First Mid-Illinois Bancshares (FMBH) Upgraded to Buy by DA Davidson

DA Davidson upgraded shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) from a neutral rating to a buy rating in a research report report published on Friday, MarketBeat reports. They currently have $37.00 target price on the bank’s stock.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut First Mid-Illinois Bancshares from a hold rating to a sell rating in a research note on Friday, November 3rd. BidaskClub cut First Mid-Illinois Bancshares from a hold rating to a sell rating in a research note on Friday, January 26th.

First Mid-Illinois Bancshares (NASDAQ FMBH) traded up $1.22 during mid-day trading on Friday, reaching $35.57. The company had a trading volume of 26,748 shares, compared to its average volume of 19,898. The stock has a market capitalization of $464.76, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.40 and a beta of 0.08. First Mid-Illinois Bancshares has a 12-month low of $31.05 and a 12-month high of $42.03. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.83 and a current ratio of 0.83.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last posted its earnings results on Thursday, January 25th. The bank reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.11). The business had revenue of $30.69 million for the quarter, compared to analysts’ expectations of $30.80 million. First Mid-Illinois Bancshares had a return on equity of 9.33% and a net margin of 20.54%. research analysts predict that First Mid-Illinois Bancshares will post 2.73 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC purchased a new stake in First Mid-Illinois Bancshares during the fourth quarter worth approximately $236,000. BlackRock Inc. increased its position in First Mid-Illinois Bancshares by 2.9% during the fourth quarter. BlackRock Inc. now owns 491,632 shares of the bank’s stock worth $18,948,000 after buying an additional 14,045 shares during the period. Bank of New York Mellon Corp increased its position in First Mid-Illinois Bancshares by 36.3% during the fourth quarter. Bank of New York Mellon Corp now owns 61,492 shares of the bank’s stock worth $2,370,000 after buying an additional 16,372 shares during the period. First Trust Advisors LP increased its position in First Mid-Illinois Bancshares by 228.0% during the fourth quarter. First Trust Advisors LP now owns 23,345 shares of the bank’s stock worth $900,000 after buying an additional 16,227 shares during the period. Finally, Swiss National Bank acquired a new position in First Mid-Illinois Bancshares during the fourth quarter worth approximately $574,000. Hedge funds and other institutional investors own 21.10% of the company’s stock.

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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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