Zacks: Brokerages Expect First Mid-Illinois Bancshares, Inc. (FMBH) Will Post Quarterly Sales of $31.00 Million

Wall Street analysts expect that First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) will report sales of $31.00 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for First Mid-Illinois Bancshares’ earnings, with the lowest sales estimate coming in at $30.00 million and the highest estimate coming in at $32.00 million. First Mid-Illinois Bancshares posted sales of $30.27 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.4%. The company is expected to announce its next quarterly earnings report on Wednesday, May 9th.

On average, analysts expect that First Mid-Illinois Bancshares will report full year sales of $31.00 million for the current fiscal year, with estimates ranging from $131.50 million to $138.30 million. For the next year, analysts anticipate that the company will post sales of $150.45 million per share, with estimates ranging from $146.50 million to $154.40 million. Zacks’ sales averages are an average based on a survey of research firms that cover First Mid-Illinois Bancshares.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.11). The business had revenue of $30.69 million during the quarter, compared to analysts’ expectations of $30.80 million. First Mid-Illinois Bancshares had a net margin of 20.54% and a return on equity of 9.33%.

FMBH has been the subject of a number of analyst reports. Zacks Investment Research downgraded First Mid-Illinois Bancshares from a “hold” rating to a “sell” rating in a report on Friday, November 3rd. BidaskClub downgraded First Mid-Illinois Bancshares from a “hold” rating to a “sell” rating in a report on Friday, January 26th. Finally, DA Davidson raised First Mid-Illinois Bancshares from a “neutral” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Friday, February 9th.

A number of large investors have recently added to or reduced their stakes in the business. Nationwide Fund Advisors lifted its holdings in First Mid-Illinois Bancshares by 27.2% during the 2nd quarter. Nationwide Fund Advisors now owns 5,690 shares of the bank’s stock worth $195,000 after buying an additional 1,217 shares during the last quarter. California State Teachers Retirement System lifted its holdings in First Mid-Illinois Bancshares by 11.9% during the 2nd quarter. California State Teachers Retirement System now owns 17,839 shares of the bank’s stock worth $611,000 after buying an additional 1,900 shares during the last quarter. Cornerstone Capital Management Holdings LLC. lifted its holdings in First Mid-Illinois Bancshares by 20.0% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 13,791 shares of the bank’s stock worth $528,000 after buying an additional 2,300 shares during the last quarter. Bessemer Group Inc. lifted its holdings in First Mid-Illinois Bancshares by 18.6% during the 4th quarter. Bessemer Group Inc. now owns 15,300 shares of the bank’s stock worth $590,000 after buying an additional 2,400 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in First Mid-Illinois Bancshares by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 77,358 shares of the bank’s stock worth $2,981,000 after buying an additional 2,536 shares during the last quarter. 22.64% of the stock is currently owned by institutional investors.

Shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) traded down $0.70 on Friday, reaching $35.02. The company had a trading volume of 14,045 shares, compared to its average volume of 18,960. The stock has a market capitalization of $452.24, a P/E ratio of 16.69, a P/E/G ratio of 1.45 and a beta of -0.04. First Mid-Illinois Bancshares has a 1 year low of $31.05 and a 1 year high of $42.03. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.83 and a quick ratio of 0.83.

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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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Earnings History and Estimates for First Mid-Illinois Bancshares (NASDAQ:FMBH)

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