Castine Capital Management LLC raised its holdings in First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) by 13.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 127,965 shares of the bank’s stock after acquiring an additional 14,803 shares during the period. Castine Capital Management LLC’s holdings in First Mid-Illinois Bancshares were worth $4,263,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in FMBH. Cetera Advisor Networks LLC acquired a new stake in First Mid-Illinois Bancshares in the 1st quarter valued at about $1,892,000. Morgan Stanley increased its holdings in shares of First Mid-Illinois Bancshares by 198.0% during the 3rd quarter. Morgan Stanley now owns 85,105 shares of the bank’s stock worth $3,433,000 after buying an additional 56,549 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of First Mid-Illinois Bancshares by 19.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 240,294 shares of the bank’s stock worth $7,670,000 after buying an additional 39,352 shares during the last quarter. BlackRock Inc. increased its holdings in shares of First Mid-Illinois Bancshares by 5.7% during the 4th quarter. BlackRock Inc. now owns 662,447 shares of the bank’s stock worth $21,146,000 after buying an additional 35,547 shares during the last quarter. Finally, Koshinski Asset Management Inc. increased its holdings in shares of First Mid-Illinois Bancshares by 47.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 96,420 shares of the bank’s stock worth $3,078,000 after buying an additional 31,225 shares during the last quarter. Institutional investors own 28.98% of the company’s stock.
Shares of NASDAQ FMBH traded up $0.21 during midday trading on Friday, reaching $33.99. 20,317 shares of the stock were exchanged, compared to its average volume of 23,044. The company has a market capitalization of $566.65 million, a P/E ratio of 11.76, a P/E/G ratio of 1.25 and a beta of 0.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.88 and a quick ratio of 0.88. First Mid-Illinois Bancshares, Inc. has a twelve month low of $30.49 and a twelve month high of $42.46.
First Mid-Illinois Bancshares (NASDAQ:FMBH) last announced its quarterly earnings results on Wednesday, April 24th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.08. The business had revenue of $46.89 million during the quarter, compared to the consensus estimate of $45.97 million. First Mid-Illinois Bancshares had a net margin of 23.07% and a return on equity of 9.92%. As a group, research analysts expect that First Mid-Illinois Bancshares, Inc. will post 3.01 EPS for the current year.
The company also recently declared a semiannual dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.36 per share. The ex-dividend date was Friday, May 31st. This represents a dividend yield of 2.08%. First Mid-Illinois Bancshares’s dividend payout ratio is currently 26.37%.
FMBH has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. BidaskClub downgraded shares of First Mid-Illinois Bancshares from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Finally, ValuEngine downgraded shares of First Mid-Illinois Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $43.00.
First Mid-Illinois Bancshares 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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