First Mid-Illinois Bancshares (FMBH) Downgraded by BidaskClub

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

FMBH has been the topic of a number of other research reports. Raymond James reduced their price target on First Mid-Illinois Bancshares from $45.00 to $42.00 and set an outperform rating on the stock in a report on Tuesday, October 30th. ValuEngine downgraded First Mid-Illinois Bancshares from a hold rating to a sell rating in a report on Tuesday, November 6th. Finally, Zacks Investment Research downgraded First Mid-Illinois Bancshares from a buy rating to a hold rating in a report on Friday, November 2nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $43.50.

FMBH opened at $32.68 on Thursday. The stock has a market capitalization of $499.91 million, a PE ratio of 12.52, a P/E/G ratio of 1.29 and a beta of 0.22. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.36. First Mid-Illinois Bancshares has a 12 month low of $30.01 and a 12 month high of $42.46.



First Mid-Illinois Bancshares (NASDAQ:FMBH) last released its quarterly earnings data on Thursday, October 25th. The bank reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.08. First Mid-Illinois Bancshares had a return on equity of 9.91% and a net margin of 21.57%. The firm had revenue of $38.01 million for the quarter, compared to the consensus estimate of $36.67 million. On average, analysts predict that First Mid-Illinois Bancshares will post 2.81 earnings per share for the current year.

In other First Mid-Illinois Bancshares news, CEO Clay M. Dean purchased 2,821 shares of First Mid-Illinois Bancshares stock in a transaction that occurred on Friday, November 23rd. The shares were bought at an average price of $35.45 per share, for a total transaction of $100,004.45. Following the acquisition, the chief executive officer now directly owns 1,000 shares in the company, valued at $35,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 17.80% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in FMBH. Maltese Capital Management LLC increased its holdings in First Mid-Illinois Bancshares by 190.0% during the 2nd quarter. Maltese Capital Management LLC now owns 226,262 shares of the bank’s stock valued at $8,892,000 after purchasing an additional 148,252 shares during the period. BlackRock Inc. boosted its position in First Mid-Illinois Bancshares by 23.0% during the 2nd quarter. BlackRock Inc. now owns 603,780 shares of the bank’s stock valued at $23,729,000 after acquiring an additional 112,981 shares in the last quarter. Morgan Stanley boosted its position in First Mid-Illinois Bancshares by 198.0% during the 3rd quarter. Morgan Stanley now owns 85,105 shares of the bank’s stock valued at $3,433,000 after acquiring an additional 56,549 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in First Mid-Illinois Bancshares by 49.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 140,082 shares of the bank’s stock valued at $5,650,000 after acquiring an additional 46,304 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in First Mid-Illinois Bancshares by 35.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 166,327 shares of the bank’s stock valued at $6,537,000 after acquiring an additional 43,847 shares in the last quarter. Institutional investors own 30.41% 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.

Recommended Story: Diversification in Your Portfolio

Receive News & Ratings for First Mid-Illinois Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Mid-Illinois Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply