Sandler O’Neill Begins Coverage on First Mid-Illinois Bancshares (FMBH)

Sandler O’Neill initiated coverage on shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) in a report issued on Thursday, Marketbeat reports. The firm issued a buy rating and a $41.00 target price on the bank’s stock.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of First Mid-Illinois Bancshares from a hold rating to a strong sell rating in a research note on Monday, April 2nd. BidaskClub upgraded shares of First Mid-Illinois Bancshares from a hold rating to a buy rating in a research note on Thursday, March 22nd. Finally, DA Davidson upgraded shares of First Mid-Illinois Bancshares from a neutral rating to a buy rating and set a $37.00 target price for the company in a research note on Friday, February 9th.

Shares of NASDAQ:FMBH opened at $36.21 on Thursday. The firm has a market cap of $458.93, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 1.55 and a beta of 0.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.27. First Mid-Illinois Bancshares has a 1-year low of $31.05 and a 1-year high of $42.03.

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

Hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC acquired a new stake in shares of First Mid-Illinois Bancshares in the 4th quarter worth $163,000. Citadel Advisors LLC acquired a new stake in shares of First Mid-Illinois Bancshares in the 4th quarter worth $236,000. First Trust Advisors LP acquired a new stake in shares of First Mid-Illinois Bancshares in the 3rd quarter worth $273,000. Thrivent Financial For Lutherans acquired a new stake in shares of First Mid-Illinois Bancshares in the 4th quarter worth $302,000. Finally, SG Americas Securities LLC acquired a new stake in shares of First Mid-Illinois Bancshares in the 3rd quarter worth $331,000. Institutional investors 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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