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

First Mid-Illinois Bancshares (NASDAQ:FMBH) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Thursday.

Several other brokerages have also weighed in on FMBH. Zacks Investment Research lowered shares of First Mid-Illinois Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Raymond James started coverage on shares of First Mid-Illinois Bancshares in a research report on Thursday, July 12th. They set an “outperform” rating and a $45.00 target price on the stock. Finally, DA Davidson upped their target price on shares of First Mid-Illinois Bancshares from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, June 19th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $44.25.

Shares of FMBH opened at $36.99 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.30. First Mid-Illinois Bancshares has a twelve month low of $30.01 and a twelve month high of $42.46. The stock has a market cap of $616.65 million, a price-to-earnings ratio of 16.51, a P/E/G ratio of 1.60 and a beta of 0.09.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last issued its earnings results on Thursday, July 26th. The bank reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.07. First Mid-Illinois Bancshares had a net margin of 22.55% and a return on equity of 9.56%. The company had revenue of $35.82 million for the quarter, compared to analyst estimates of $34.50 million. Equities analysts anticipate that First Mid-Illinois Bancshares will post 2.81 EPS for the current year.

In other First Mid-Illinois Bancshares news, insider Laurel G. Allenbaugh sold 2,500 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $40.36, for a total value of $100,900.00. Following the sale, the insider now owns 5,530 shares of the company’s stock, valued at $223,190.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.80% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio purchased a new stake in shares of First Mid-Illinois Bancshares in the second quarter valued at about $137,000. First Manhattan Co. purchased a new stake in shares of First Mid-Illinois Bancshares in the second quarter valued at about $157,000. MetLife Investment Advisors LLC lifted its holdings in shares of First Mid-Illinois Bancshares by 37.2% in the second quarter. MetLife Investment Advisors LLC now owns 5,809 shares of the bank’s stock valued at $228,000 after purchasing an additional 1,574 shares in the last quarter. Mackay Shields LLC purchased a new stake in shares of First Mid-Illinois Bancshares in the second quarter valued at about $241,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of First Mid-Illinois Bancshares in the second quarter valued at about $245,000. 30.35% of the stock is currently owned by institutional investors.

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.

Further Reading: How Do You Calculate Return on Equity (ROE)?

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