BidaskClub Lowers First Mid-Illinois Bancshares (FMBH) to Sell

BidaskClub cut shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) from a hold rating to a sell rating in a report released on Wednesday morning.

A number of other research analysts also recently issued reports on the stock. ValuEngine downgraded shares of First Mid-Illinois Bancshares from a hold rating to a sell rating in a research report on Wednesday, October 17th. Zacks Investment Research raised shares of First Mid-Illinois Bancshares from a hold rating to a buy rating and set a $46.00 price objective on the stock in a research report on Thursday, August 9th. Finally, Raymond James assumed coverage on shares of First Mid-Illinois Bancshares in a research report on Thursday, July 12th. They set an outperform rating and a $45.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. First Mid-Illinois Bancshares currently has a consensus rating of Hold and a consensus target price of $44.25.

First Mid-Illinois Bancshares stock traded down $0.43 during mid-day trading on Wednesday, reaching $35.68. 33,197 shares of the company traded hands, compared to its average volume of 33,536. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.30. The company has a market cap of $552.30 million, a P/E ratio of 13.84, a PEG ratio of 1.43 and a beta of 0.09. First Mid-Illinois Bancshares has a 52-week low of $30.01 and a 52-week high of $42.46.



First Mid-Illinois Bancshares (NASDAQ:FMBH) last issued its quarterly earnings data on Thursday, July 26th. The bank reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.07. The business had revenue of $35.82 million for the quarter, compared to the consensus estimate of $34.50 million. First Mid-Illinois Bancshares had a net margin of 21.57% and a return on equity of 10.44%. Analysts predict that First Mid-Illinois Bancshares will post 2.81 EPS for the current fiscal year.

The business also recently disclosed a semiannual dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th will be given a dividend of $0.36 per share. This is an increase from First Mid-Illinois Bancshares’s previous semiannual dividend of $0.34. This represents a yield of 2.02%. The ex-dividend date of this dividend is Tuesday, November 6th. First Mid-Illinois Bancshares’s payout ratio is presently 4.46%.

In other news, COO Michael L. Taylor sold 2,500 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $40.45, for a total transaction of $101,125.00. Following the sale, the chief operating officer now owns 11,433 shares in the company, valued at approximately $462,464.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 17.80% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Bank of Montreal Can boosted its holdings in shares of First Mid-Illinois Bancshares by 4.1% during the 2nd quarter. Bank of Montreal Can now owns 32,961 shares of the bank’s stock valued at $1,295,000 after buying an additional 1,297 shares in the last quarter. MetLife Investment Advisors LLC boosted its holdings in shares of First Mid-Illinois Bancshares by 37.2% during the 2nd quarter. MetLife Investment Advisors LLC now owns 5,809 shares of the bank’s stock valued at $228,000 after buying an additional 1,574 shares in the last quarter. LSV Asset Management boosted its holdings in shares of First Mid-Illinois Bancshares by 4.2% during the 2nd quarter. LSV Asset Management now owns 45,100 shares of the bank’s stock valued at $1,772,000 after buying an additional 1,800 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of First Mid-Illinois Bancshares by 1.7% during the 1st quarter. Northern Trust Corp now owns 113,464 shares of the bank’s stock valued at $4,136,000 after buying an additional 1,949 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of First Mid-Illinois Bancshares by 6.3% during the 2nd quarter. California Public Employees Retirement System now owns 46,056 shares of the bank’s stock valued at $1,810,000 after buying an additional 2,718 shares in the last quarter. Hedge funds and other institutional investors own 30.35% of the company’s stock.

First Mid-Illinois Bancshares Company Profile

First Mid-Illinois Bancshares, Inc, through its subsidiaries, provides community banking products and services to commercial, retail, and agricultural customers in the United States. The company accepts various deposit products, such as demand deposits, savings accounts, NOW accounts, money market deposits, and time deposits.

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