First Mid-Illinois Bancshares, Inc. (FMBH) Forecasted to Post Q3 2017 Earnings of $0.62 Per Share

First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) – Stock analysts at DA Davidson increased their Q3 2017 earnings per share (EPS) estimates for shares of First Mid-Illinois Bancshares in a research report issued on Friday. DA Davidson analyst K. Reevey now expects that the bank will earn $0.62 per share for the quarter, up from their prior forecast of $0.58. DA Davidson currently has a “Neutral” rating and a $37.00 target price on the stock. DA Davidson also issued estimates for First Mid-Illinois Bancshares’ Q4 2017 earnings at $0.64 EPS, FY2017 earnings at $2.42 EPS and FY2018 earnings at $2.65 EPS.

Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of First Mid-Illinois Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded shares of First Mid-Illinois Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 4th.

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Shares of First Mid-Illinois Bancshares (NASDAQ FMBH) opened at 36.59 on Monday. The company has a market capitalization of $457.56 million, a PE ratio of 17.04 and a beta of -0.10. The company’s 50-day moving average is $35.31 and its 200-day moving average is $33.57. First Mid-Illinois Bancshares has a one year low of $22.95 and a one year high of $37.78.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last issued its earnings results on Thursday, July 27th. The bank reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.10. The firm had revenue of $31.92 million during the quarter, compared to analysts’ expectations of $29.90 million. First Mid-Illinois Bancshares had a net margin of 22.04% and a return on equity of 9.28%.

Several large investors have recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. increased its stake in First Mid-Illinois Bancshares by 6.0% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 13,891 shares of the bank’s stock worth $469,000 after buying an additional 791 shares during the period. Nationwide Fund Advisors increased its stake in First Mid-Illinois Bancshares by 33.3% in the first quarter. Nationwide Fund Advisors now owns 4,473 shares of the bank’s stock worth $151,000 after buying an additional 1,117 shares during the period. American International Group Inc. increased its stake in First Mid-Illinois Bancshares by 38.8% in the first quarter. American International Group Inc. now owns 4,579 shares of the bank’s stock worth $155,000 after buying an additional 1,279 shares during the period. First Trust Advisors LP increased its stake in shares of First Mid-Illinois Bancshares by 9.4% in the first quarter. First Trust Advisors LP now owns 23,000 shares of the bank’s stock valued at $778,000 after buying an additional 1,980 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of First Mid-Illinois Bancshares by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 33,111 shares of the bank’s stock valued at $1,120,000 after buying an additional 2,427 shares during the last quarter. 18.98% of the stock is owned by institutional investors and hedge funds.

In related news, Director Ray A. Sparks sold 7,921 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $36.84, for a total transaction of $291,809.64. Following the completion of the sale, the director now directly owns 282,858 shares of the company’s stock, valued at $10,420,488.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William S. Rowland sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $34.07, for a total transaction of $136,280.00. Following the sale, the director now directly owns 48,407 shares of the company’s stock, valued at $1,649,226.49. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,100 shares of company stock valued at $579,332. 20.30% of the stock is currently owned by insiders.

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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