAQ:FMBH) Price Target Raised to $45.00

First Mid Bancshares (NASDAQ:FMBH) had its target price boosted by investment analysts at Keefe, Bruyette & Woods from $42.00 to $45.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 8.10% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Stephens raised their price target on First Mid Bancshares from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. DA Davidson lowered First Mid Bancshares from a “buy” rating to a “neutral” rating and raised their price target for the stock from $44.00 to $47.00 in a research report on Tuesday, November 12th. Finally, Piper Sandler raised their price target on First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.50.

First Mid Bancshares Stock Up 0.2 %

Shares of FMBH stock traded up $0.09 during mid-day trading on Wednesday, hitting $41.63. The company’s stock had a trading volume of 10,319 shares, compared to its average volume of 57,951. The business has a 50-day moving average price of $39.79 and a 200 day moving average price of $37.10. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 0.91. First Mid Bancshares has a 52-week low of $28.86 and a 52-week high of $43.86. The stock has a market cap of $995.46 million, a price-to-earnings ratio of 12.79 and a beta of 0.91.

Hedge Funds Weigh In On First Mid Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of First Mid Bancshares by 7.1% in the 1st 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 in the last quarter. SG Americas Securities LLC boosted its stake in shares of First Mid Bancshares by 44.6% during the 3rd quarter. SG Americas Securities LLC now owns 12,006 shares of the bank’s stock worth $467,000 after buying an additional 3,703 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of First Mid Bancshares by 2.2% in the second quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock valued at $998,000 after buying an additional 650 shares during the last quarter. AQR Capital Management LLC lifted its holdings 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 buying an additional 16,150 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in First Mid Bancshares by 7.1% during the second quarter. Bank of New York Mellon Corp now owns 118,048 shares of the bank’s stock valued at $3,881,000 after purchasing an additional 7,849 shares in the last quarter. Institutional investors and hedge funds own 47.57% of the company’s stock.

First Mid Bancshares Company Profile

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.