First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.

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. “

Separately, BidaskClub raised shares of First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd.

First Mid-Illinois Bancshares (FMBH) traded down $0.42 on Friday, reaching $38.51. 27,249 shares of the company’s stock were exchanged, compared to its average volume of 21,720. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.23. The stock has a market cap of $481.91, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 1.85 and a beta of -0.03. First Mid-Illinois Bancshares has a 1 year low of $26.28 and a 1 year high of $42.03.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last posted its quarterly earnings data on Thursday, October 26th. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The firm had revenue of $30.53 million for the quarter, compared to the consensus estimate of $30.75 million. First Mid-Illinois Bancshares had a net margin of 22.67% and a return on equity of 9.92%. sell-side analysts forecast that First Mid-Illinois Bancshares will post 2.32 EPS for the current fiscal year.

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In related news, Director William S. Rowland sold 4,960 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $34.24, for a total value of $169,830.40. Following the transaction, the director now directly owns 48,407 shares of the company’s stock, valued at approximately $1,657,455.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Westerhold purchased 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was bought at an average cost of $35.00 per share, for a total transaction of $525,000.00. The disclosure for this purchase can be found here. Insiders sold a total of 8,000 shares of company stock worth $274,790 over the last three months. 20.30% of the stock is owned by insiders.

Several large investors have recently modified their holdings of FMBH. State Street Corp boosted its holdings in shares of First Mid-Illinois Bancshares by 40.2% in the 2nd quarter. State Street Corp now owns 153,658 shares of the bank’s stock worth $5,264,000 after buying an additional 44,028 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of First Mid-Illinois Bancshares in the 1st quarter worth about $903,000. Northern Trust Corp boosted its holdings in shares of First Mid-Illinois Bancshares by 27.1% in the 2nd quarter. Northern Trust Corp now owns 105,507 shares of the bank’s stock worth $3,612,000 after buying an additional 22,496 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in First Mid-Illinois Bancshares by 38.6% during 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 purchasing an additional 12,786 shares during the last quarter. Finally, Rhumbline Advisers purchased a new stake in First Mid-Illinois Bancshares during the second quarter valued at about $370,000. 19.73% of the stock is currently owned by institutional investors.

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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