Zacks: First Mid-Illinois Bancshares, Inc. (FMBH) Given $43.00 Average Price Target by Analysts

Shares of First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) have been assigned an average broker rating score of 1.67 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company. First Mid-Illinois Bancshares’ rating score has improved by 28.3% from three months ago as a result of various analysts’ upgrades and downgrades.

Brokerages have set a twelve-month consensus target price of $43.00 for the company and are expecting that the company will post $0.65 earnings per share for the current quarter, according to Zacks. Zacks has also assigned First Mid-Illinois Bancshares an industry rank of 23 out of 265 based on the ratings given to related companies.

A number of analysts have recently issued reports on the company. BidaskClub upgraded First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday. DA Davidson upgraded First Mid-Illinois Bancshares from a “neutral” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Friday, February 9th. Finally, Zacks Investment Research cut First Mid-Illinois Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, November 3rd.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nationwide Fund Advisors increased its position in shares of First Mid-Illinois Bancshares by 27.2% during the second quarter. Nationwide Fund Advisors now owns 5,690 shares of the bank’s stock valued at $195,000 after purchasing an additional 1,217 shares during the period. Voya Investment Management LLC bought a new stake in shares of First Mid-Illinois Bancshares during the second quarter valued at approximately $201,000. Citadel Advisors LLC bought a new stake in shares of First Mid-Illinois Bancshares during the fourth quarter valued at approximately $236,000. First Trust Advisors LP bought a new stake in shares of First Mid-Illinois Bancshares during the third quarter valued at approximately $273,000. Finally, SG Americas Securities LLC bought a new stake in shares of First Mid-Illinois Bancshares during the third quarter valued at approximately $331,000. Institutional investors and hedge funds own 21.32% of the company’s stock.

First Mid-Illinois Bancshares (FMBH) opened at $35.22 on Wednesday. The company has a market capitalization of $444.14, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 1.43 and a beta of -0.04. 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 has a 1 year low of $31.05 and a 1 year high of $42.03.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last released its quarterly earnings data on Thursday, January 25th. The bank reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.11). The firm had revenue of $30.69 million for the quarter, compared to the consensus estimate of $30.80 million. First Mid-Illinois Bancshares had a net margin of 20.54% and a return on equity of 9.33%. equities analysts anticipate that First Mid-Illinois Bancshares will post 2.73 earnings per share for the current year.

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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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