First Mid-Illinois Bancshares (FMBH) Upgraded to Hold by BidaskClub

First Mid-Illinois Bancshares (NASDAQ:FMBH) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Other research analysts have also issued research reports about the company. Zacks Investment Research upgraded First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, January 8th. ValuEngine upgraded First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 4th. Finally, Raymond James decreased their price objective on First Mid-Illinois Bancshares from $45.00 to $42.00 and set an “outperform” rating on the stock in a report on Tuesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $43.50.

Shares of FMBH stock opened at $34.44 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $523.26 million, a price-to-earnings ratio of 12.62, a PEG ratio of 1.26 and a beta of 0.42. First Mid-Illinois Bancshares has a fifty-two week low of $30.01 and a fifty-two week high of $42.46.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last announced its quarterly earnings data on Thursday, January 24th. The bank reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.11). The firm had revenue of $42.65 million during the quarter, compared to analysts’ expectations of $42.07 million. First Mid-Illinois Bancshares had a net margin of 22.88% and a return on equity of 10.48%. Sell-side analysts expect that First Mid-Illinois Bancshares will post 3.01 EPS for the current year.

In other news, CEO Clay M. Dean acquired 2,821 shares of the firm’s stock in a transaction on Friday, November 23rd. The shares were bought at an average price of $35.45 per share, for a total transaction of $100,004.45. Following the acquisition, the chief executive officer now owns 1,000 shares of the company’s stock, valued at approximately $35,450. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 17.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in FMBH. The Manufacturers Life Insurance Company increased its stake in shares of First Mid-Illinois Bancshares by 49.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 140,082 shares of the bank’s stock worth $5,650,000 after acquiring an additional 46,304 shares during the last quarter. Maltese Capital Management LLC increased its stake in shares of First Mid-Illinois Bancshares by 20.4% in the 3rd quarter. Maltese Capital Management LLC now owns 272,492 shares of the bank’s stock worth $10,990,000 after acquiring an additional 46,230 shares during the last quarter. BlackRock Inc. increased its stake in shares of First Mid-Illinois Bancshares by 23.0% in the 2nd quarter. BlackRock Inc. now owns 603,780 shares of the bank’s stock worth $23,729,000 after acquiring an additional 112,981 shares during the last quarter. Thomson Horstmann & Bryant Inc. increased its stake in shares of First Mid-Illinois Bancshares by 34.4% in the 3rd quarter. Thomson Horstmann & Bryant Inc. now owns 115,252 shares of the bank’s stock worth $4,648,000 after acquiring an additional 29,510 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of First Mid-Illinois Bancshares by 5.7% in the 3rd quarter. Renaissance Technologies LLC now owns 148,100 shares of the bank’s stock worth $5,973,000 after acquiring an additional 7,987 shares during the last quarter. Institutional investors own 30.49% of the company’s stock.

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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