Strength Seen in First Mid Bancshares (FMBH): Can Its 6.1% Jump Turn into More Strength?

First Mid Bancshares (FMBH) shares ended the last trading session 6.1% higher at $32.89. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.4% loss over the past four weeks.

First Mid Bancshares shares rallied sharply, benefiting from broad market strength following President Donald Trump’s announcement of a 90-day suspension on tariffs for non-retaliating countries. The policy shift eased trade tensions and improved market sentiment, fueling a sharp uptick in FMBH shares.

This bank holding company is expected to post quarterly earnings of $0.94 per share in its upcoming report, which represents a year-over-year change of +1.1%. Revenues are expected to be $84.7 million, up 5.9% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For First Mid Bancshares, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FMBH going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

First Mid Bancshares belongs to the Zacks Banks - Northeast industry. Another stock from the same industry, First Commonwealth Financial (FCF), closed the last trading session 4.7% higher at $14.82. Over the past month, FCF has returned -7.9%.

For First Commonwealth Financial

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This article originally published on Zacks Investment Research (zacks.com).

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