First Mid-Illinois Bancshares (NASDAQ:FMBH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

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. “

FMBH has been the subject of several other research reports. BidaskClub raised shares of First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, December 25th. ValuEngine raised shares of First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. First Mid-Illinois Bancshares presently has an average rating of “Hold” and an average price target of $43.50.

FMBH opened at $34.50 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.87 and a quick ratio of 0.87. First Mid-Illinois Bancshares has a 52 week low of $30.01 and a 52 week high of $42.46. The firm has a market cap of $575.95 million, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.28 and a beta of 0.44.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last released its earnings results on Thursday, January 24th. The bank reported $0.62 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $42.65 million for the quarter, compared to analyst estimates of $42.07 million. Equities analysts expect that First Mid-Illinois Bancshares will post 2.98 EPS for the current year.

Hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in shares of First Mid-Illinois Bancshares by 49.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 140,082 shares of the bank’s stock valued at $5,650,000 after buying an additional 46,304 shares during the period. Maltese Capital Management LLC grew its holdings in shares of First Mid-Illinois Bancshares by 20.4% in the 3rd quarter. Maltese Capital Management LLC now owns 272,492 shares of the bank’s stock valued at $10,990,000 after buying an additional 46,230 shares during the period. Morgan Stanley grew its holdings in shares of First Mid-Illinois Bancshares by 198.0% in the 3rd quarter. Morgan Stanley now owns 85,105 shares of the bank’s stock valued at $3,433,000 after buying an additional 56,549 shares during the period. Emerald Mutual Fund Advisers Trust lifted its position in First Mid-Illinois Bancshares by 25.7% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 134,051 shares of the bank’s stock valued at $4,279,000 after acquiring an additional 27,400 shares in the last quarter. Finally, Thomson Horstmann & Bryant Inc. lifted its position in First Mid-Illinois Bancshares by 34.4% in the 3rd quarter. Thomson Horstmann & Bryant Inc. now owns 115,252 shares of the bank’s stock valued at $4,648,000 after acquiring an additional 29,510 shares in the last quarter. 31.02% of the stock is owned by 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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