BidaskClub cut shares of First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) from a hold rating to a sell rating in a research note published on Tuesday morning.

A number of other brokerages also recently commented on FMBH. Zacks Investment Research downgraded First Mid-Illinois Bancshares from a strong-buy rating to a hold rating in a report on Tuesday, July 4th. DA Davidson began coverage on First Mid-Illinois Bancshares in a report on Friday, June 9th. They set a neutral rating and a $37.00 target price for the company.

Shares of First Mid-Illinois Bancshares (NASDAQ FMBH) traded up 2.22% during mid-day trading on Tuesday, hitting $35.45. 14,988 shares of the stock traded hands. The firm’s 50-day moving average is $35.29 and its 200-day moving average is $33.53. The stock has a market cap of $442.81 million, a price-to-earnings ratio of 17.26 and a beta of -0.09. First Mid-Illinois Bancshares has a 52 week low of $22.95 and a 52 week high of $37.78.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last announced its earnings results on Thursday, July 27th. The bank reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.10. The company had revenue of $31.92 million during the quarter, compared to the consensus estimate of $29.90 million. First Mid-Illinois Bancshares had a return on equity of 9.28% and a net margin of 22.04%. On average, analysts forecast that First Mid-Illinois Bancshares will post $2.25 earnings per share for the current year.

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In related news, CFO Michael L. Taylor sold 2,983 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $33.23, for a total value of $99,125.09. Following the sale, the chief financial officer now directly owns 8,778 shares of the company’s stock, valued at $291,692.94. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Christopher L. Slabach sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was 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 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 sold 19,083 shares of company stock worth $678,457. 20.30% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of 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. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of First Mid-Illinois Bancshares by 6.0% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 13,891 shares of the bank’s stock valued at $469,000 after buying an additional 791 shares during the last quarter. American International Group Inc. boosted its stake in shares of 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 valued at $155,000 after buying an additional 1,279 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of First Mid-Illinois Bancshares during the first quarter valued at $161,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of First Mid-Illinois Bancshares by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 33,111 shares of the bank’s stock valued at $1,120,000 after buying an additional 2,427 shares during the last quarter. 19.01% of the stock is currently 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).

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