Ray A. Sparks Sells 814 Shares of First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) Stock

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First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) Director Ray A. Sparks sold 814 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $35.00, for a total value of $28,490.00. Following the transaction, the director now directly owns 218,644 shares in the company, valued at $7,652,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of FMBH stock opened at $34.99 on Thursday. The stock has a 50-day simple moving average of $35.11 and a 200 day simple moving average of $34.19. First Mid-Illinois Bancshares, Inc. has a fifty-two week low of $30.20 and a fifty-two week high of $36.45. The stock has a market capitalization of $579.95 million, a P/E ratio of 12.82 and a beta of 0.49. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.23.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last announced its earnings results on Thursday, October 24th. The bank reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). First Mid-Illinois Bancshares had a net margin of 22.75% and a return on equity of 9.16%. The firm had revenue of $44.04 million for the quarter, compared to the consensus estimate of $44.55 million. On average, sell-side analysts anticipate that First Mid-Illinois Bancshares, Inc. will post 2.86 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new position in First Mid-Illinois Bancshares during the third quarter valued at about $133,000. Metropolitan Life Insurance Co NY boosted its stake in First Mid-Illinois Bancshares by 10.2% during the third quarter. Metropolitan Life Insurance Co NY now owns 4,724 shares of the bank’s stock valued at $164,000 after buying an additional 439 shares in the last quarter. Zebra Capital Management LLC boosted its stake in First Mid-Illinois Bancshares by 9.7% during the second quarter. Zebra Capital Management LLC now owns 7,640 shares of the bank’s stock valued at $267,000 after buying an additional 678 shares in the last quarter. Rhumbline Advisers boosted its stake in First Mid-Illinois Bancshares by 9.6% during the third quarter. Rhumbline Advisers now owns 21,329 shares of the bank’s stock valued at $738,000 after buying an additional 1,860 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in First Mid-Illinois Bancshares by 13.6% during the third quarter. California Public Employees Retirement System now owns 23,491 shares of the bank’s stock valued at $813,000 after buying an additional 2,815 shares in the last quarter. 31.68% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently commented on the company. DA Davidson reissued a “buy” rating on shares of First Mid-Illinois Bancshares in a report on Monday, November 18th. BidaskClub lowered First Mid-Illinois Bancshares from a “sell” rating to a “strong sell” rating in a report on Friday, December 27th. Finally, Zacks Investment Research raised First Mid-Illinois Bancshares from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $38.33.

First Mid-Illinois Bancshares Company Profile

First Mid Bancshares, Inc, through its subsidiaries, provides community banking products and services to commercial, retail, and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits, and time deposits. The company's loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.

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