Martingale Asset Management L P raised its stake in First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) by 26.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,405 shares of the bank’s stock after purchasing an additional 7,904 shares during the quarter. Martingale Asset Management L P owned 0.30% of First Mid-Illinois Bancshares worth $1,281,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Nationwide Fund Advisors grew its stake in shares of First Mid-Illinois Bancshares by 33.3% in the 1st quarter. Nationwide Fund Advisors now owns 4,473 shares of the bank’s stock valued at $151,000 after purchasing an additional 1,117 shares during the last quarter. American International Group Inc. grew its stake in shares of First Mid-Illinois Bancshares by 38.8% in the 1st quarter. American International Group Inc. now owns 4,579 shares of the bank’s stock valued at $155,000 after purchasing an additional 1,279 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of First Mid-Illinois Bancshares in the 1st quarter valued at approximately $161,000. LSV Asset Management grew its stake in shares of First Mid-Illinois Bancshares by 947.4% in the 2nd quarter. LSV Asset Management now owns 5,300 shares of the bank’s stock valued at $181,000 after purchasing an additional 4,794 shares during the last quarter. Finally, Rhumbline Advisers purchased a new position in shares of First Mid-Illinois Bancshares in the 2nd quarter valued at approximately $370,000. Institutional investors own 20.11% of the company’s stock.

Several research analysts have weighed in on the company. Zacks Investment Research upgraded First Mid-Illinois Bancshares from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Friday, September 8th. BidaskClub upgraded First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, DA Davidson assumed coverage on First Mid-Illinois Bancshares in a research note on Friday, June 9th. They issued a “neutral” rating and a $37.00 target price on the stock.

In other news, insider Laurel G. Allenbaugh sold 960 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $34.35, for a total transaction of $32,976.00. Following the sale, the insider now directly owns 3,062 shares in the company, valued at approximately $105,179.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Westerhold purchased 15,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were bought at an average price of $35.00 per share, for a total transaction of $525,000.00. The disclosure for this purchase can be found here. Insiders have sold a total of 8,000 shares of company stock worth $274,790 over the last quarter. Insiders own 20.30% of the company’s stock.

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First Mid-Illinois Bancshares, Inc. (FMBH) opened at 34.89 on Friday. The stock has a market capitalization of $436.58 million, a P/E ratio of 15.74 and a beta of -0.06. First Mid-Illinois Bancshares, Inc. has a 52 week low of $25.61 and a 52 week high of $37.78. The firm has a 50 day moving average price of $35.00 and a 200 day moving average price of $34.26.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last announced its quarterly earnings results on Thursday, July 27th. The bank reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.10. The business had revenue of $31.92 million for the quarter, compared to analysts’ expectations of $29.90 million. First Mid-Illinois Bancshares had a return on equity of 9.16% and a net margin of 22.04%. Equities research analysts predict that First Mid-Illinois Bancshares, Inc. will post $2.38 earnings per share for the current year.

First Mid-Illinois Bancshares 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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Institutional Ownership by Quarter for First Mid-Illinois Bancshares (NASDAQ:FMBH)

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