First Mid-Illinois Bancshares (FMBH) Cut to Sell at BidaskClub

BidaskClub cut shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) from a hold rating to a sell rating in a research note published on Friday, March 22nd, BidAskClub reports.

A number of other equities research analysts also recently commented on the stock. ValuEngine upgraded shares of First Mid-Illinois Bancshares from a sell rating to a hold rating in a research report on Friday, January 4th. Zacks Investment Research downgraded shares of First Mid-Illinois Bancshares from a hold rating to a sell rating in a research report on Thursday, February 7th. Three research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $44.33.

Shares of FMBH stock traded down $0.69 during mid-day trading on Friday, hitting $33.09. 9,661 shares of the stock were exchanged, compared to its average volume of 22,566. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.87 and a current ratio of 0.87. First Mid-Illinois Bancshares has a 12-month low of $30.01 and a 12-month high of $42.46. The firm has a market cap of $563.11 million, a price-to-earnings ratio of 12.12, a PEG ratio of 1.25 and a beta of 0.43.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last released its quarterly earnings results on Thursday, January 24th. The bank reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.11). First Mid-Illinois Bancshares had a return on equity of 9.85% and a net margin of 22.88%. The company had revenue of $42.65 million for the quarter, compared to analysts’ expectations of $42.07 million. As a group, research analysts predict that First Mid-Illinois Bancshares will post 2.97 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. Federated Investors Inc. PA raised its position in shares of First Mid-Illinois Bancshares by 134.9% during the 3rd quarter. Federated Investors Inc. PA now owns 1,010 shares of the bank’s stock worth $40,000 after purchasing an additional 580 shares during the last quarter. Legal & General Group Plc grew its stake in shares of First Mid-Illinois Bancshares by 17.4% during the 4th quarter. Legal & General Group Plc now owns 2,323 shares of the bank’s stock valued at $74,000 after buying an additional 344 shares during the period. SG Americas Securities LLC purchased a new stake in shares of First Mid-Illinois Bancshares during the 3rd quarter valued at $162,000. Metropolitan Life Insurance Co. NY grew its stake in shares of First Mid-Illinois Bancshares by 377.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,285 shares of the bank’s stock valued at $137,000 after buying an additional 3,387 shares during the period. Finally, Capital Advisors Inc. OK purchased a new stake in shares of First Mid-Illinois Bancshares during the 4th quarter valued at $215,000. Institutional investors own 28.45% of the company’s stock.

First Mid-Illinois Bancshares Company Profile

First Mid-Illinois Bancshares, Inc, through its subsidiaries, provides community banking products and services to commercial, retail, and agricultural customers in the United States. The company accepts various deposit products, such as demand deposits, savings accounts, NOW accounts, money market deposits, and time deposits.

Further Reading: What are Institutional Investors?

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