First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) Director Ray A. Sparks sold 10,000 shares of First Mid-Illinois Bancshares stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $35.33, for a total transaction of $353,300.00. Following the completion of the transaction, the director now directly owns 272,858 shares in the company, valued at approximately $9,640,073.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

FMBH traded down $0.10 during trading on Friday, reaching $35.51. The company had a trading volume of 25,900 shares, compared to its average volume of 24,847. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.86 and a quick ratio of 0.86. First Mid-Illinois Bancshares, Inc. has a 12 month low of $30.20 and a 12 month high of $36.45. The business’s fifty day moving average price is $35.13 and its 200 day moving average price is $33.95. The company has a market cap of $593.79 million, a P/E ratio of 13.00 and a beta of 0.50.

First Mid-Illinois Bancshares (NASDAQ:FMBH) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.01). First Mid-Illinois Bancshares had a net margin of 22.75% and a return on equity of 9.16%. The company had revenue of $44.04 million during the quarter, compared to the consensus estimate of $44.55 million. As a group, sell-side analysts predict that First Mid-Illinois Bancshares, Inc. will post 2.86 EPS for the current fiscal year.

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.40 dividend. This represents a dividend yield of 2.1%. The ex-dividend date is Wednesday, November 27th. This is a positive change from First Mid-Illinois Bancshares’s previous Semi-Annual dividend of $0.05. First Mid-Illinois Bancshares’s payout ratio is currently 29.30%.

A number of research analysts have weighed in on FMBH shares. BidaskClub lowered shares of First Mid-Illinois Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Raymond James cut their price target on shares of First Mid-Illinois Bancshares from $40.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Zacks Investment Research raised shares of First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. ValuEngine raised shares of First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, DA Davidson reaffirmed a “buy” rating on shares of First Mid-Illinois Bancshares in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. First Mid-Illinois Bancshares has an average rating of “Hold” and an average target price of $38.00.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of First Mid-Illinois Bancshares by 13.8% in the second quarter. BlackRock Inc. now owns 760,095 shares of the bank’s stock worth $26,542,000 after purchasing an additional 92,276 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of First Mid-Illinois Bancshares by 6.9% in the second quarter. Vanguard Group Inc. now owns 551,437 shares of the bank’s stock worth $19,256,000 after purchasing an additional 35,702 shares in the last quarter. State Street Corp lifted its position in shares of First Mid-Illinois Bancshares by 7.5% in the third quarter. State Street Corp now owns 302,593 shares of the bank’s stock worth $10,476,000 after purchasing an additional 21,115 shares in the last quarter. Northern Trust Corp lifted its position in shares of First Mid-Illinois Bancshares by 5.0% in the second quarter. Northern Trust Corp now owns 151,436 shares of the bank’s stock worth $5,288,000 after purchasing an additional 7,258 shares in the last quarter. Finally, GW&K Investment Management LLC bought a new stake in shares of First Mid-Illinois Bancshares in the second quarter worth $4,766,000. 31.68% of the stock is currently owned by institutional investors and hedge funds.

About First Mid-Illinois Bancshares

First Mid Bancshares, Inc, through its subsidiaries, provides community banking products and services to commercial, retail, and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits, and time deposits. The company's loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.

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