First Mid-Illinois Bancshares, Inc. (FMBH) Receives Consensus Recommendation of “Buy” from Analysts
First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) has been assigned a consensus broker rating score of 2.33 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. First Mid-Illinois Bancshares’ rating score has declined by 133% from three months ago as a result of various analysts’ ratings changes.
Brokers have set a 1-year consensus price target of $37.00 for the company and are anticipating that the company will post $0.56 earnings per share for the current quarter, according to Zacks. Zacks has also assigned First Mid-Illinois Bancshares an industry rank of 85 out of 265 based on the ratings given to related companies.
Several equities research analysts recently commented on the company. Zacks Investment Research downgraded First Mid-Illinois Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, April 5th. DA Davidson started coverage on First Mid-Illinois Bancshares in a research note on Friday, June 9th. They set a “neutral” rating and a $37.00 price target for the company.
Shares of First Mid-Illinois Bancshares (NASDAQ FMBH) traded up 0.16% during mid-day trading on Thursday, reaching $37.01. 27,269 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $34.01 and a 200 day moving average of $33.12. First Mid-Illinois Bancshares has a one year low of $22.95 and a one year high of $37.60. The firm has a market capitalization of $462.18 million, a P/E ratio of 18.02 and a beta of -0.09.
The business also recently disclosed a semiannual dividend, which was paid on Thursday, June 8th. Stockholders of record on Thursday, June 1st were given a dividend of $0.32 per share. This is a boost from First Mid-Illinois Bancshares’s previous semiannual dividend of $0.16. This represents a dividend yield of 1.91%. The ex-dividend date of this dividend was Tuesday, May 30th.
In other news, Director Ray A. Sparks sold 7,921 shares of First Mid-Illinois Bancshares stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $36.84, for a total transaction of $291,809.64. Following the transaction, the director now directly owns 282,858 shares of the company’s stock, valued at approximately $10,420,488.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Christopher L. Slabach sold 1,000 shares of First Mid-Illinois Bancshares stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $34.70, for a total value of $34,700.00. Following the transaction, the senior vice president now directly owns 965 shares in the company, valued at $33,485.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,000 shares of company stock worth $638,322. Insiders own 20.30% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors boosted its position in First Mid-Illinois Bancshares by 33.3% in the first quarter. Nationwide Fund Advisors now owns 4,473 shares of the bank’s stock worth $151,000 after buying an additional 1,117 shares during the last quarter. American International Group Inc. boosted its position in First Mid-Illinois Bancshares by 38.8% in the first quarter. American International Group Inc. now owns 4,579 shares of the bank’s stock worth $155,000 after buying an additional 1,279 shares during the last quarter. SG Americas Securities LLC bought a new position in First Mid-Illinois Bancshares during the first quarter worth $161,000. Metropolitan Life Insurance Co. NY boosted its position in First Mid-Illinois Bancshares by 845.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,185 shares of the bank’s stock worth $210,000 after buying an additional 5,531 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in First Mid-Illinois Bancshares during the fourth quarter worth $219,000. 19.01% of the stock is currently owned by hedge funds and other 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).
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