(NASDAQ:FMBH), acquired by James Edwin Zimmer, Director of First Mid Bancshares, Inc. (NASDAQ:FMBH), acquired 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 consideration of approximately $39,872. The $860 million market cap bank is currently trading at a P/E ratio of 11x, and according to… InvestingPro Analysis, it seems that the stock is fairly valued. Following this deal, Zimmer now has a total of 4,050 shares directly through his Individual Retirement Account (IRA). In addition, Zimmer maintains indirect ownership of 16,035 shares through a deferred compensation plan. The company has maintained its dividend for 25 consecutive years, with a current yield of 2.65% and a “Good” overall financial health rating from InvestingPro, which provides 5 additional key insights into FMBH's financial outlook.
In other recent news, First Mid-Illinois Bancshares (NASDAQ:) saw various shifts in its stock ratings and price targets. DA Davidson downgraded the stock from Buy to Neutral, citing caution in the valuation, though increased its price target to $47.00 from $44.00. The company acknowledged the bank's strong performance but expressed caution about potential M&A activity and its growth position relative to higher-growth peers.
Another development is the appointment of Mr. Paul L. Balembe serves on the board of directors of First Mid Bancshares. He is expected to serve on several committees until his current first-class term expires in 2026.
Piper Sandler raised his price target on shares of First Mid Bancshare to $47.00, while maintaining an Overweight rating. The company highlighted the company's operational efficiency, stringent cost management, high-quality credit profile, and growing capital flexibility as key factors supporting the positive outlook.
Stevens Financial Services raised its price target on First Mid-Illinois Bancshares to $43.00, reiterating its Overweight rating. The company expects the bank's net interest margin to expand in the coming quarters due to ongoing efforts to repricing deposits, maturing certificates of deposit, and increasing loan returns.
Finally, Keefe, Bruyette & Woods downgraded First Mid-Illinois Bancshare from an “outperform” rating to a “market perform,” indicating that the stock's potential upside has largely been realized following recent strong performance. However, the company maintained a $42.00 price target on the bank's shares, indicating a stable valuation despite the rating revision.
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