$30.75 Million in Sales Expected for First Mid-Illinois Bancshares, Inc. (FMBH) This Quarter
Wall Street analysts forecast that First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) will post $30.75 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for First Mid-Illinois Bancshares’ earnings, with estimates ranging from $29.60 million to $31.90 million. The firm is expected to issue its next earnings report on Thursday, October 26th.
On average, analysts expect that First Mid-Illinois Bancshares will report full year sales of $30.75 million for the current year, with estimates ranging from $118.70 million to $128.10 million. For the next fiscal year, analysts forecast that the business will report sales of $128.35 million per share, with estimates ranging from $122.90 million to $133.80 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover First Mid-Illinois Bancshares.
First Mid-Illinois Bancshares (NASDAQ:FMBH) last issued its earnings results on Thursday, July 27th. The bank reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.10. The company had revenue of $31.92 million for the quarter, compared to the consensus estimate of $29.90 million. First Mid-Illinois Bancshares had a return on equity of 9.16% and a net margin of 22.04%.
A number of equities analysts have issued reports on FMBH shares. Zacks Investment Research downgraded First Mid-Illinois Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub downgraded First Mid-Illinois Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, 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 price target on the stock.
In other First Mid-Illinois Bancshares news, Director William S. Rowland sold 4,960 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $34.24, for a total transaction of $169,830.40. Following the transaction, the director now owns 48,407 shares in the company, valued at $1,657,455.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laurel G. Allenbaugh sold 780 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $34.99, for a total value of $27,292.20. Following the transaction, the insider now owns 2,674 shares in the company, valued at approximately $93,563.26. The disclosure for this sale can be found here. Insiders have sold 8,000 shares of company stock worth $274,790 in the last quarter. 20.30% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of FMBH. Wellington Management Group LLP boosted its position in First Mid-Illinois Bancshares by 55.4% during the first quarter. Wellington Management Group LLP now owns 590,440 shares of the bank’s stock worth $19,981,000 after purchasing an additional 210,458 shares in the last quarter. State Street Corp boosted its position in First Mid-Illinois Bancshares by 40.2% during the second quarter. State Street Corp now owns 153,658 shares of the bank’s stock worth $5,264,000 after purchasing an additional 44,028 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in First Mid-Illinois Bancshares during the first quarter worth approximately $903,000. Northern Trust Corp boosted its position in First Mid-Illinois Bancshares by 27.1% during the second quarter. Northern Trust Corp now owns 105,507 shares of the bank’s stock worth $3,612,000 after purchasing an additional 22,496 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in First Mid-Illinois Bancshares by 38.6% during the second quarter. Bank of New York Mellon Corp now owns 45,897 shares of the bank’s stock worth $1,572,000 after purchasing an additional 12,786 shares in the last quarter. Institutional investors own 20.11% of the company’s stock.
Shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) opened at 35.78 on Tuesday. First Mid-Illinois Bancshares has a 52 week low of $25.80 and a 52 week high of $37.78. The company’s 50-day moving average price is $35.00 and its 200 day moving average price is $34.26. The company has a market cap of $447.72 million, a P/E ratio of 16.15 and a beta of -0.06.
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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