First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) has earned a consensus broker rating score of 2.33 (Buy) from the three analysts that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. First Mid-Illinois Bancshares’ rating score has declined by 133% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a one year consensus price target of $37.00 for the company and are expecting that the company will post $0.56 earnings per share for the current quarter, according to Zacks. Zacks has also assigned First Mid-Illinois Bancshares an industry rank of 94 out of 265 based on the ratings given to its competitors.
FMBH has been the topic of several recent analyst reports. Zacks Investment Research lowered First Mid-Illinois Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, April 5th. DA Davidson started coverage on First Mid-Illinois Bancshares in a research report on Friday, June 9th. They set a “neutral” rating and a $37.00 target price on the stock.
In other First Mid-Illinois Bancshares news, CFO Michael L. Taylor sold 2,983 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $33.23, for a total value of $99,125.09. Following the completion of the transaction, the chief financial officer now owns 8,778 shares in the company, valued at approximately $291,692.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven L. Grissom sold 1,100 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $37.00, for a total value of $40,700.00. Following the completion of the transaction, the director now owns 69,796 shares of the company’s stock, valued at approximately $2,582,452. The disclosure for this sale can be found here. Insiders sold a total of 19,083 shares of company stock valued at $678,457 in the last 90 days. Corporate insiders own 20.30% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in First Mid-Illinois Bancshares during the fourth quarter valued at $219,000. State Street Corp increased its position in First Mid-Illinois Bancshares by 11.7% in the fourth quarter. State Street Corp now owns 107,428 shares of the bank’s stock valued at $3,652,000 after buying an additional 11,261 shares during the last quarter. Renaissance Technologies LLC increased its position in First Mid-Illinois Bancshares by 13.3% in the fourth quarter. Renaissance Technologies LLC now owns 70,600 shares of the bank’s stock valued at $2,400,000 after buying an additional 8,300 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in First Mid-Illinois Bancshares by 845.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,185 shares of the bank’s stock valued at $210,000 after buying an additional 5,531 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in First Mid-Illinois Bancshares by 31.3% in the fourth quarter. Teachers Advisors LLC now owns 12,241 shares of the bank’s stock valued at $416,000 after buying an additional 2,916 shares during the last quarter. Institutional investors own 19.01% of the company’s stock.
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Shares of First Mid-Illinois Bancshares (NASDAQ FMBH) traded up 0.99% during mid-day trading on Wednesday, hitting $35.83. 13,861 shares of the company were exchanged. The company has a market capitalization of $447.45 million, a price-to-earnings ratio of 17.44 and a beta of -0.09. First Mid-Illinois Bancshares has a 12-month low of $22.95 and a 12-month high of $37.78. The firm has a 50 day moving average of $34.43 and a 200 day moving average of $33.40.
About First Mid-Illinois Bancshares
First Mid-Illinois Bancshares, Inc is a financial holding company. The Company is engaged in the business of banking through its subsidiaries, First Mid-Illinois Bank & Trust, N.A. (First Mid Bank) and First Clover Leaf Bank, N.A. (First Clover Leaf Bank). The Company provides data processing services to affiliates through another subsidiary, Mid-Illinois Data Services, Inc (MIDS).
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