First Mid-Illinois Bancshares (NASDAQ:FMBH) Downgraded to Sell at BidaskClub

First Mid-Illinois Bancshares (NASDAQ:FMBH) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday, June 26th, BidAskClub reports.

Several other equities research analysts also recently issued reports on FMBH. Zacks Investment Research upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Hovde Group initiated coverage on shares of First Bank in a research report on Monday, May 6th. They issued an “outperform” rating and a $13.00 price target for the company. Finally, ValuEngine upgraded shares of YPF from a “sell” rating to a “hold” rating in a research report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $42.33.

FMBH stock traded up $0.15 during trading hours on Wednesday, reaching $33.50. 23,230 shares of the stock were exchanged, compared to its average volume of 22,230. The company has a market cap of $567.83 million, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 1.26 and a beta of 0.46. The firm’s 50-day simple moving average is $34.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 0.88. First Mid-Illinois Bancshares has a 12 month low of $30.49 and a 12 month high of $42.00.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. The business had revenue of $46.89 million during the quarter, compared to analysts’ expectations of $45.97 million. First Mid-Illinois Bancshares had a return on equity of 9.92% and a net margin of 23.07%. Equities analysts expect that First Mid-Illinois Bancshares will post 3 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc grew its stake in shares of First Mid-Illinois Bancshares by 17.4% during the fourth quarter. Legal & General Group Plc now owns 2,323 shares of the bank’s stock worth $74,000 after buying an additional 344 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of First Mid-Illinois Bancshares by 486.6% during the first quarter. BNP Paribas Arbitrage SA now owns 2,663 shares of the bank’s stock worth $89,000 after buying an additional 2,209 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its stake in shares of First Mid-Illinois Bancshares by 377.2% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,285 shares of the bank’s stock worth $137,000 after buying an additional 3,387 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of First Mid-Illinois Bancshares in the first quarter worth $187,000. Finally, Thrivent Financial for Lutherans grew its stake in shares of First Mid-Illinois Bancshares by 8.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,397 shares of the bank’s stock worth $236,000 after purchasing an additional 563 shares during the last quarter. 28.98% of the stock is currently owned by hedge funds and other institutional investors.

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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