First Mid Bancshares

FMBH · NASDAQ

$49.88+$0.81 (+1.65%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $49.07

FMBH analyst rating

HoldConsensus of 3 analysts over the last 12 months. 33% rate it a buy.

Strong buy0
Buy1
Hold2
Underperform0
Sell0

12-month price target · 9 analysts

Average $56.46 (+13.2% upside)

Low: $49.49
Now: $49.88
High: $65.63

Upgrades and downgrades

The latest rating actions, newest first

FMBH analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Piper Sandler	Jul 28, 2026	Maintains	Overweight	$55.00 → $62.50	50%
Keefe, Bruyette & Woods	Jul 27, 2026	Maintains	Market Perform	$50.00 → $54.00	68%
DA Davidson	Jul 27, 2026	Maintains	Neutral	$47.00 → $54.00	50%
DA Davidson	May 4, 2026	Maintains	Neutral	$44.00 → $47.00	50%
Piper Sandler	May 1, 2026	Maintains	Overweight	$52.00 → $55.00	50%
Keefe, Bruyette & Woods	May 1, 2026	Maintains	Market Perform	$46.00 → $48.00	68%
DA Davidson	Feb 2, 2026	Maintains	Neutral	$45.00 → $46.00	50%
Piper Sandler	Nov 3, 2025	Maintains	Overweight	$49.00 → $48.00	50%

The case for and against

Updated Oct 18, 2026

Bull case

First Mid Bancshares is supported by strong core earnings momentum, with spread income rising 6.4% quarter over quarter to $70.8M, NII up 6% to $71.6M, and NIM expanding to 3.78% as lower deposit costs and favorable repricing drive further margin improvement. Its outlook is also strengthened by organic balance sheet growth, as loans and deposits increased 4.3% and 6.3% excluding the TRVR acquisition, while insurance commissions lifted noninterest income 21.9% to $26.4M and broader fee businesses remain a meaningful revenue diversifier. The TRVR deal adds scale, wealth capabilities, and cross-sell opportunities while management targets cost saves and maintains disciplined underwriting, supporting positive operating leverage, solid capital ratios, and a benign credit-cost backdrop.

Bear case

First Mid Bancshares is viewed negatively because its balance sheet remains heavily exposed to real estate, with more than half of loans tied to commercial and residential property, while agricultural and farmland loans still add vulnerability to commodity-price weakness. Credit quality is also deteriorating, as criticized loans rose $88.3 million sequentially to $288.8 million, or 4.16% of loans, and NPAs increased to $49.6 million, suggesting more migration risk despite low net charge-offs of $1.5 million. In addition, concentration in Illinois, a downgraded state economy, and ongoing merger integration risks could pressure operating performance, offsetting fee-income momentum that rose to $27.0 million and now represents 27% of total 1Q revenue.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.