BidaskClub upgraded shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.
A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research raised shares of First Mid-Illinois Bancshares from a hold rating to a buy rating and set a $46.00 target price on the stock in a report on Thursday, August 9th. Raymond James initiated coverage on shares of First Mid-Illinois Bancshares in a report on Thursday, July 12th. They set an outperform rating and a $45.00 target price on the stock. Finally, ValuEngine lowered shares of First Mid-Illinois Bancshares from a hold rating to a sell rating in a report on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. First Mid-Illinois Bancshares has an average rating of Hold and an average target price of $43.50.
FMBH opened at $37.94 on Tuesday. First Mid-Illinois Bancshares has a fifty-two week low of $30.01 and a fifty-two week high of $42.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $562.70 million, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 1.43 and a beta of 0.09.
The company also recently disclosed a semiannual dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th will be paid a $0.36 dividend. This is a positive change from First Mid-Illinois Bancshares’s previous semiannual dividend of $0.34. This represents a dividend yield of 2.02%. The ex-dividend date of this dividend is Tuesday, November 6th. First Mid-Illinois Bancshares’s dividend payout ratio is currently 4.46%.
In other news, COO Michael L. Taylor sold 2,500 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $40.45, for a total value of $101,125.00. Following the sale, the chief operating officer now directly owns 11,433 shares of the company’s stock, valued at approximately $462,464.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 17.80% of the company’s stock.
Large investors have recently bought and sold shares of the company. Strs Ohio bought a new stake in shares of First Mid-Illinois Bancshares in the 2nd quarter valued at $137,000. First Manhattan Co. bought a new stake in shares of First Mid-Illinois Bancshares in the 2nd quarter valued at $157,000. MetLife Investment Advisors LLC boosted its stake in shares of 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 valued at $228,000 after purchasing an additional 1,574 shares during the last quarter. Mackay Shields LLC bought a new stake in shares of First Mid-Illinois Bancshares in the 2nd quarter valued at $241,000. Finally, Acadian Asset Management LLC bought a new stake in shares of First Mid-Illinois Bancshares in the 2nd quarter valued at $245,000. 30.15% of the stock is currently owned by institutional investors.
First Mid-Illinois Bancshares Company Profile
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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