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. “
Other equities research analysts have also recently issued reports about the company. ValuEngine cut First Mid-Illinois Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, June 24th. BidaskClub upgraded First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Finally, Hovde Group initiated coverage on First Mid-Illinois Bancshares in a research note on Monday, May 6th. They set a “market perform” rating and a $39.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $42.33.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc lifted 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 worth $74,000 after purchasing an additional 344 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of First Mid-Illinois Bancshares by 486.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,663 shares of the bank’s stock worth $89,000 after purchasing an additional 2,209 shares during the last quarter. Strs Ohio lifted its stake in shares of First Mid-Illinois Bancshares by 8.6% during the 2nd quarter. Strs Ohio now owns 3,800 shares of the bank’s stock worth $132,000 after purchasing an additional 300 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted 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 worth $137,000 after purchasing an additional 3,387 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of First Mid-Illinois Bancshares during the 1st quarter worth $187,000. Hedge funds and other institutional investors own 28.96% of the company’s stock.
About First Mid-Illinois Bancshares
First Mid Bancshares, Inc, through its subsidiaries, provides community banking products and services to commercial, retail, and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits, and time deposits. The company's loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.
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