James Edwin Zimmer, Principal at First Mid Bancshares, Inc. (NASDAQ:FMBH), acquired 1,000 common shares 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 bank, with a market capitalization of $860 million, currently trades at a P/E ratio of 11x, and according InvestingPro analysis, the stock appears to be fairly valued. Following this transaction, Zimmer now holds a total of 4,050 shares directly through an Individual Retirement Account (IRA). In addition, Zimmer retains indirect ownership of 16,035 shares through the Deferred Compensation Plan. The company has maintained dividend payments for 25 consecutive years, with a current yield of 2.65% and a ‘GOOD’ overall financial health rating from InvestingPro, which offers 5 additional key insights on FMBH’s financial outlook.
In other recent news, First Mid-Illinois Bancshares (NASDAQ: ) has seen various changes to its stock rating and price target. DA Davidson downgraded the stock from Buy to Neutral, citing valuation caution, despite raising its price target to $47.00 from $44.00. The company recognized the bank’s solid performance but expressed caution about potential M&A activity and its growth positioning compared to higher-growth peers.
Another event was the appointment of Mr. Paul L. Palmby to the Board of Directors of First Mid Bancshares. He is expected to serve on several boards until the current Class I term expires in 2026.
Piper Sandler raised their target price on First Mid Bancshares to $47.00, maintaining the Overweight rating. The company highlighted the company’s operational efficiency, tight cost management, high-quality credit profile and growing capital flexibility as key factors supporting the positive outlook.
Stephens, a financial services firm, raised their target price on First Mid-Illinois Bancshares to $43.00, reiterating an Overweight rating. The company anticipates that the bank’s net interest margin will increase in the coming quarters due to continued efforts to change the cost of deposits, maturing certificates of deposit and increasing loan yields.
Finally, Keefe, Bruyette & Woods downgraded First Mid-Illinois Bancshares from “Outperform” to “Market Perform,” suggesting that the stock’s upside potential has largely been realized after its recent strong performance. Despite this, the firm maintained a $42.00 price target on the bank’s stock, indicating a stable valuation despite the rating adjustment.
This article was generated with the support of artificial intelligence and reviewed by an editor. See our T&C for more information.
