$43.72 Million in Sales Expected for First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) This Quarter
Brokerages expect First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) to announce sales of $43.72 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for First Mid-Illinois Bancshares’ earnings, with estimates ranging from $43.53 million to $43.90 million. First Mid-Illinois Bancshares posted sales of $42.65 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.5%. The business is expected to announce its next earnings results on Thursday, January 23rd.
On average, analysts expect that First Mid-Illinois Bancshares will report full year sales of $179.23 million for the current fiscal year, with estimates ranging from $179.05 million to $179.40 million. For the next year, analysts forecast that the company will report sales of $178.37 million, with estimates ranging from $177.40 million to $179.33 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for First Mid-Illinois Bancshares.
First Mid-Illinois Bancshares (NASDAQ:FMBH) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). First Mid-Illinois Bancshares had a net margin of 22.75% and a return on equity of 9.16%. The firm had revenue of $44.04 million during the quarter, compared to the consensus estimate of $44.55 million.
Shares of NASDAQ:FMBH traded up $0.46 during trading on Tuesday, reaching $34.96. The stock had a trading volume of 35,800 shares, compared to its average volume of 16,669. First Mid-Illinois Bancshares has a one year low of $30.20 and a one year high of $36.45. The company has a market capitalization of $574.95 million, a P/E ratio of 12.41 and a beta of 0.50. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. The firm’s 50-day simple moving average is $35.09 and its 200 day simple moving average is $33.94.
The business also recently disclosed a Semi-Annual dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.40 dividend. This is a positive change from First Mid-Illinois Bancshares’s previous Semi-Annual dividend of $0.05. This represents a dividend yield of 2.1%. The ex-dividend date is Wednesday, November 27th. First Mid-Illinois Bancshares’s dividend payout ratio (DPR) is presently 29.30%.
Several institutional investors have recently made changes to their positions in the stock. GW&K Investment Management LLC acquired a new stake in shares of First Mid-Illinois Bancshares in the second quarter valued at approximately $4,766,000. BlackRock Inc. raised its holdings in shares of First Mid-Illinois Bancshares by 13.8% during the 2nd quarter. BlackRock Inc. now owns 760,095 shares of the bank’s stock valued at $26,542,000 after buying an additional 92,276 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of First Mid-Illinois Bancshares during the 2nd quarter valued at about $1,789,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of First Mid-Illinois Bancshares during the 3rd quarter valued at about $1,693,000. Finally, Vanguard Group Inc. raised its holdings in shares of First Mid-Illinois Bancshares by 6.9% during the 2nd quarter. Vanguard Group Inc. now owns 551,437 shares of the bank’s stock valued at $19,256,000 after buying an additional 35,702 shares during the period. 31.68% of the stock is owned by hedge funds and other institutional investors.
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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