First Mid-Illinois Bancshares (NASDAQ:FMBH) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other equities analysts have also commented on the stock. Zacks Investment Research raised shares of First Mid-Illinois Bancshares from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Thursday, August 9th. Raymond James began coverage on shares of First Mid-Illinois Bancshares in a research report on Thursday, July 12th. They set an “outperform” rating and a $45.00 price target for the company. Finally, DA Davidson upped their price target on shares of First Mid-Illinois Bancshares from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, June 19th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $44.25.

Shares of FMBH opened at $36.99 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.30. The company has a market cap of $616.65 million, a P/E ratio of 16.51, a PEG ratio of 1.60 and a beta of 0.09. First Mid-Illinois Bancshares has a 1 year low of $30.01 and a 1 year high of $42.46.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last announced its quarterly earnings data on Thursday, July 26th. The bank reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.07. First Mid-Illinois Bancshares had a net margin of 22.55% and a return on equity of 9.56%. The business had revenue of $35.82 million for the quarter, compared to the consensus estimate of $34.50 million. On average, equities analysts predict that First Mid-Illinois Bancshares will post 2.81 EPS for the current year.

In related news, insider Laurel G. Allenbaugh sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $40.36, for a total transaction of $100,900.00. Following the completion of the transaction, the insider now owns 5,530 shares of the company’s stock, valued at $223,190.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 17.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of FMBH. Maltese Capital Management LLC increased its position in First Mid-Illinois Bancshares by 190.0% during the second quarter. Maltese Capital Management LLC now owns 226,262 shares of the bank’s stock worth $8,892,000 after purchasing an additional 148,252 shares during the last quarter. BlackRock Inc. increased its position in shares of First Mid-Illinois Bancshares by 23.0% in the second quarter. BlackRock Inc. now owns 603,780 shares of the bank’s stock worth $23,729,000 after acquiring an additional 112,981 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of First Mid-Illinois Bancshares in the second quarter worth $4,191,000. Siena Capital Partners GP LLC increased its position in shares of First Mid-Illinois Bancshares by 149.4% in the second quarter. Siena Capital Partners GP LLC now owns 140,589 shares of the bank’s stock worth $5,525,000 after acquiring an additional 84,220 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of First Mid-Illinois Bancshares by 35.8% in the second quarter. Dimensional Fund Advisors LP now owns 166,327 shares of the bank’s stock worth $6,537,000 after acquiring an additional 43,847 shares in the last quarter. 30.35% of the stock is owned by hedge funds and other institutional investors.

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.

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