First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) Expected to Announce Earnings of $0.69 Per Share
Wall Street analysts predict that First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) will post earnings of $0.69 per share for the current quarter, Zacks reports. Two analysts have provided estimates for First Mid-Illinois Bancshares’ earnings, with estimates ranging from $0.66 to $0.72. First Mid-Illinois Bancshares posted earnings of $0.62 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.3%. The business is scheduled to announce its next quarterly earnings results on Thursday, January 23rd.
According to Zacks, analysts expect that First Mid-Illinois Bancshares will report full year earnings of $2.86 per share for the current fiscal year, with EPS estimates ranging from $2.81 to $2.93. For the next fiscal year, analysts forecast that the firm will post earnings of $2.75 per share, with EPS estimates ranging from $2.70 to $2.79. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow First Mid-Illinois Bancshares.
First Mid-Illinois Bancshares (NASDAQ:FMBH) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.70 earnings per share for the quarter, missing the 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.
In other news, Director Ray A. Sparks sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 272,858 shares of the company’s stock, valued at $9,640,073.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ray A. Sparks sold 814 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $35.00, for a total transaction of $28,490.00. Following the sale, the director now directly owns 218,644 shares of the company’s stock, valued at $7,652,540. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,588 shares of company stock valued at $1,883,334. 13.60% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY boosted its holdings in First Mid-Illinois Bancshares by 10.2% during the third quarter. Metropolitan Life Insurance Co NY now owns 4,724 shares of the bank’s stock worth $164,000 after purchasing an additional 439 shares during the last quarter. Zebra Capital Management LLC boosted its holdings in First Mid-Illinois Bancshares by 9.7% during the second quarter. Zebra Capital Management LLC now owns 7,640 shares of the bank’s stock worth $267,000 after purchasing an additional 678 shares during the last quarter. Rhumbline Advisers boosted its holdings in First Mid-Illinois Bancshares by 9.6% during the third quarter. Rhumbline Advisers now owns 21,329 shares of the bank’s stock worth $738,000 after purchasing an additional 1,860 shares during the last quarter. California Public Employees Retirement System boosted its holdings in First Mid-Illinois Bancshares by 13.6% during the third quarter. California Public Employees Retirement System now owns 23,491 shares of the bank’s stock worth $813,000 after purchasing an additional 2,815 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in First Mid-Illinois Bancshares during the third quarter worth about $133,000. Institutional investors and hedge funds own 31.68% of the company’s stock.
FMBH traded down $0.40 during midday trading on Thursday, hitting $34.46. The company had a trading volume of 16,376 shares, compared to its average volume of 18,954. First Mid-Illinois Bancshares has a 52 week low of $30.20 and a 52 week high of $36.45. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $580.95 million, a price-to-earnings ratio of 12.40 and a beta of 0.49. The stock’s 50 day moving average price is $35.12 and its 200 day moving average price is $34.20.
First Mid-Illinois Bancshares Company Profile
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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