Company did not provide specific guidance or outlook for future quarters or the full year
Overview
US community bank's Q2 adjusted net income beat analyst expectations
Company completed merger of Two Rivers Bank & Trust during the quarter
Quarterly dividend increased by $0.01 to $0.26 per share
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for First Mid Bancshares Inc is $50.00, about 3.1% above its July 22 closing price of $48.50
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago
Result drivers and key details
TWO RIVERS MERGER - Inclusion of Two Rivers Bank & Trust for a full quarter drove increases in net interest income and non-interest income
LOAN REPRICING - Retention of maturing loans at higher rates contributed to net interest income growth
FMBH•
