First Mid-Illinois Bancshares (FMBH) Cut to Sell at ValuEngine

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

Several other analysts also recently weighed in on FMBH. Raymond James cut their price objective on shares of First Mid-Illinois Bancshares from $45.00 to $42.00 and set an outperform rating on the stock in a research report on Tuesday, October 30th. BidaskClub upgraded shares of First Mid-Illinois Bancshares from a sell rating to a hold rating in a research report on Thursday, September 27th. Finally, Zacks Investment Research downgraded shares of First Mid-Illinois Bancshares from a buy rating to a hold rating in a research report on Friday, November 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. First Mid-Illinois Bancshares has a consensus rating of Hold and a consensus target price of $43.50.

Shares of NASDAQ FMBH traded down $0.62 during midday trading on Tuesday, hitting $37.16. The company’s stock had a trading volume of 2,796 shares, compared to its average volume of 33,438. 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 0.30, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $573.10 million, a PE ratio of 16.59, a price-to-earnings-growth ratio of 1.45 and a beta of 0.23.

The company also recently disclosed a semiannual dividend, which will be paid on Wednesday, November 14th. Investors of record on Wednesday, November 7th will be given a $0.36 dividend. The ex-dividend date is Tuesday, November 6th. This is an increase from First Mid-Illinois Bancshares’s previous semiannual dividend of $0.34. This represents a yield of 2.02%. First Mid-Illinois Bancshares’s dividend payout ratio (DPR) is currently 32.14%.

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of First Mid-Illinois Bancshares by 23.0% during the 2nd quarter. BlackRock Inc. now owns 603,780 shares of the bank’s stock worth $23,729,000 after buying an additional 112,981 shares in the last quarter. Maltese Capital Management LLC raised its position in shares of First Mid-Illinois Bancshares by 190.0% during the 2nd quarter. Maltese Capital Management LLC now owns 226,262 shares of the bank’s stock worth $8,892,000 after buying an additional 148,252 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of First Mid-Illinois Bancshares by 35.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 166,327 shares of the bank’s stock worth $6,537,000 after buying an additional 43,847 shares in the last quarter. Siena Capital Partners GP LLC raised its position in shares of First Mid-Illinois Bancshares by 149.4% during the 2nd quarter. Siena Capital Partners GP LLC now owns 140,589 shares of the bank’s stock worth $5,525,000 after buying an additional 84,220 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of First Mid-Illinois Bancshares by 45.5% during the 2nd quarter. Renaissance Technologies LLC now owns 140,113 shares of the bank’s stock worth $5,506,000 after buying an additional 43,813 shares in the last quarter. Institutional investors own 30.19% 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.

Featured Article: Market Capitalization in the Stock Market

To view ValuEngine’s full report, visit ValuEngine’s official website.

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