First Mid-Illinois Bancshares (FMBH) Cut to Sell at BidaskClub

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BidaskClub downgraded shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) from a hold rating to a sell rating in a research report report published on Friday.

FMBH has been the topic of a number of other reports. Zacks Investment Research raised First Mid-Illinois Bancshares from a sell rating to a hold rating in a report on Thursday, January 24th. ValuEngine lowered First Mid-Illinois Bancshares from a hold rating to a sell rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $43.50.

NASDAQ FMBH traded down $1.16 on Friday, reaching $31.65. The stock had a trading volume of 37,979 shares, compared to its average volume of 17,824. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.87 and a quick ratio of 0.87. First Mid-Illinois Bancshares has a 1-year low of $30.01 and a 1-year high of $42.46. The firm has a market cap of $546.99 million, a price-to-earnings ratio of 11.59, a P/E/G ratio of 1.22 and a beta of 0.44.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last issued its quarterly earnings data on Thursday, January 24th. The bank reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.11). First Mid-Illinois Bancshares had a net margin of 22.88% and a return on equity of 9.85%. The firm had revenue of $42.65 million during the quarter, compared to analyst estimates of $42.07 million. On average, equities analysts anticipate that First Mid-Illinois Bancshares will post 2.98 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of First Mid-Illinois Bancshares by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 129,497 shares of the bank’s stock valued at $4,133,000 after acquiring an additional 8,951 shares during the period. Dimensional Fund Advisors LP lifted its position 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 valued at $7,670,000 after acquiring an additional 39,352 shares during the period. Legal & General Group Plc lifted 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 period. Thrivent Financial for Lutherans lifted its position in shares of First Mid-Illinois Bancshares by 8.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 7,397 shares of the bank’s stock valued at $236,000 after acquiring an additional 563 shares during the period. Finally, Metropolitan Life Insurance Co. NY lifted 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 period. Hedge funds and other institutional investors own 28.45% of the company’s stock.

First Mid-Illinois Bancshares Company Profile

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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