First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

According to Zacks, “First Mid-Illinois Bancshares, Inc. is a financial holding company. The Company is engaged in the business of banking through its wholly owned subsidiary, First Mid-Illinois Bank & Trust, N.A. It operates in three lines of business: community banking and wealth management through First Mid Bank, and insurance brokerage through First Mid Insurance Group. The company’s deposit products include demand, savings, money market, and time deposits, as well as NOW accounts. Its loan portfolio primarily comprise commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans. The company also offers estate planning, investment, and farm management services; and employee benefit services. In addition, it provides commercial lines insurance to businesses; and homeowner, automobile, and other types of personal lines insurance to individuals. First Mid-Illinois Bancshares, Inc is headquartered in Mattoon, Illinois. “

Separately, BidaskClub raised shares of First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd.

Shares of First Mid-Illinois Bancshares (NASDAQ FMBH) traded up $0.22 during midday trading on Friday, reaching $38.51. 27,249 shares of the company traded hands, compared to its average volume of 21,720. The company has a market cap of $487.17 million, a PE ratio of 16.78, a price-to-earnings-growth ratio of 1.87 and a beta of -0.03. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.23.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last issued its quarterly earnings results on Thursday, October 26th. The bank reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. The company had revenue of $30.53 million during the quarter, compared to analyst estimates of $30.75 million. First Mid-Illinois Bancshares had a net margin of 22.67% and a return on equity of 9.92%. sell-side analysts anticipate that First Mid-Illinois Bancshares will post 2.32 EPS for the current fiscal year.

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In other news, Director William S. Rowland sold 4,960 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $34.24, for a total transaction of $169,830.40. Following the completion of the sale, the director now owns 48,407 shares of the company’s stock, valued at $1,657,455.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Laurel G. Allenbaugh sold 780 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $34.99, for a total transaction of $27,292.20. Following the sale, the insider now directly owns 2,674 shares of the company’s stock, valued at approximately $93,563.26. The disclosure for this sale can be found here. Insiders have sold 8,000 shares of company stock valued at $274,790 in the last ninety days. Insiders own 20.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in FMBH. Nationwide Fund Advisors grew its holdings in shares of First Mid-Illinois Bancshares by 33.3% during the first quarter. Nationwide Fund Advisors now owns 4,473 shares of the bank’s stock worth $151,000 after buying an additional 1,117 shares in the last quarter. American International Group Inc. grew its holdings in shares of First Mid-Illinois Bancshares by 38.8% during the first quarter. American International Group Inc. now owns 4,579 shares of the bank’s stock worth $155,000 after buying an additional 1,279 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of First Mid-Illinois Bancshares during the first quarter worth $161,000. LSV Asset Management grew its holdings in shares of First Mid-Illinois Bancshares by 947.4% during the second quarter. LSV Asset Management now owns 5,300 shares of the bank’s stock worth $181,000 after buying an additional 4,794 shares in the last quarter. Finally, Voya Investment Management LLC purchased a new stake in shares of First Mid-Illinois Bancshares during the second quarter worth $201,000. 19.73% of the stock is owned by institutional investors and hedge funds.

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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