Zacks Investment Research Upgrades First Mid-Illinois Bancshares Inc. (FMBH) to “Hold”
First Mid-Illinois Bancshares Inc. (NASDAQ:FMBH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
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, Stephens assumed coverage on First Mid-Illinois Bancshares in a research note on Friday, August 26th. They issued an “overweight” rating on the stock.
Shares of First Mid-Illinois Bancshares (NASDAQ:FMBH) opened at 26.55 on Wednesday. The company has a market cap of $261.33 million, a P/E ratio of 14.44 and a beta of -0.33. The firm has a 50 day moving average price of $25.57 and a 200-day moving average price of $25.21. First Mid-Illinois Bancshares has a 12 month low of $21.35 and a 12 month high of $27.69.
In related news, Director Gary W. Melvin bought 9,869 shares of the stock in a transaction that occurred on Tuesday, September 20th. The shares were acquired at an average price of $25.59 per share, with a total value of $252,547.71. Following the completion of the transaction, the director now owns 618,755 shares in the company, valued at $15,833,940.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 19.30% of the stock is owned by corporate insiders.
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 subsidiary, First Mid-Illinois Bank & Trust, N.A. (First Mid Bank). It provides data processing services to affiliates through its subsidiary, Mid-Illinois Data Services, Inc It offers insurance products and services to customers through its subsidiary, The Checkley Agency, Inc, doing business as, First Mid Insurance Group (First Mid Insurance).
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