First Mid-Illinois Bancshares (NASDAQ:FMBH) was upgraded by stock analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued on Friday, MarketBeat.com reports. The firm currently has a $37.00 price target on the bank’s stock. DA Davidson’s price objective would indicate a potential upside of 4.02% from the stock’s current price.

FMBH has been the topic of several other research reports. BidaskClub lowered First Mid-Illinois Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, January 26th. Zacks Investment Research lowered First Mid-Illinois Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd.

First Mid-Illinois Bancshares (NASDAQ:FMBH) opened at $35.57 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.83 and a quick ratio of 0.83. First Mid-Illinois Bancshares has a one year low of $31.05 and a one year high of $42.03. The company has a market capitalization of $450.35, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 1.45 and a beta of -0.04.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.11). First Mid-Illinois Bancshares had a net margin of 20.54% and a return on equity of 9.33%. The firm had revenue of $30.69 million for the quarter, compared to analyst estimates of $30.80 million. sell-side analysts expect that First Mid-Illinois Bancshares will post 2.73 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of FMBH. Schwab Charles Investment Management Inc. lifted its stake in shares of First Mid-Illinois Bancshares by 38.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 18,900 shares of the bank’s stock valued at $648,000 after acquiring an additional 5,200 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of 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 acquiring an additional 12,786 shares during the period. Teachers Advisors LLC lifted its stake in shares of First Mid-Illinois Bancshares by 45.1% during the second quarter. Teachers Advisors LLC now owns 17,762 shares of the bank’s stock valued at $608,000 after acquiring an additional 5,521 shares during the period. TIAA CREF Investment Management LLC lifted its stake in shares of First Mid-Illinois Bancshares by 44.3% during the second quarter. TIAA CREF Investment Management LLC now owns 26,853 shares of the bank’s stock valued at $919,000 after acquiring an additional 8,246 shares during the period. Finally, Nationwide Fund Advisors lifted its stake in shares of First Mid-Illinois Bancshares by 27.2% during the second quarter. Nationwide Fund Advisors now owns 5,690 shares of the bank’s stock valued at $195,000 after acquiring an additional 1,217 shares during the period. 21.10% of the stock is currently owned by institutional investors and hedge funds.

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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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