ValuEngine Lowers First Mid-Illinois Bancshares (FMBH) to Hold

ValuEngine lowered shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Several other analysts also recently weighed in on FMBH. BidaskClub downgraded First Mid-Illinois Bancshares from a buy rating to a hold rating in a research note on Friday, April 13th. Sandler O’Neill began coverage on First Mid-Illinois Bancshares in a research note on Thursday, April 5th. They set a buy rating and a $41.00 target price on the stock. Zacks Investment Research raised First Mid-Illinois Bancshares from a hold rating to a buy rating and set a $44.00 target price on the stock in a research note on Tuesday, January 16th. Finally, DA Davidson raised First Mid-Illinois Bancshares from a neutral rating to a buy rating and set a $37.00 price objective on the stock in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. First Mid-Illinois Bancshares currently has a consensus rating of Hold and a consensus target price of $40.67.

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Shares of First Mid-Illinois Bancshares stock opened at $36.04 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $455.63, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 1.54 and a beta of 0.08. First Mid-Illinois Bancshares has a 1-year low of $31.05 and a 1-year high of $42.03.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last announced its earnings results on Thursday, January 25th. The bank reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.11). The business had revenue of $30.69 million for the quarter, compared to the consensus estimate of $30.80 million. First Mid-Illinois Bancshares had a net margin of 20.54% and a return on equity of 9.28%. research analysts forecast that First Mid-Illinois Bancshares will post 2.6 EPS for the current fiscal year.

The company also recently disclosed a special dividend, which will be paid on Monday, April 30th. Stockholders of record on Monday, April 23rd will be paid a $0.29 dividend. This represents a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, April 20th. This is an increase from First Mid-Illinois Bancshares’s previous special dividend of $0.16. First Mid-Illinois Bancshares’s payout ratio is currently 30.36%.

Institutional investors and hedge funds have recently bought and sold shares of the company. MetLife Investment Advisors LLC bought a new stake in shares of First Mid-Illinois Bancshares in the 4th quarter worth $163,000. Citadel Advisors LLC bought a new stake in shares of First Mid-Illinois Bancshares in the 4th quarter worth $236,000. Thrivent Financial For Lutherans bought a new stake in shares of First Mid-Illinois Bancshares in the 4th quarter worth $302,000. Dupont Capital Management Corp bought a new stake in shares of First Mid-Illinois Bancshares in the 4th quarter worth $391,000. Finally, OxFORD Asset Management LLP raised its stake in shares of First Mid-Illinois Bancshares by 32.4% in the 3rd quarter. OxFORD Asset Management LLP now owns 11,557 shares of the bank’s stock worth $438,000 after buying an additional 2,830 shares in the last quarter. 22.75% of the stock is currently owned by institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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