Other research analysts have also issued reports about the company. Zacks Investment Research raised First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Raymond James lowered their price target on First Mid-Illinois Bancshares from $40.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Finally, ValuEngine raised First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $38.00.
Shares of FMBH traded down $0.31 during trading hours on Tuesday, reaching $34.67. 544 shares of the company’s stock traded hands, compared to its average volume of 25,015. The firm has a market capitalization of $587.95 million, a price-to-earnings ratio of 12.69 and a beta of 0.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.86 and a quick ratio of 0.86. First Mid-Illinois Bancshares has a twelve month low of $30.20 and a twelve month high of $37.42. The business’s fifty day simple moving average is $34.75 and its two-hundred day simple moving average is $33.96.
Large investors have recently added to or reduced their stakes in the stock. GW&K Investment Management LLC acquired a new position in First Mid-Illinois Bancshares in the second quarter worth $4,766,000. BlackRock Inc. raised its position in shares of First Mid-Illinois Bancshares by 13.8% during the second quarter. BlackRock Inc. now owns 760,095 shares of the bank’s stock worth $26,542,000 after acquiring an additional 92,276 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of First Mid-Illinois Bancshares during the second quarter worth $1,789,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of First Mid-Illinois Bancshares during the third quarter worth $1,693,000. Finally, Vanguard Group Inc. raised its position in shares of First Mid-Illinois Bancshares by 6.9% during the second quarter. Vanguard Group Inc. now owns 551,437 shares of the bank’s stock worth $19,256,000 after acquiring an additional 35,702 shares during the last quarter. 32.16% of the stock is currently owned by hedge funds and other institutional investors.
First Mid-Illinois Bancshares Company Profile
First Mid Bancshares, Inc, through its subsidiaries, provides community banking products and services to commercial, retail, and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits, and time deposits. The company's loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.
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