First Mid Bancshares price target lowered to $38 from $40 at Stephens

Stephens analyst Terry McEvoy lowered the firm’s price target on First Mid Bancshares to $38 from $40 and keeps an Overweight rating on the shares. Earnings were positively impacted by stronger-than-expected loan growth, strategic balance sheet actions, low credit cost and a full quarter impact of Blackhawk Bank, says the analyst, who adds that the diversity and quality of First Mid’s revenue “stand out.”