Keefe, Bruyette & Woods Raises First Mid Bancshares (NASDAQ:FMBH) Price Target to $45.00

First Mid Bancshares (NASDAQ:FMBH) had its price target lifted by equities researchers at Keefe, Bruyette & Woods from $42.00 to $45.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 7.30% from the company’s current price.

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

First Mid Bancshares Stock Performance

NASDAQ:FMBH opened at $41.94 on Wednesday. First Mid Bancshares has a 1-year low of $28.86 and a 1-year high of $43.86. The stock has a market cap of $1.00 billion, a P/E ratio of 12.98 and a beta of 0.91. 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 firm has a 50-day moving average of $39.87 and a two-hundred day moving average of $37.14.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FMBH. Franklin Resources Inc. bought a new position in shares of First Mid Bancshares during the third quarter valued at approximately $566,000. Barclays PLC increased its position in First Mid Bancshares by 327.6% in the third quarter. Barclays PLC now owns 34,347 shares of the bank’s stock worth $1,337,000 after buying an additional 26,315 shares during the period. Wellington Management Group LLP lifted its stake in First Mid Bancshares by 7.3% in the third quarter. Wellington Management Group LLP now owns 387,926 shares of the bank’s stock valued at $15,094,000 after buying an additional 26,560 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of First Mid Bancshares by 1.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 88,910 shares of the bank’s stock valued at $3,459,000 after acquiring an additional 900 shares during the period. Finally, Centiva Capital LP bought a new position in shares of First Mid Bancshares during the third quarter worth about $213,000. 47.57% of the stock is owned by institutional investors and hedge funds.

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.