First Mid-Illinois Bancshares (NASDAQ:FMBH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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. “
Several other equities analysts have also recently weighed in on FMBH. BidaskClub raised shares of First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, February 10th. DA Davidson raised shares of First Mid-Illinois Bancshares from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Friday, February 9th.
First Mid-Illinois Bancshares (NASDAQ:FMBH) last posted its earnings results on Thursday, January 25th. The bank reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.11). The company had revenue of $30.69 million for the quarter, compared to analysts’ expectations of $30.80 million. First Mid-Illinois Bancshares had a net margin of 20.54% and a return on equity of 9.33%. analysts anticipate that First Mid-Illinois Bancshares will post 2.73 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. MetLife Investment Advisors LLC purchased a new position in First Mid-Illinois Bancshares during the fourth quarter valued at $163,000. Nationwide Fund Advisors grew its stake in 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 in the last quarter. Voya Investment Management LLC purchased a new position in First Mid-Illinois Bancshares during the second quarter valued at $201,000. Citadel Advisors LLC purchased a new position in First Mid-Illinois Bancshares during the fourth quarter valued at $236,000. Finally, First Trust Advisors LP purchased a new position in First Mid-Illinois Bancshares during the third quarter valued at $273,000. 22.64% of the stock is owned by institutional investors.
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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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