First Mid-Illinois Bancshares (FMBH) Downgraded to “Sell” at ValuEngine

ValuEngine downgraded shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

FMBH has been the subject of several other research reports. Zacks Investment Research upgraded shares of First Mid-Illinois Bancshares from a sell rating to a hold rating in a research note on Tuesday. BidaskClub downgraded First Mid-Illinois Bancshares from a hold rating to a sell rating in a research report on Monday, December 31st. Finally, Raymond James decreased their target price on First Mid-Illinois Bancshares from $45.00 to $42.00 and set an outperform rating for the company in a research report on Tuesday, October 30th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. First Mid-Illinois Bancshares presently has an average rating of Hold and a consensus target price of $43.50.

NASDAQ FMBH traded down $0.33 during trading hours on Thursday, reaching $33.10. 9,543 shares of the company were exchanged, compared to its average volume of 24,526. 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 0.36, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $513.69 million, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.21 and a beta of 0.45.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last posted its quarterly earnings data on Thursday, October 25th. The bank reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. First Mid-Illinois Bancshares had a net margin of 21.57% and a return on equity of 9.91%. The business had revenue of $38.01 million during the quarter, compared to the consensus estimate of $36.67 million. As a group, analysts forecast that First Mid-Illinois Bancshares will post 2.86 EPS for the current fiscal year.

In other First Mid-Illinois Bancshares news, CEO Clay M. Dean bought 2,821 shares of First Mid-Illinois Bancshares stock in a transaction dated Friday, November 23rd. The stock was purchased at an average price of $35.45 per share, for a total transaction of $100,004.45. Following the completion of the purchase, the chief executive officer now directly owns 1,000 shares of the company’s stock, valued at $35,450. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 17.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in FMBH. Federated Investors Inc. PA grew its position in shares of First Mid-Illinois Bancshares by 134.9% in the third quarter. Federated Investors Inc. PA now owns 1,010 shares of the bank’s stock valued at $40,000 after purchasing an additional 580 shares in the last quarter. Strs Ohio purchased a new position in First Mid-Illinois Bancshares during the 2nd quarter valued at about $137,000. SG Americas Securities LLC purchased a new position in First Mid-Illinois Bancshares during the third quarter valued at approximately $162,000. Alpine Woods Capital Investors LLC purchased a new position in First Mid-Illinois Bancshares during the third quarter valued at approximately $202,000. Finally, MetLife Investment Advisors LLC grew its stake in First Mid-Illinois Bancshares by 37.2% during the second quarter. MetLife Investment Advisors LLC now owns 5,809 shares of the bank’s stock valued at $228,000 after acquiring an additional 1,574 shares in the last quarter. Institutional investors own 30.41% 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.

See Also: What is Cost of Debt?

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