Wall Street brokerages forecast that First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) will post $46.15 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for First Mid-Illinois Bancshares’ earnings. The lowest sales estimate is $45.30 million and the highest is $47.30 million. First Mid-Illinois Bancshares posted sales of $46.89 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.6%. The firm is scheduled to report its next quarterly earnings results on Wednesday, April 22nd.
According to Zacks, analysts expect that First Mid-Illinois Bancshares will report full-year sales of $179.17 million for the current year, with estimates ranging from $176.20 million to $182.00 million. For the next financial year, analysts forecast that the firm will post sales of $183.02 million, with estimates ranging from $176.97 million to $187.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover First Mid-Illinois Bancshares.
First Mid-Illinois Bancshares (NASDAQ:FMBH) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.03. First Mid-Illinois Bancshares had a net margin of 23.30% and a return on equity of 9.33%. The company had revenue of $45.86 million during the quarter, compared to the consensus estimate of $44.00 million.
FMBH has been the subject of several analyst reports. Zacks Investment Research downgraded shares of First Mid-Illinois Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. BidaskClub downgraded shares of First Mid-Illinois Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, March 7th. Finally, DA Davidson downgraded shares of First Mid-Illinois Bancshares from a “buy” rating to a “neutral” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $38.33.
In other First Mid-Illinois Bancshares news, Director Ray A. Sparks sold 814 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $35.00, for a total value of $28,490.00. Following the completion of the sale, the director now owns 218,644 shares in the company, valued at approximately $7,652,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ray A. Sparks sold 5,176 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $35.06, for a total transaction of $181,470.56. Following the completion of the sale, the director now owns 222,104 shares of the company’s stock, valued at approximately $7,786,966.24. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp increased its position in First Mid-Illinois Bancshares by 5.4% in the 4th quarter. State Street Corp now owns 318,966 shares of the bank’s stock valued at $11,244,000 after acquiring an additional 16,373 shares in the last quarter. Geode Capital Management LLC grew its position in shares of First Mid-Illinois Bancshares by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 186,308 shares of the bank’s stock worth $6,567,000 after buying an additional 7,427 shares during the period. Bank of New York Mellon Corp grew its position in shares of First Mid-Illinois Bancshares by 38.3% during the 4th quarter. Bank of New York Mellon Corp now owns 106,911 shares of the bank’s stock worth $3,768,000 after buying an additional 29,583 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in shares of First Mid-Illinois Bancshares by 148.1% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 100,508 shares of the bank’s stock worth $3,543,000 after buying an additional 60,000 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of First Mid-Illinois Bancshares by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 85,586 shares of the bank’s stock worth $3,017,000 after buying an additional 1,659 shares during the period. Hedge funds and other institutional investors own 32.84% of the company’s stock.
Shares of FMBH stock opened at $22.11 on Thursday. First Mid-Illinois Bancshares has a 12-month low of $18.60 and a 12-month high of $36.45. The company has a market capitalization of $332.80 million, a P/E ratio of 7.68 and a beta of 0.70. The firm has a 50-day moving average price of $28.11 and a 200 day moving average price of $33.08. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.28.
About First Mid-Illinois Bancshares
First Mid Bancshares, Inc, through its subsidiaries, provides community banking products and services to commercial, retail, and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits, and time deposits. The company's loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.
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