First Mid-Illinois Bancshares (FMBH) Rating Lowered to Sell at ValuEngine

ValuEngine lowered shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

FMBH has been the subject of a number of other reports. Raymond James lowered their target price on First Mid-Illinois Bancshares from $45.00 to $42.00 and set an outperform rating for the company in a report on Tuesday, October 30th. BidaskClub upgraded First Mid-Illinois Bancshares from a sell rating to a hold rating in a report on Thursday, September 27th. Finally, Zacks Investment Research cut First Mid-Illinois Bancshares from a buy rating to a hold rating in a report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $43.50.

Shares of First Mid-Illinois Bancshares stock opened at $37.06 on Tuesday. First Mid-Illinois Bancshares has a 12 month low of $30.01 and a 12 month high of $42.46. The stock has a market cap of $574.94 million, a P/E ratio of 16.54, a PEG ratio of 1.45 and a beta of 0.23. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.87 and a quick ratio of 0.87.

The company also recently announced a semiannual dividend, which will be paid on Wednesday, November 14th. Investors of record on Wednesday, November 7th will be issued a dividend of $0.36 per share. This represents a yield of 2.02%. This is a boost from First Mid-Illinois Bancshares’s previous semiannual dividend of $0.34. The ex-dividend date is Tuesday, November 6th. First Mid-Illinois Bancshares’s dividend payout ratio (DPR) is 32.14%.

Several institutional investors and hedge funds have recently made changes to their positions in FMBH. Strs Ohio purchased a new position in shares of First Mid-Illinois Bancshares in the 2nd quarter valued at about $137,000. First Manhattan Co. purchased a new position in shares of First Mid-Illinois Bancshares in the 2nd quarter valued at about $157,000. SG Americas Securities LLC purchased a new position in shares of First Mid-Illinois Bancshares in the 3rd quarter valued at about $162,000. Alpine Woods Capital Investors LLC purchased a new position in shares of First Mid-Illinois Bancshares in the 3rd quarter valued at about $202,000. Finally, MetLife Investment Advisors LLC boosted its stake in shares of First Mid-Illinois Bancshares by 37.2% in the 2nd quarter. MetLife Investment Advisors LLC now owns 5,809 shares of the bank’s stock valued at $228,000 after buying an additional 1,574 shares during the period. Institutional investors and hedge funds own 30.19% of the company’s stock.

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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