First Mid-Illinois Bancshares (FMBH) Receives New Coverage from Analysts at Sandler O’Neill

Analysts at Sandler O’Neill assumed coverage on shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) in a research note issued to investors on Thursday, Marketbeat.com reports. The firm set a “buy” rating and a $41.00 price target on the bank’s stock. Sandler O’Neill’s target price suggests a potential upside of 13.23% from the company’s current price.

Other research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of First Mid-Illinois Bancshares from a “hold” rating to a “sell” rating in a report on Friday, January 26th. Zacks Investment Research raised shares of First Mid-Illinois Bancshares from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Tuesday, January 16th. Finally, DA Davidson raised shares of First Mid-Illinois Bancshares from a “neutral” rating to a “buy” rating and set a $37.00 price target for the company in a report on Friday, February 9th.

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Shares of First Mid-Illinois Bancshares stock opened at $36.21 on Thursday. The stock has a market cap of $460.83, a PE ratio of 16.17, a PEG ratio of 1.55 and a beta of 0.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.27. First Mid-Illinois Bancshares has a twelve month low of $31.05 and a twelve month high of $42.03.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.11). The firm 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 9.28%. analysts anticipate that First Mid-Illinois Bancshares will post 2.6 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Swiss National Bank bought a new position in shares of First Mid-Illinois Bancshares in the 4th quarter valued at about $574,000. First Trust Advisors LP bought a new position in shares of First Mid-Illinois Bancshares in the 3rd quarter valued at about $273,000. OxFORD Asset Management LLP lifted its holdings 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 valued at $438,000 after acquiring an additional 2,830 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of First Mid-Illinois Bancshares in the 3rd quarter valued at about $331,000. Finally, Bowling Portfolio Management LLC bought a new position in shares of First Mid-Illinois Bancshares in the 4th quarter valued at about $1,775,000. 22.75% of the stock is owned by hedge funds and other institutional investors.

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About First Mid-Illinois Bancshares

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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