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.”