BidaskClub Upgrades First Mid-Illinois Bancshares (FMBH) to Hold

BidaskClub upgraded shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) from a sell rating to a hold rating in a research report report published on Wednesday, March 14th.

Other equities analysts have also issued research reports about the company. DA Davidson raised First Mid-Illinois Bancshares from a neutral rating to a buy rating and set a $37.00 price objective for the company in a research report on Friday, February 9th. Zacks Investment Research upgraded First Mid-Illinois Bancshares from a sell rating to a hold rating in a report on Wednesday, December 20th.

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Shares of First Mid-Illinois Bancshares stock traded down $0.61 on Wednesday, hitting $36.21. The stock had a trading volume of 50,485 shares, compared to its average volume of 23,891. First Mid-Illinois Bancshares has a one year low of $31.05 and a one year high of $42.03. The stock has a market capitalization of $458.93, a price-to-earnings ratio of 16.09, a P/E/G ratio of 1.55 and a beta of 0.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.83.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.11). The business had revenue of $30.69 million during the quarter, compared to analysts’ expectations of $30.80 million. First Mid-Illinois Bancshares had a return on equity of 9.28% and a net margin of 20.54%. equities research analysts forecast that First Mid-Illinois Bancshares will post 2.6 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in FMBH. Siena Capital Partners GP LLC bought a new stake in shares of First Mid-Illinois Bancshares during the 4th quarter valued at about $2,172,000. Bowling Portfolio Management LLC purchased a new position in shares of First Mid-Illinois Bancshares during the 4th quarter valued at about $1,775,000. State Street Corp lifted its holdings in First Mid-Illinois Bancshares by 40.2% in the 2nd quarter. State Street Corp now owns 153,658 shares of the bank’s stock worth $5,264,000 after purchasing an additional 44,028 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in First Mid-Illinois Bancshares in the 4th quarter worth approximately $1,077,000. Finally, Dimensional Fund Advisors LP lifted its holdings in First Mid-Illinois Bancshares by 67.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 61,408 shares of the bank’s stock worth $2,358,000 after purchasing an additional 24,666 shares in the last quarter. Institutional investors and hedge funds own 22.75% of the company’s stock.

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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.

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