First Mid-Illinois Bancshares (NASDAQ:FMBH) Lifted to Sell at BidaskClub

BidaskClub upgraded shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) from a strong sell rating to a sell rating in a report published on Thursday, BidAskClub reports.

A number of other research analysts have also recently weighed in on FMBH. Raymond James cut shares of First Mid-Illinois Bancshares from a strong-buy rating to a market perform rating in a report on Wednesday, June 17th. Zacks Investment Research cut shares of First Mid-Illinois Bancshares from a hold rating to a sell rating in a report on Friday, May 29th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. First Mid-Illinois Bancshares has an average rating of Sell and an average target price of $36.00.

NASDAQ:FMBH opened at $25.43 on Thursday. First Mid-Illinois Bancshares has a 12 month low of $18.60 and a 12 month high of $36.25. The firm has a fifty day simple moving average of $26.11 and a 200-day simple moving average of $25.10. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $433.76 million, a P/E ratio of 9.71 and a beta of 0.81.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last issued its earnings results on Thursday, July 30th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.15. First Mid-Illinois Bancshares had a net margin of 21.61% and a return on equity of 8.22%. The firm had revenue of $45.47 million during the quarter, compared to analysts’ expectations of $44.03 million. Equities analysts forecast that First Mid-Illinois Bancshares will post 2.58 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of FMBH. BlackRock Inc. boosted its holdings in First Mid-Illinois Bancshares by 3.1% in the 1st quarter. BlackRock Inc. now owns 934,799 shares of the bank’s stock valued at $22,193,000 after purchasing an additional 27,959 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of First Mid-Illinois Bancshares in the 1st quarter valued at approximately $120,000. Aperio Group LLC purchased a new stake in shares of First Mid-Illinois Bancshares in the 1st quarter valued at approximately $260,000. Rhumbline Advisers raised its stake in shares of First Mid-Illinois Bancshares by 17.0% in the 1st quarter. Rhumbline Advisers now owns 24,932 shares of the bank’s stock valued at $592,000 after acquiring an additional 3,625 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of First Mid-Illinois Bancshares by 272.8% in the 1st quarter. Russell Investments Group Ltd. now owns 14,310 shares of the bank’s stock valued at $339,000 after acquiring an additional 10,471 shares during the period. Hedge funds and other institutional investors own 34.41% of the company’s stock.

First Mid-Illinois Bancshares Company Profile

First Mid Bancshares, Inc, through its subsidiaries, provides community banking products and services to commercial, retail, and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits, and time deposits. The company's loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.

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