James Edwin Zimmer, Director of First Mid Bancshares, Inc. (NASDAQ:FMBH), purchased 1,000 shares of common stock on December 19, 2024. The purchase was made at an average price of $39.8729 per share, for a total of approximately $39,872. The $860 million market cap bank is currently trading at a P/E ratio of 11 times and based on InvestingPro analysis, the stock appears to be fairly valued. Following this transaction, Zimmer now owns a total of 4,050 shares directly through an Individual Retirement Account (IRA). Additionally, Zimmer maintains indirect ownership of 16,035 shares through a Deferred Compensation Plan. The company has maintained a dividend payment for 25 consecutive years, with a current yield of 2.65% and an overall financial health rating of ‘GOOD’ from InvestingPro, which offers five additional key insights into FMBH’s financial outlook.
In other recent news, First Mid-Illinois Bancshares (NASDAQ:) has seen several changes to stock ratings and price targets. DA Davidson downgraded the stock from Buy to Neutral, citing caution in valuation, despite raising the price target to $47.00 from $44.00. The firm acknowledged the bank’s strong performance, but expressed caution about potential M&A activity and its growth positioning compared to higher-growth peers.
Another development was the appointment of Paul L. Palmby to the board of directors of First Mid Bancshares. He is expected to serve on several committees until the current Class I term expires in 2026.
Piper Sandler raised First Mid Bancshares’ price target to $47.00, maintaining an Overweight rating. The firm highlighted the company’s operational efficiency, strict cost management, high-quality credit profile and increasing capital flexibility as key factors supporting the positive outlook.
Stephens, a financial services firm, raised its price target on First Mid-Illinois Bancshares to $43.00, reiterating its Overweight rating. The firm anticipates the bank’s net interest margin will expand in the coming quarters due to continued efforts to repricing deposits, the maturation of certificates of deposit, and rising loan yields.
Finally, Keefe, Bruyette & Woods downgraded First Mid-Illinois Bancshares from an “outperform” rating to a “market perform,” suggesting the stock’s upside potential has largely been realized after the solid recent performance. However, the company maintained a $42.00 price target on the bank’s shares, indicating a stable valuation despite the rating adjustment.
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