Zacks Investment Research upgraded shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) from a sell rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.
According to Zacks, “First Mid-Illinois Bancshares, Inc. is a financial holding company. The Company is engaged in the business of banking through its wholly owned subsidiary, First Mid-Illinois Bank & Trust, N.A. It operates in three lines of business: community banking and wealth management through First Mid Bank, and insurance brokerage through First Mid Insurance Group. The company’s deposit products include demand, savings, money market, and time deposits, as well as NOW accounts. Its loan portfolio primarily comprise commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans. The company also offers estate planning, investment, and farm management services; and employee benefit services. In addition, it provides commercial lines insurance to businesses; and homeowner, automobile, and other types of personal lines insurance to individuals. First Mid-Illinois Bancshares, Inc is headquartered in Mattoon, Illinois. “
FMBH has been the topic of several other reports. ValuEngine raised First Mid-Illinois Bancshares from a sell rating to a hold rating in a report on Thursday, February 7th. BidaskClub lowered First Mid-Illinois Bancshares from a hold rating to a sell rating in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $44.33.
Shares of FMBH opened at $33.58 on Wednesday. The company has a market cap of $559.81 million, a PE ratio of 12.30, a PEG ratio of 1.26 and a beta of 0.43. First Mid-Illinois Bancshares has a 1 year low of $30.01 and a 1 year high of $42.46. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.87 and a current ratio of 0.87.
First Mid-Illinois Bancshares (NASDAQ:FMBH) last issued its quarterly earnings data on Thursday, January 24th. The bank reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.11). The firm had revenue of $42.65 million for the quarter, compared to analysts’ expectations of $42.07 million. First Mid-Illinois Bancshares had a return on equity of 9.85% and a net margin of 22.88%. As a group, equities analysts forecast that First Mid-Illinois Bancshares will post 2.97 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in FMBH. Federated Investors Inc. PA raised its holdings in First Mid-Illinois Bancshares by 134.9% during the 3rd quarter. Federated Investors Inc. PA now owns 1,010 shares of the bank’s stock valued at $40,000 after buying an additional 580 shares during the period. Legal & General Group Plc raised its holdings in First Mid-Illinois Bancshares by 17.4% during the 4th quarter. Legal & General Group Plc now owns 2,323 shares of the bank’s stock valued at $74,000 after buying an additional 344 shares during the period. Metropolitan Life Insurance Co. NY raised its holdings in First Mid-Illinois Bancshares by 377.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,285 shares of the bank’s stock valued at $137,000 after buying an additional 3,387 shares during the period. SG Americas Securities LLC purchased a new stake in First Mid-Illinois Bancshares during the 3rd quarter valued at $162,000. Finally, Capital Advisors Inc. OK purchased a new stake in First Mid-Illinois Bancshares during the 4th quarter valued at $215,000. Institutional investors own 28.45% of the company’s stock.
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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