First Mid Bancshares price target lowered to $38 from $39 at Piper Sandler

Piper Sandler lowered the firm’s price target on First Mid Bancshares to $38 from $39 and keeps an Overweight rating on the shares. The firm notes First Mid Bancshares posted solid Q1 results highlighted by 4% PPNR upside driven by stronger net interest income growth and continued well-controlled operating expenses.