First Mid-Illinois Bancshares (FMBH) Downgraded by ValuEngine

ValuEngine downgraded shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) from a hold rating to a sell rating in a research note published on Thursday.

FMBH has been the subject of several other reports. Raymond James dropped their target price on First Mid-Illinois Bancshares from $45.00 to $42.00 and set an outperform rating for the company in a report on Tuesday, October 30th. Zacks Investment Research lowered First Mid-Illinois Bancshares from a hold rating to a sell rating in a research note on Tuesday, January 1st. Finally, BidaskClub lowered First Mid-Illinois Bancshares from a hold rating to a sell rating in a research note on Monday, December 31st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $43.50.

NASDAQ FMBH traded down $0.33 during trading on Thursday, hitting $33.10. 9,543 shares of the company’s stock traded hands, compared to its average volume of 24,526. The company has a quick ratio of 0.89, a current 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. The firm has a market cap of $513.69 million, a price-to-earnings ratio of 14.78, a PEG ratio of 1.21 and a beta of 0.45.



First Mid-Illinois Bancshares (NASDAQ:FMBH) last posted its quarterly earnings results on Thursday, October 25th. The bank reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. First Mid-Illinois Bancshares had a net margin of 21.57% and a return on equity of 9.91%. The business had revenue of $38.01 million during the quarter, compared to analyst estimates of $36.67 million. Equities analysts expect that First Mid-Illinois Bancshares will post 2.86 earnings per share for the current fiscal year.

In other news, CEO Clay M. Dean bought 2,821 shares of the company’s stock in a transaction dated Friday, November 23rd. The stock was bought at an average cost of $35.45 per share, for a total transaction of $100,004.45. Following the completion of the acquisition, the chief executive officer now owns 1,000 shares in the company, valued at approximately $35,450. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 17.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Federated Investors Inc. PA boosted its holdings in shares of First Mid-Illinois Bancshares by 134.9% during the third quarter. Federated Investors Inc. PA now owns 1,010 shares of the bank’s stock worth $40,000 after purchasing an additional 580 shares during the period. Strs Ohio purchased a new stake in shares of First Mid-Illinois Bancshares during the second quarter worth about $137,000. SG Americas Securities LLC purchased a new stake in First Mid-Illinois Bancshares in the 3rd quarter worth approximately $162,000. Alpine Woods Capital Investors LLC purchased a new stake in First Mid-Illinois Bancshares in the 3rd quarter worth approximately $202,000. Finally, MetLife Investment Advisors LLC lifted its holdings in First Mid-Illinois Bancshares by 37.2% in the 2nd quarter. MetLife Investment Advisors LLC now owns 5,809 shares of the bank’s stock worth $228,000 after buying an additional 1,574 shares during the period. Institutional investors own 30.41% of the company’s stock.

About First Mid-Illinois Bancshares

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: How are Outstanding Shares Different from Authorized Shares?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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