Schwab Charles Investment Management Inc. boosted its position in shares of First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) by 38.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,900 shares of the bank’s stock after acquiring an additional 5,200 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.15% of First Mid-Illinois Bancshares worth $648,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Nationwide Fund Advisors boosted its holdings in First Mid-Illinois Bancshares by 33.3% during the 1st quarter. Nationwide Fund Advisors now owns 4,473 shares of the bank’s stock valued at $151,000 after acquiring an additional 1,117 shares during the period. American International Group Inc. boosted its holdings in First Mid-Illinois Bancshares by 38.8% during the 1st quarter. American International Group Inc. now owns 4,579 shares of the bank’s stock valued at $155,000 after acquiring an additional 1,279 shares during the period. SG Americas Securities LLC purchased a new position in First Mid-Illinois Bancshares during the 1st quarter valued at about $161,000. Goldman Sachs Group Inc. purchased a new position in First Mid-Illinois Bancshares during the 1st quarter valued at about $903,000. Finally, Dimensional Fund Advisors LP boosted its holdings in First Mid-Illinois Bancshares by 46.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 29,605 shares of the bank’s stock valued at $1,002,000 after acquiring an additional 9,395 shares during the period. Institutional investors own 19.73% of the company’s stock.
In other news, Director William S. Rowland sold 4,960 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $34.24, for a total value of $169,830.40. Following the completion of the sale, the director now owns 48,407 shares in the company, valued at $1,657,455.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Laurel G. Allenbaugh sold 780 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $34.99, for a total value of $27,292.20. Following the completion of the sale, the insider now owns 2,674 shares of the company’s stock, valued at approximately $93,563.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,000 shares of company stock valued at $274,790. Insiders own 20.30% of the company’s stock.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded First Mid-Illinois Bancshares from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Tuesday, August 8th. BidaskClub upgraded First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd.
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First Mid-Illinois Bancshares (NASDAQ:FMBH) last posted its earnings results on Thursday, October 26th. The bank reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. First Mid-Illinois Bancshares had a return on equity of 9.92% and a net margin of 22.67%. The business had revenue of $30.53 million during the quarter, compared to analyst estimates of $30.75 million.
The business also recently announced a semiannual dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, December 1st will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a dividend yield of 1.63%. This is a positive change from First Mid-Illinois Bancshares’s previous semiannual dividend of $0.32. First Mid-Illinois Bancshares’s dividend payout ratio (DPR) is 27.59%.
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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