First Mid Bancshares (NASDAQ:FMBH) Downgraded to Neutral Rating by DA Davidson

First Mid Bancshares (NASDAQ:FMBH) was downgraded by analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday,Finviz reports. They currently 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 8.80% from the stock’s previous close.

FMBH has been the subject of several other research reports. Piper Sandler boosted their price objective on shares of First Mid Bancshares from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods downgraded shares of First Mid Bancshares from an “outperform” rating to a “market perform” rating and set a $42.00 price objective on the stock. in a report on Wednesday, October 2nd. Finally, Stephens upped their price objective on 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.00.

First Mid Bancshares Stock Up 4.4 %

NASDAQ:FMBH opened at $43.20 on Tuesday. First Mid Bancshares has a twelve month low of $28.86 and a twelve month high of $43.30. The stock has a fifty day simple moving average of $38.91 and a 200-day simple moving average of $36.02. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 13.29 and a beta of 0.89. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.48.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. increased its position in shares of First Mid Bancshares by 29.3% during the 1st quarter. Russell Investments Group Ltd. now owns 67,127 shares of the bank’s stock valued at $2,194,000 after purchasing an additional 15,227 shares during the period. Vanguard Group Inc. lifted its holdings 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 valued at $42,230,000 after purchasing an additional 85,434 shares during the last quarter. SG Americas Securities LLC increased its stake in First Mid Bancshares by 44.6% in the 3rd quarter. SG Americas Securities LLC now owns 12,006 shares of the bank’s stock worth $467,000 after purchasing an additional 3,703 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of First Mid Bancshares by 2.2% during the second quarter. Victory Capital Management Inc. now owns 30,350 shares of the bank’s stock valued at $998,000 after buying an additional 650 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of First Mid Bancshares by 106.4% in the 2nd quarter. AQR Capital Management LLC now owns 31,333 shares of the bank’s stock valued at $1,030,000 after acquiring an additional 16,150 shares in the last quarter. 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.