Zacks: First Mid-Illinois Bancshares, Inc. (FMBH) Given Average Rating of “Buy” by Brokerages

Shares of First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) have received a consensus broker rating score of 1.50 (Buy) from the four analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and three have given a strong buy rating to the company. First Mid-Illinois Bancshares’ rating score has improved by 35.6% from three months ago as a result of various analysts’ upgrades and downgrades.

Analysts have set a 12-month consensus price target of $42.33 for the company and are anticipating that the company will post $0.65 EPS for the current quarter, according to Zacks. Zacks has also assigned First Mid-Illinois Bancshares an industry rank of 167 out of 265 based on the ratings given to its competitors.

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Several equities research analysts recently commented on FMBH shares. Zacks Investment Research raised First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. DA Davidson raised First Mid-Illinois Bancshares from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Friday, February 9th. BidaskClub cut First Mid-Illinois Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, March 7th. Sandler O’Neill started coverage on First Mid-Illinois Bancshares in a research note on Thursday, April 5th. They set a “buy” rating and a $41.00 target price for the company. Finally, ValuEngine cut First Mid-Illinois Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday.

A number of institutional investors have recently made changes to their positions in FMBH. MetLife Investment Advisors LLC acquired a new stake in First Mid-Illinois Bancshares in the fourth quarter valued at approximately $163,000. Citadel Advisors LLC acquired a new stake in First Mid-Illinois Bancshares in the fourth quarter valued at approximately $236,000. Thrivent Financial For Lutherans acquired a new stake in First Mid-Illinois Bancshares in the fourth quarter valued at approximately $302,000. SG Americas Securities LLC acquired a new stake in First Mid-Illinois Bancshares in the third quarter valued at approximately $331,000. Finally, Dupont Capital Management Corp acquired a new stake in First Mid-Illinois Bancshares in the fourth quarter valued at approximately $391,000. 22.75% of the stock is owned by hedge funds and other institutional investors.

Shares of FMBH traded up $0.25 during mid-day trading on Thursday, reaching $35.95. 4,130 shares of the company were exchanged, compared to its average volume of 21,643. First Mid-Illinois Bancshares has a 52 week low of $31.05 and a 52 week high of $42.03. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $453.73, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.53 and a beta of 0.08.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.11). First Mid-Illinois Bancshares had a return on equity of 9.28% and a net margin of 20.54%. The company had revenue of $30.69 million for the quarter, compared to the consensus estimate of $30.80 million. sell-side analysts anticipate that First Mid-Illinois Bancshares will post 2.6 EPS for the current year.

The firm also recently announced a special dividend, which will be paid on Monday, April 30th. Investors of record on Monday, April 23rd will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, April 20th. This represents a yield of 1.89%. This is a boost from First Mid-Illinois Bancshares’s previous special dividend of $0.16. First Mid-Illinois Bancshares’s dividend payout ratio (DPR) is currently 30.36%.

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About First Mid-Illinois Bancshares

First Mid-Illinois Bancshares, Inc, through its subsidiaries, provides community banking products and services to commercial, retail, and agricultural customers in the United States. The company accepts various deposit products, such as demand deposits, savings accounts, NOW accounts, money market deposits, and time deposits.

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