Zacks: Brokerages Anticipate First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) Will Post Earnings of $0.72 Per Share
Brokerages expect First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) to report $0.72 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for First Mid-Illinois Bancshares’ earnings, with estimates ranging from $0.70 to $0.74. First Mid-Illinois Bancshares reported earnings per share of $0.80 during the same quarter last year, which would suggest a negative year over year growth rate of 10%. The firm is scheduled to announce its next earnings report on Wednesday, April 22nd.
According to Zacks, analysts expect that First Mid-Illinois Bancshares will report full year earnings of $2.74 per share for the current year, with EPS estimates ranging from $2.65 to $2.77. For the next year, analysts expect that the firm will post earnings of $2.88 per share, with EPS estimates ranging from $2.85 to $2.91. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow First Mid-Illinois Bancshares.
First Mid-Illinois Bancshares (NASDAQ:FMBH) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.03. First Mid-Illinois Bancshares had a net margin of 23.30% and a return on equity of 9.41%. The company had revenue of $45.86 million for the quarter, compared to analysts’ expectations of $44.00 million.
In related news, Director Ray A. Sparks sold 36,549 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $36.07, for a total value of $1,318,322.43. Following the sale, the director now directly owns 229,309 shares of the company’s stock, valued at $8,271,175.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ray A. Sparks sold 814 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $35.00, for a total transaction of $28,490.00. Following the completion of the sale, the director now directly owns 218,644 shares in the company, valued at $7,652,540. The disclosure for this sale can be found here. Insiders sold 52,539 shares of company stock worth $1,881,583 over the last three months. Corporate insiders own 13.60% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY raised its holdings in First Mid-Illinois Bancshares by 10.2% in the third quarter. Metropolitan Life Insurance Co NY now owns 4,724 shares of the bank’s stock valued at $164,000 after buying an additional 439 shares during the period. Swiss National Bank raised its holdings in First Mid-Illinois Bancshares by 3.2% in the fourth quarter. Swiss National Bank now owns 25,500 shares of the bank’s stock valued at $899,000 after buying an additional 800 shares during the period. Citigroup Inc. raised its holdings in First Mid-Illinois Bancshares by 72.4% in the fourth quarter. Citigroup Inc. now owns 3,099 shares of the bank’s stock valued at $109,000 after buying an additional 1,301 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in First Mid-Illinois Bancshares by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 85,586 shares of the bank’s stock valued at $3,017,000 after buying an additional 1,659 shares during the period. Finally, Great West Life Assurance Co. Can purchased a new position in First Mid-Illinois Bancshares in the fourth quarter valued at approximately $59,000. 31.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of First Mid-Illinois Bancshares stock traded down $0.61 during mid-day trading on Friday, hitting $32.72. 11,569 shares of the stock were exchanged, compared to its average volume of 18,593. First Mid-Illinois Bancshares has a twelve month low of $30.20 and a twelve month high of $36.45. The stock has a market capitalization of $555.44 million, a price-to-earnings ratio of 11.36 and a beta of 0.54. The company has a 50-day simple moving average of $34.20 and a 200 day simple moving average of $34.13. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23.
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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