First Mid-Illinois Bancshares (NASDAQ:FMBH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “First Mid-Illinois Bancshares, Inc. is a financial holding company. The Company is engaged in the business of banking through its wholly owned subsidiary, First Mid-Illinois Bank & Trust, N.A. It operates in three lines of business: community banking and wealth management through First Mid Bank, and insurance brokerage through First Mid Insurance Group. The company’s deposit products include demand, savings, money market, and time deposits, as well as NOW accounts. Its loan portfolio primarily comprise commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans. The company also offers estate planning, investment, and farm management services; and employee benefit services. In addition, it provides commercial lines insurance to businesses; and homeowner, automobile, and other types of personal lines insurance to individuals. First Mid-Illinois Bancshares, Inc is headquartered in Mattoon, Illinois. “
Several other research analysts have also recently weighed in on the stock. ValuEngine upgraded shares of First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. BidaskClub cut shares of First Mid-Illinois Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, January 25th. Finally, Raymond James dropped their price objective on shares of 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. First Mid-Illinois Bancshares presently has an average rating of “Buy” and an average target price of $43.50.
FMBH stock opened at $34.91 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.89 and a quick ratio of 0.89. First Mid-Illinois Bancshares has a fifty-two week low of $30.01 and a fifty-two week high of $42.46. The company has a market capitalization of $545.95 million, a P/E ratio of 12.79, a P/E/G ratio of 1.33 and a beta of 0.42.
First Mid-Illinois Bancshares (NASDAQ:FMBH) last posted its quarterly earnings data on Thursday, January 24th. The bank reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.11). First Mid-Illinois Bancshares had a return on equity of 10.48% and a net margin of 22.88%. The company had revenue of $42.65 million during the quarter, compared to the consensus estimate of $42.07 million. As a group, sell-side analysts forecast that First Mid-Illinois Bancshares will post 2.98 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the business. Federated Investors Inc. PA raised its position in shares of First Mid-Illinois Bancshares by 134.9% during the 3rd quarter. Federated Investors Inc. PA now owns 1,010 shares of the bank’s stock valued at $40,000 after acquiring an additional 580 shares during the last quarter. Legal & General Group Plc raised its position in shares of First Mid-Illinois Bancshares by 17.4% during the 4th quarter. Legal & General Group Plc now owns 2,323 shares of the bank’s stock valued at $74,000 after acquiring an additional 344 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of First Mid-Illinois Bancshares by 377.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,285 shares of the bank’s stock valued at $137,000 after acquiring an additional 3,387 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of First Mid-Illinois Bancshares during the 3rd quarter valued at $162,000. Finally, Alpine Woods Capital Investors LLC bought a new stake in shares of First Mid-Illinois Bancshares during the 3rd quarter valued at $202,000. Institutional investors own 30.69% 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.
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