LSV Asset Management trimmed its position in shares of First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) by 88.2% in the 3rd quarter, Holdings Channel reports. The fund owned 5,300 shares of the bank’s stock after selling 39,800 shares during the quarter. LSV Asset Management’s holdings in First Mid-Illinois Bancshares were worth $213,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Strs Ohio bought a new position in shares of First Mid-Illinois Bancshares during the second quarter valued at approximately $137,000. First Manhattan Co. purchased a new stake in First Mid-Illinois Bancshares in the second quarter worth approximately $157,000. MetLife Investment Advisors LLC boosted its holdings in First Mid-Illinois Bancshares by 37.2% in the second quarter. MetLife Investment Advisors LLC now owns 5,809 shares of the bank’s stock worth $228,000 after purchasing an additional 1,574 shares during the last quarter. Mackay Shields LLC purchased a new stake in First Mid-Illinois Bancshares in the second quarter worth approximately $241,000. Finally, Acadian Asset Management LLC bought a new position in First Mid-Illinois Bancshares in the second quarter worth approximately $245,000. 31.04% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the stock. ValuEngine downgraded shares of First Mid-Illinois Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. Zacks Investment Research cut shares of First Mid-Illinois Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Raymond James dropped their price target on shares of First Mid-Illinois Bancshares from $45.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday, October 30th. Finally, BidaskClub raised shares of First Mid-Illinois Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $43.50.
FMBH stock opened at $36.93 on Thursday. First Mid-Illinois Bancshares, Inc. has a 12 month low of $30.01 and a 12 month high of $42.46. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $542.29 million, a P/E ratio of 13.58, a PEG ratio of 1.40 and a beta of 0.23.
The business also recently disclosed a semiannual dividend, which was paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th were given a $0.36 dividend. This represents a yield of 2.02%. This is a boost from First Mid-Illinois Bancshares’s previous semiannual dividend of $0.34. The ex-dividend date of this dividend was Tuesday, November 6th. First Mid-Illinois Bancshares’s payout ratio is 32.14%.
In related news, CEO Clay M. Dean acquired 2,821 shares of the stock in a transaction on Friday, November 23rd. The stock was bought at an average cost of $35.45 per share, with a total value of $100,004.45. Following the transaction, the chief executive officer now directly owns 1,000 shares in the company, valued at $35,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.80% of the stock is owned by insiders.
First Mid-Illinois Bancshares 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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