First Mid Bancshares (NASDAQ:FMBH) Stock Rating Lowered by DA Davidson

First Mid Bancshares (NASDAQ:FMBH) was downgraded by equities research analysts at DA Davidson from a “buy” rating to a “neutral” rating in a report issued on Tuesday, Marketbeat.com reports. They presently have a $47.00 price objective on the bank’s stock, up from their prior price objective of $44.00. DA Davidson’s price target would indicate a potential upside of 11.56% from the stock’s previous close.

Several other equities research analysts also recently issued reports on FMBH. Piper Sandler boosted their price objective on First Mid Bancshares from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Stephens boosted their price target on shares of First Mid Bancshares from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Keefe, Bruyette & Woods lowered shares of First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price objective for the company. in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, First Mid Bancshares has an average rating of “Moderate Buy” and an average price target of $42.00.

First Mid Bancshares Stock Down 0.6 %

Shares of NASDAQ FMBH opened at $42.13 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $39.02 and its two-hundred day moving average is $36.14. First Mid Bancshares has a 52-week low of $28.86 and a 52-week high of $43.52. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 12.96 and a beta of 0.89.

Hedge Funds Weigh In On First Mid Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of First Mid Bancshares by 7.1% during the first quarter. Vanguard Group Inc. now owns 1,292,218 shares of the bank’s stock worth $42,230,000 after buying an additional 85,434 shares during the period. Dimensional Fund Advisors LP grew its holdings in First Mid Bancshares by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 778,135 shares of the bank’s stock worth $25,584,000 after acquiring an additional 36,769 shares in the last quarter. American Century Companies Inc. increased its position in shares of First Mid Bancshares by 23.7% in the 2nd quarter. American Century Companies Inc. now owns 340,343 shares of the bank’s stock valued at $11,190,000 after purchasing an additional 65,314 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of First Mid Bancshares by 7.1% in the 2nd 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. Finally, Creative Planning lifted its position in shares of First Mid Bancshares by 2.1% during the 2nd quarter. Creative Planning now owns 106,397 shares of the bank’s stock worth $3,498,000 after purchasing an additional 2,186 shares during the last quarter. Hedge funds and other institutional investors own 47.57% of the company’s stock.

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.