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

First Mid Bancshares (NASDAQ:FMBH) was downgraded by stock analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, Briefing.com reports. They presently have a $42.00 price objective on the bank’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 11.26% from the company’s current price.

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

First Mid Bancshares Stock Performance

Shares of FMBH stock opened at $37.75 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.48. The stock has a fifty day moving average of $38.67 and a 200 day moving average of $34.40. The firm has a market capitalization of $902.07 million, a price-to-earnings ratio of 12.18 and a beta of 0.89. First Mid Bancshares has a 52 week low of $25.73 and a 52 week high of $41.02.

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

Institutional Inflows and Outflows

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