First Mid Bancshares (NASDAQ:FMBH) Lowered to Sell Rating by Wall Street Zen

First Mid Bancshares (NASDAQ:FMBH) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other equities research analysts also recently issued reports on FMBH. Hovde Group reduced their price target on shares of First Mid Bancshares from $48.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Stephens reaffirmed a “positive” rating on shares of First Mid Bancshares in a report on Friday, May 2nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $40.00 price objective (down from $43.00) on shares of First Mid Bancshares in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $43.83.

First Mid Bancshares Price Performance

First Mid Bancshares stock opened at $39.69 on Friday. First Mid Bancshares has a one year low of $27.58 and a one year high of $43.86. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.94. The business has a fifty day moving average of $36.25 and a two-hundred day moving average of $36.07. The company has a market cap of $952.04 million, a P/E ratio of 11.81 and a beta of 0.87.

First Mid Bancshares (NASDAQ:FMBH) last announced its quarterly earnings data on Wednesday, April 30th. The bank reported $0.96 EPS for the quarter, beating the consensus estimate of $0.94 by $0.02. First Mid Bancshares had a net margin of 17.75% and a return on equity of 9.90%. The firm had revenue of $85.21 million during the quarter, compared to analysts’ expectations of $58.29 million. As a group, analysts predict that First Mid Bancshares will post 3.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. acquired a new position in shares of First Mid Bancshares in the first quarter worth $26,000. Sterling Capital Management LLC raised its stake in First Mid Bancshares by 804.9% in the 4th quarter. Sterling Capital Management LLC now owns 733 shares of the bank’s stock valued at $27,000 after purchasing an additional 652 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in First Mid Bancshares in the 1st quarter valued at about $29,000. Federated Hermes Inc. raised 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 valued at $35,000 after purchasing an additional 883 shares during the last quarter. Finally, Strs Ohio acquired a new position in First Mid Bancshares in the 1st quarter valued at about $42,000. 47.57% of the stock is currently owned by institutional investors and hedge funds.

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.