First Mid-Illinois Bancshares price target lowered to $34 from $38 at Raymond James

Raymond James analyst Daniel Tamayo lowered the firm’s price target on First Mid-Illinois Bancshares to $34 from $38 and keeps an Outperform rating on the shares. First Mid’s Q1 PTPPI results beat estimates, driven by stronger than forecast insurance revenues, while operating expense results were in-line, the analyst tells investors in a research note.