Zacks: First Mid-Illinois Bancshares, Inc. (FMBH) Given $39.50 Consensus Price Target by Brokerages
Shares of First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) have received 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 recommendation and one has issued a strong buy recommendation on the company.
Brokers have set a 1-year consensus price objective of $39.50 for the company and are expecting that the company will post $0.60 EPS for the current quarter, according to Zacks. Zacks has also given First Mid-Illinois Bancshares an industry rank of 162 out of 265 based on the ratings given to related companies.
Several equities analysts recently commented on the company. Zacks Investment Research lowered First Mid-Illinois Bancshares from a “hold” rating to a “sell” rating in a research note on Friday. BidaskClub upgraded First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd.
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In other First Mid-Illinois Bancshares news, Director William S. Rowland sold 4,960 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $34.24, for a total transaction of $169,830.40. Following the completion of the sale, the director now directly owns 48,407 shares in the company, valued at $1,657,455.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Laurel G. Allenbaugh sold 960 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $34.35, for a total value of $32,976.00. Following the sale, the insider now owns 3,062 shares of the company’s stock, valued at $105,179.70. The disclosure for this sale can be found here. Insiders have sold 8,000 shares of company stock valued at $274,790 over the last 90 days. 20.30% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in FMBH. Nationwide Fund Advisors increased its stake in First Mid-Illinois Bancshares by 33.3% during the first quarter. Nationwide Fund Advisors now owns 4,473 shares of the bank’s stock worth $151,000 after acquiring an additional 1,117 shares during the last quarter. Bank of New York Mellon Corp increased its stake in First Mid-Illinois Bancshares by 7.9% during the first quarter. Bank of New York Mellon Corp now owns 33,111 shares of the bank’s stock worth $1,120,000 after acquiring an additional 2,427 shares during the last quarter. SG Americas Securities LLC acquired a new stake in First Mid-Illinois Bancshares during the first quarter worth about $161,000. American International Group Inc. increased its stake in First Mid-Illinois Bancshares by 38.8% during the first quarter. American International Group Inc. now owns 4,579 shares of the bank’s stock worth $155,000 after acquiring an additional 1,279 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in First Mid-Illinois Bancshares by 2.1% during the first quarter. Vanguard Group Inc. now owns 265,907 shares of the bank’s stock worth $8,998,000 after acquiring an additional 5,445 shares during the last quarter. Institutional investors own 19.73% of the company’s stock.
First Mid-Illinois Bancshares (NASDAQ:FMBH) traded down $0.42 during trading on Friday, reaching $38.51. The company had a trading volume of 27,249 shares, compared to its average volume of 27,292. The firm has a market capitalization of $481.91, a price-to-earnings ratio of 16.60, a P/E/G ratio of 1.85 and a beta of 0.09. First Mid-Illinois Bancshares has a 52-week low of $26.28 and a 52-week high of $42.03. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.78 and a quick ratio of 0.78.
First Mid-Illinois Bancshares (NASDAQ:FMBH) last released its earnings results on Thursday, October 26th. The bank reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The firm had revenue of $30.53 million during the quarter, compared to analyst estimates of $30.75 million. First Mid-Illinois Bancshares had a return on equity of 9.92% and a net margin of 22.67%. equities research analysts forecast that First Mid-Illinois Bancshares will post 2.32 EPS for the current fiscal year.
The company also recently declared a semiannual dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 30th. This is a positive change from First Mid-Illinois Bancshares’s previous semiannual dividend of $0.32. This represents a yield of 1.63%. First Mid-Illinois Bancshares’s dividend payout ratio is currently 27.71%.
First Mid-Illinois Bancshares Company Profile
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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