Shares of First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) have received an average broker rating score of 2.33 (Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. First Mid-Illinois Bancshares’ rating score has declined by 133% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 12-month consensus target price of $38.50 for the company and are predicting that the company will post $0.61 EPS for the current quarter, according to Zacks. Zacks has also assigned First Mid-Illinois Bancshares an industry rank of 96 out of 265 based on the ratings given to related companies.
Several equities analysts recently commented on the stock. BidaskClub lowered shares of First Mid-Illinois Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of First Mid-Illinois Bancshares from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Tuesday, May 2nd. Finally, DA Davidson assumed coverage on shares of First Mid-Illinois Bancshares in a research report on Friday, June 9th. They issued a “neutral” rating and a $37.00 price objective for the company.
Shares of First Mid-Illinois Bancshares (NASDAQ FMBH) opened at 35.39 on Friday. First Mid-Illinois Bancshares has a 12-month low of $22.95 and a 12-month high of $37.78. The firm has a market cap of $442.55 million, a P/E ratio of 16.48 and a beta of -0.10. The company has a 50-day moving average of $35.29 and a 200 day moving average of $33.53.
First Mid-Illinois Bancshares (NASDAQ:FMBH) last issued its quarterly earnings results on Thursday, July 27th. The bank reported $0.66 EPS for the quarter, topping the consensus estimate of $0.56 by $0.10. First Mid-Illinois Bancshares had a net margin of 20.70% and a return on equity of 8.79%. The firm had revenue of $31.92 million during the quarter, compared to analyst estimates of $29.90 million. Equities research analysts anticipate that First Mid-Illinois Bancshares will post $2.25 earnings per share for the current fiscal year.
In other news, SVP Christopher L. Slabach sold 1,000 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $34.70, for a total value of $34,700.00. Following the completion of the sale, the senior vice president now owns 965 shares of the company’s stock, valued at $33,485.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ray A. Sparks sold 7,921 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $36.84, for a total transaction of $291,809.64. Following the completion of the sale, the director now directly owns 282,858 shares of the company’s stock, valued at approximately $10,420,488.72. The disclosure for this sale can be found here. Insiders sold 19,083 shares of company stock valued at $678,457 in the last three months. Company insiders own 20.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in FMBH. Goldman Sachs Group Inc. acquired a new stake in First Mid-Illinois Bancshares during the first quarter valued at about $903,000. Dimensional Fund Advisors LP raised its stake in First Mid-Illinois Bancshares by 46.5% in the first quarter. Dimensional Fund Advisors LP now owns 29,605 shares of the bank’s stock valued at $1,002,000 after buying an additional 9,395 shares during the last quarter. Geode Capital Management LLC raised its stake in First Mid-Illinois Bancshares by 5.9% in the first quarter. Geode Capital Management LLC now owns 66,257 shares of the bank’s stock valued at $2,242,000 after buying an additional 3,701 shares during the last quarter. Vanguard Group Inc. raised its stake in First Mid-Illinois Bancshares by 2.1% in the first quarter. Vanguard Group Inc. now owns 265,907 shares of the bank’s stock valued at $8,998,000 after buying an additional 5,445 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in First Mid-Illinois Bancshares by 55.4% in the first quarter. Wellington Management Group LLP now owns 590,440 shares of the bank’s stock valued at $19,981,000 after buying an additional 210,458 shares during the last quarter. 18.98% of the stock is owned by institutional investors.
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).
Get a free copy of the Zacks research report on First Mid-Illinois Bancshares (FMBH)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for First Mid-Illinois Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Mid-Illinois Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
