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 currently trades at a P/E ratio of 11x and, according to InvestingPro’s analysis, the stock appears fairly valued. As a result of this transaction, Zimmer now owns a total of 4,050 shares directly through an individual retirement account (IRA). Additionally, Zimmer retains indirect ownership of 16,035 shares through a deferred compensation plan. The company has maintained dividend payments for 25 consecutive years, with a current yield of 2.65% and an overall financial health rating of “GOOD” from InvestingPro, which offers 5 additional key insights into FMBH’s financial outlook.
In other recent news, First Mid-Illinois Bancshares (NASDAQ:) has experienced various changes in stock ratings and price targets. DA Davidson lowered the stock’s rating from Buy to Neutral, citing conservative valuation, despite raising the price target from $44.00 to $47.00. The company acknowledged the bank’s strong performance but expressed caution about potential M&A activity and its growth positioning relative to its higher-growth peers.
Another development was the appointment of Mr. 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 the price target on First Mid Bancshares shares to $47.00, maintaining an overweight rating. The company 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 company, raised the price target on First Mid-Illinois Bancshares shares to $43.00, reiterating its overweight rating. The company expects the bank’s net interest margin to increase in the coming quarters due to continued efforts to reprice deposits, maturing certificates of deposit and increasing loan yields.
Finally, Keefe, Bruyette & Woods downgraded First Mid-Illinois Bancshares from an “Outperform” rating to “Market Perform,” suggesting the stock’s upside potential has been largely realized after recent strong performance . Nonetheless, the company maintained a $42.00 price target for the bank’s shares, indicating a stable valuation despite the rating adjustment.
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