First Mid-Illinois Bancshares (FMBH) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) from a sell rating to a hold rating in a report published on Wednesday.
According to Zacks, “First Mid-Illinois Bancshares, Inc. is a financial holding company. The Company is engaged in the business of banking through its wholly owned subsidiary, First Mid-Illinois Bank & Trust, N.A. It operates in three lines of business: community banking and wealth management through First Mid Bank, and insurance brokerage through First Mid Insurance Group. The company’s deposit products include demand, savings, money market, and time deposits, as well as NOW accounts. Its loan portfolio primarily comprise commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans. The company also offers estate planning, investment, and farm management services; and employee benefit services. In addition, it provides commercial lines insurance to businesses; and homeowner, automobile, and other types of personal lines insurance to individuals. First Mid-Illinois Bancshares, Inc is headquartered in Mattoon, Illinois. “
First Mid-Illinois Bancshares (FMBH) traded down $1.97 during trading hours on Wednesday, reaching $38.72. The company’s stock had a trading volume of 26,449 shares, compared to its average volume of 33,404. First Mid-Illinois Bancshares has a twelve month low of $28.37 and a twelve month high of $42.03. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $464.92, a price-to-earnings ratio of 16.76, a PEG ratio of 1.92 and a beta of 0.09.
First Mid-Illinois Bancshares (NASDAQ:FMBH) last released its quarterly earnings results on Thursday, October 26th. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. First Mid-Illinois Bancshares had a return on equity of 9.75% and a net margin of 22.67%. The business had revenue of $30.53 million during the quarter, compared to analyst estimates of $30.75 million. equities analysts anticipate that First Mid-Illinois Bancshares will post 2.35 earnings per share for the current year.
The business also recently declared a semiannual dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, December 1st were issued a dividend of $0.34 per share. This represents a yield of 1.63%. The ex-dividend date was Thursday, November 30th. This is a positive change from First Mid-Illinois Bancshares’s previous semiannual dividend of $0.32. First Mid-Illinois Bancshares’s payout ratio is currently 29.44%.
In other First Mid-Illinois Bancshares news, CEO Clay M. Dean sold 701 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $37.55, for a total transaction of $26,322.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 20.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in FMBH. State Street Corp lifted its position in shares of First Mid-Illinois Bancshares by 40.2% in the second quarter. State Street Corp now owns 153,658 shares of the bank’s stock valued at $5,264,000 after acquiring an additional 44,028 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of First Mid-Illinois Bancshares by 67.1% in the third quarter. Dimensional Fund Advisors LP now owns 61,408 shares of the bank’s stock valued at $2,358,000 after acquiring an additional 24,666 shares in the last quarter. Northern Trust Corp lifted its position in shares of First Mid-Illinois Bancshares by 27.1% in the second quarter. Northern Trust Corp now owns 105,507 shares of the bank’s stock valued at $3,612,000 after acquiring an additional 22,496 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of First Mid-Illinois Bancshares by 38.6% in the second quarter. Bank of New York Mellon Corp now owns 45,897 shares of the bank’s stock valued at $1,572,000 after acquiring an additional 12,786 shares in the last quarter. Finally, Rhumbline Advisers purchased a new position in shares of First Mid-Illinois Bancshares in the second quarter valued at about $370,000. Institutional investors and hedge funds own 20.39% of the company’s stock.
About First Mid-Illinois Bancshares
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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