Keefe, Bruyette & Woods Downgrades First Mid Bancshares (NASDAQ:FMBH) to Market Perform

First Mid Bancshares (NASDAQ:FMBH) was downgraded by analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. They currently have a $42.00 price target on the bank’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 13.98% from the stock’s current price.

Separately, Hovde Group assumed coverage on First Mid Bancshares in a research note on Wednesday, June 26th. They issued an “outperform” rating and a $35.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, First Mid Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.20.

First Mid Bancshares Stock Down 0.5 %

FMBH opened at $36.85 on Wednesday. First Mid Bancshares has a twelve month low of $25.73 and a twelve month high of $41.02. The firm has a market cap of $880.57 million, a price-to-earnings ratio of 11.89 and a beta of 0.89. The firm’s 50-day simple moving average is $38.64 and its 200-day simple moving average is $34.42. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 0.91.

First Mid Bancshares (NASDAQ:FMBH) last posted its quarterly earnings data on Thursday, August 1st. The bank reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.05. The company had revenue of $79.19 million during the quarter, compared to analyst estimates of $78.25 million. First Mid Bancshares had a net margin of 16.75% and a return on equity of 10.43%. Equities research analysts anticipate that First Mid Bancshares will post 3.47 EPS for the current fiscal year.

Institutional Investors Weigh In On First Mid Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in FMBH. CWM LLC increased its position in First Mid Bancshares by 344.2% in the second quarter. CWM LLC now owns 884 shares of the bank’s stock worth $29,000 after purchasing an additional 685 shares during the period. EntryPoint Capital LLC bought a new stake in shares of First Mid Bancshares during the first quarter worth approximately $29,000. Price T Rowe Associates Inc. MD acquired a new position in First Mid Bancshares in the first quarter valued at approximately $208,000. Choreo LLC boosted its stake in First Mid Bancshares by 17.9% in the second quarter. Choreo LLC now owns 7,568 shares of the bank’s stock valued at $246,000 after acquiring an additional 1,149 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in First Mid Bancshares by 84.7% during the 1st quarter. BNP Paribas Financial Markets now owns 10,774 shares of the bank’s stock worth $352,000 after acquiring an additional 4,941 shares during the period. 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.