First Mid-Illinois Bancshares (FMBH) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) from a hold rating to a sell rating in a research report report published on Thursday morning.

FMBH has been the subject of several other research reports. Zacks Investment Research raised shares of First Mid-Illinois Bancshares from a hold rating to a buy rating and set a $46.00 price objective for the company in a research report on Thursday, August 9th. Raymond James initiated 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 price objective for the company. Finally, DA Davidson increased their price objective 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $44.25.

Shares of NASDAQ:FMBH opened at $38.36 on Thursday. First Mid-Illinois Bancshares has a 52 week low of $30.01 and a 52 week high of $42.46. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $616.65 million, a price-to-earnings ratio of 17.13, a PEG 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 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $35.82 million during the quarter, compared to the consensus estimate of $34.50 million. On average, research analysts anticipate that First Mid-Illinois Bancshares will post 2.81 EPS for the current year.

In other news, COO Michael L. Taylor sold 2,500 shares of the stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $40.45, for a total transaction of $101,125.00. Following the completion of the sale, the chief operating officer now owns 11,433 shares of the company’s stock, valued at $462,464.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.80% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of First Mid-Illinois Bancshares by 23.0% during the second quarter. BlackRock Inc. now owns 603,780 shares of the bank’s stock worth $23,729,000 after acquiring an additional 112,981 shares in the last quarter. Maltese Capital Management LLC boosted its holdings in First Mid-Illinois Bancshares by 190.0% during the second quarter. Maltese Capital Management LLC now owns 226,262 shares of the bank’s stock worth $8,892,000 after purchasing an additional 148,252 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in First Mid-Illinois Bancshares by 35.8% during the second quarter. Dimensional Fund Advisors LP now owns 166,327 shares of the bank’s stock worth $6,537,000 after purchasing an additional 43,847 shares during the last quarter. Siena Capital Partners GP LLC boosted its holdings in First Mid-Illinois Bancshares by 149.4% during the second quarter. Siena Capital Partners GP LLC now owns 140,589 shares of the bank’s stock worth $5,525,000 after purchasing an additional 84,220 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in First Mid-Illinois Bancshares by 45.5% during the second quarter. Renaissance Technologies LLC now owns 140,113 shares of the bank’s stock worth $5,506,000 after purchasing an additional 43,813 shares during the last quarter. 30.35% of the stock is 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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