Hovde Group Has Lowered Expectations for First Mid Bancshares (NASDAQ:FMBH) Stock Price

First Mid Bancshares (NASDAQ:FMBH) had its target price lowered by Hovde Group from $48.00 to $43.00 in a report released on Friday, Marketbeat reports. The firm currently has an “outperform” rating on the bank’s stock. Hovde Group’s target price suggests a potential upside of 21.30% from the company’s current price.

Other research analysts also recently issued research reports about the company. Stephens reaffirmed an “equal weight” rating and issued a $43.00 price objective on shares of First Mid Bancshares in a research note on Friday, January 24th. Keefe, Bruyette & Woods increased their target price on shares of First Mid Bancshares from $42.00 to $45.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $45.00.

First Mid Bancshares Stock Performance

First Mid Bancshares stock opened at $35.45 on Friday. The business has a 50 day moving average of $37.25 and a 200-day moving average of $38.73. First Mid Bancshares has a 1 year low of $28.86 and a 1 year high of $43.86. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $850.16 million, a P/E ratio of 10.78 and a beta of 0.88.

First Mid Bancshares (NASDAQ:FMBH) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.05. First Mid Bancshares had a return on equity of 10.10% and a net margin of 17.39%. On average, equities research analysts predict that First Mid Bancshares will post 3.61 earnings per share for the current year.

Insiders Place Their Bets

In other First Mid Bancshares news, Director James Edwin Zimmer purchased 1,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was purchased at an average price of $39.87 per share, for a total transaction of $39,870.00. Following the transaction, the director now owns 4,050 shares in the company, valued at $161,473.50. The trade was a 32.79 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 7.70% of the stock is owned by corporate insiders.

Institutional Trading of First Mid Bancshares

Hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC lifted its position in First Mid Bancshares by 804.9% in the 4th quarter. Sterling Capital Management LLC now owns 733 shares of the bank’s stock worth $27,000 after buying an additional 652 shares during the last quarter. Federated Hermes Inc. increased its stake in First Mid Bancshares by 1,226.4% in the 4th quarter. Federated Hermes Inc. now owns 955 shares of the bank’s stock worth $35,000 after purchasing an additional 883 shares during the period. Aquatic Capital Management LLC purchased a new position in First Mid Bancshares in the 4th quarter worth approximately $65,000. Tower Research Capital LLC TRC increased its stake in First Mid Bancshares by 16.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,959 shares of the bank’s stock worth $72,000 after purchasing an additional 276 shares during the period. Finally, New York State Teachers Retirement System purchased a new position in First Mid Bancshares in the 4th quarter worth approximately $76,000. Institutional investors 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.