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

First Mid-Illinois Bancshares (NASDAQ:FMBH) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Separately, Zacks Investment Research upgraded First Mid-Illinois Bancshares from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday, January 16th.

Shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) traded up $0.37 during trading on Friday, hitting $38.36. The stock had a trading volume of 12,940 shares, compared to its average volume of 15,378. First Mid-Illinois Bancshares has a fifty-two week low of $29.18 and a fifty-two week high of $42.03. The stock has a market capitalization of $480.98, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 1.55 and a beta of -0.01. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.36.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last announced its quarterly earnings data 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. First Mid-Illinois Bancshares had a return on equity of 9.33% and a net margin of 20.54%. The business had revenue of $30.53 million for the quarter, compared to the consensus estimate of $30.75 million. analysts forecast that First Mid-Illinois Bancshares will post 2.72 earnings per share for the current year.

In related news, CEO Clay M. Dean sold 701 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $37.55, for a total value of $26,322.55. The transaction was disclosed in a filing with the SEC, which is available through this link. 20.30% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of FMBH. Siena Capital Partners GP LLC bought a new position in First Mid-Illinois Bancshares in the fourth quarter worth approximately $2,172,000. Bowling Portfolio Management LLC bought a new position in First Mid-Illinois Bancshares in the fourth quarter worth approximately $1,775,000. State Street Corp grew its stake in First Mid-Illinois Bancshares by 40.2% in 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. Dimensional Fund Advisors LP grew its stake in First Mid-Illinois Bancshares by 67.1% in the third quarter. Dimensional Fund Advisors LP now owns 61,408 shares of the bank’s stock worth $2,358,000 after purchasing an additional 24,666 shares in the last quarter. Finally, Northern Trust Corp grew its stake in First Mid-Illinois Bancshares by 27.1% in 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. Institutional investors and hedge funds own 20.81% of the company’s stock.

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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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