tiprankstipranks
First Mid Bancshares price target raised to $43 from $40 at Stephens
The Fly

First Mid Bancshares price target raised to $43 from $40 at Stephens

Stephens raised the firm’s price target on First Mid Bancshares (FMBH) to $43 from $40 and keeps an Overweight rating on the shares. While net interest income came in below the firm’s forecast in Q3, the repricing deposits, roll-off of CDs, and higher loan yields will support net interest margin expansion over the next few quarters, says the firm, which contends that First Mid’s “diversified revenue stream, conservative risk culture, and growth opportunities should be unmistakable through any economic or interest rate cycle.”

Don't Miss our Black Friday Offers:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App