ValuEngine cut 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 morning.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research lowered First Mid-Illinois Bancshares from a buy rating to a hold rating in a research report on Friday, November 2nd. Raymond James cut their target price on First Mid-Illinois Bancshares from $45.00 to $42.00 and set an outperform rating on the stock in a research report on Tuesday, October 30th. Finally, BidaskClub raised First Mid-Illinois Bancshares from a sell rating to a hold rating in a research report on Tuesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $43.50.

Shares of NASDAQ FMBH opened at $37.06 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.30. First Mid-Illinois Bancshares has a fifty-two week low of $30.01 and a fifty-two week high of $42.46. The stock has a market cap of $574.94 million, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.45 and a beta of 0.23.

The company also recently declared a semiannual dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th will be given a dividend of $0.36 per share. This is a positive change from First Mid-Illinois Bancshares’s previous semiannual dividend of $0.34. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a yield of 2.02%. First Mid-Illinois Bancshares’s payout ratio is 32.14%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in First Mid-Illinois Bancshares by 3.8% during the third quarter. BlackRock Inc. now owns 626,900 shares of the bank’s stock worth $25,283,000 after buying an additional 23,120 shares during the period. Thomson Horstmann & Bryant Inc. increased its position in First Mid-Illinois Bancshares by 34.4% during the third quarter. Thomson Horstmann & Bryant Inc. now owns 115,252 shares of the bank’s stock worth $4,648,000 after buying an additional 29,510 shares during the period. Bank of New York Mellon Corp increased its position in First Mid-Illinois Bancshares by 5.5% during the third quarter. Bank of New York Mellon Corp now owns 71,405 shares of the bank’s stock worth $2,879,000 after buying an additional 3,718 shares during the period. Alpine Woods Capital Investors LLC acquired a new position in First Mid-Illinois Bancshares during the third quarter worth approximately $202,000. Finally, SG Americas Securities LLC acquired a new position in First Mid-Illinois Bancshares during the third quarter worth approximately $162,000. 30.19% of the stock is currently owned by institutional investors.

First Mid-Illinois Bancshares Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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