First Mid Bancshares price target lowered to $40 from $43 at Raymond James

Raymond James lowered the firm’s price target on First Mid Bancshares (FMBH) to $40 from $43 and keeps an Outperform rating on the shares. Trends were mostly solid in Q1, including steeper net interest margin expansion, lower operating expenses and solid credit metrics, the analyst tells investors in a research note. Raymond James believes shares remain well-positioned to maintain their premium valuation relative to peers.