Zacks: Analysts Expect First Mid-Illinois Bancshares, Inc. (FMBH) Will Post Quarterly Sales of $45.08 Million

Wall Street brokerages forecast that First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) will report sales of $45.08 million for the current quarter, according to Zacks. Three analysts have provided estimates for First Mid-Illinois Bancshares’ earnings, with estimates ranging from $44.40 million to $45.60 million. First Mid-Illinois Bancshares reported sales of $35.82 million during the same quarter last year, which indicates a positive year-over-year growth rate of 25.9%. The firm is expected to report its next quarterly earnings results on Thursday, July 25th.

According to Zacks, analysts expect that First Mid-Illinois Bancshares will report full-year sales of $183.80 million for the current year, with estimates ranging from $181.80 million to $185.40 million. For the next financial year, analysts anticipate that the company will post sales of $190.30 million, with estimates ranging from $185.80 million to $195.80 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for First Mid-Illinois Bancshares.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last posted its earnings results on Wednesday, April 24th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. The company had revenue of $46.89 million during the quarter, compared to the consensus estimate of $45.97 million. First Mid-Illinois Bancshares had a net margin of 23.07% and a return on equity of 9.92%.

FMBH has been the subject of a number of research reports. Zacks Investment Research upgraded shares of First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. ValuEngine raised shares of First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, February 7th. Finally, BidaskClub cut shares of First Mid-Illinois Bancshares from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $43.00.

NASDAQ FMBH traded down $0.04 on Friday, reaching $34.48. 205 shares of the company’s stock traded hands, compared to its average volume of 17,425. The company has a market capitalization of $562.66 million, a PE ratio of 12.60, a P/E/G ratio of 1.25 and a beta of 0.44. First Mid-Illinois Bancshares has a fifty-two week low of $30.01 and a fifty-two week high of $42.46. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.88 and a quick ratio of 0.88.

The company also recently disclosed a semiannual dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, June 3rd will be issued a $0.36 dividend. The ex-dividend date is Friday, May 31st. This represents a yield of 2.08%. First Mid-Illinois Bancshares’s payout ratio is 26.37%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FMBH. Legal & General Group Plc increased 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 purchasing an additional 344 shares in the last quarter. Northern Trust Corp increased its stake in shares of First Mid-Illinois Bancshares by 0.3% during the first quarter. Northern Trust Corp now owns 144,178 shares of the bank’s stock worth $4,804,000 after purchasing an additional 439 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of First Mid-Illinois Bancshares by 8.2% during 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 in the last quarter. Swiss National Bank increased its stake in shares of First Mid-Illinois Bancshares by 3.0% during the first quarter. Swiss National Bank now owns 20,900 shares of the bank’s stock worth $696,000 after purchasing an additional 600 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of First Mid-Illinois Bancshares by 3.5% during the third quarter. TIAA CREF Investment Management LLC now owns 26,139 shares of the bank’s stock worth $1,054,000 after purchasing an additional 875 shares in the last quarter. 28.87% of the stock is owned by institutional investors.

About First Mid-Illinois Bancshares

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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