First Mid-Illinois Bancshares (FMBH) Now Covered by Hovde Group

Hovde Group assumed coverage on shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) in a report released on Monday, May 6th, Briefing.com Automated Import reports. The brokerage issued a market perform rating and a $39.00 price target on the bank’s stock.

A number of other brokerages have also issued reports on FMBH. ValuEngine raised First Mid-Illinois Bancshares from a sell rating to a hold rating in a research note on Saturday, May 4th. BidaskClub upgraded First Mid-Illinois Bancshares from a sell rating to a hold rating in a research report on Tuesday, April 30th. Finally, Zacks Investment Research upgraded First Mid-Illinois Bancshares from a sell rating to a hold rating in a research report on Tuesday, March 5th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $43.00.

First Mid-Illinois Bancshares stock traded up $0.20 during midday trading on Monday, reaching $34.15. The company’s stock had a trading volume of 44,046 shares, compared to its average volume of 18,780. First Mid-Illinois Bancshares has a 52-week low of $30.49 and a 52-week high of $42.46. The stock has a market cap of $575.16 million, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.28 and a beta of 0.44. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 0.88.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last announced its quarterly earnings data on Wednesday, April 24th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.08. First Mid-Illinois Bancshares had a return on equity of 9.92% and a net margin of 23.07%. The firm had revenue of $46.89 million during the quarter, compared to analysts’ expectations of $45.97 million. As a group, sell-side analysts predict that First Mid-Illinois Bancshares will post 3 EPS for the current fiscal year.

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

Hedge funds have recently bought and sold shares of the stock. Thrivent Financial for Lutherans raised its holdings in shares of First Mid-Illinois Bancshares by 8.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 7,397 shares of the bank’s stock valued at $236,000 after buying an additional 563 shares during the period. Morgan Stanley raised its holdings in shares of First Mid-Illinois Bancshares by 198.0% in the 3rd quarter. Morgan Stanley now owns 85,105 shares of the bank’s stock valued at $3,433,000 after buying an additional 56,549 shares during the period. Zacks Investment Management purchased a new stake in shares of First Mid-Illinois Bancshares in the 4th quarter valued at $883,000. Emerald Mutual Fund Advisers Trust raised its holdings in shares of First Mid-Illinois Bancshares by 25.7% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 134,051 shares of the bank’s stock valued at $4,279,000 after buying an additional 27,400 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of First Mid-Illinois Bancshares by 5.7% in the 3rd quarter. Renaissance Technologies LLC now owns 148,100 shares of the bank’s stock valued at $5,973,000 after buying an additional 7,987 shares during the period. Hedge funds and other institutional investors own 28.98% of the company’s stock.

First Mid-Illinois Bancshares Company Profile

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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