First Mid Bancshares price target raised to $47 from $46 at Piper Sandler

Piper Sandler raised the firm’s price target on First Mid Bancshares (FMBH) to $47 from $46 and keeps an Overweight rating on the shares following “solid” Q3 results. The firm said First Mid Bancshares expected price to earnings expansion is further above peers via “superior” operating leverage from both solid net interest income and core fee income growth prospects as well as continued “strong” cost discipline. Piper added that First Mid has a “best in class” credit profile and excess capital flexibility.