First Mid-Illinois Bancshares Inc. (FMBH) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of First Mid-Illinois Bancshares Inc. (NASDAQ:FMBH) from a sell rating to a hold rating in a report published on Wednesday.

According to Zacks, “First Mid-Illinois Bancshares, Inc. is a financial holding company. The Company is engaged in the business of banking through its wholly owned subsidiary, First Mid-Illinois Bank & Trust, N.A. It operates in three lines of business: community banking and wealth management through First Mid Bank, and insurance brokerage through First Mid Insurance Group. The company’s deposit products include demand, savings, money market, and time deposits, as well as NOW accounts. Its loan portfolio primarily comprise commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans. The company also offers estate planning, investment, and farm management services; and employee benefit services. In addition, it provides commercial lines insurance to businesses; and homeowner, automobile, and other types of personal lines insurance to individuals. First Mid-Illinois Bancshares, Inc is headquartered in Mattoon, Illinois. “

Separately, Stephens assumed coverage on First Mid-Illinois Bancshares in a research note on Friday, August 26th. They set an overweight rating for the company.

First Mid-Illinois Bancshares (NASDAQ:FMBH) remained flat at $26.36 on Wednesday. The company had a trading volume of 91 shares. The firm has a 50 day moving average of $25.60 and a 200 day moving average of $25.22. The stock has a market cap of $259.46 million, a P/E ratio of 14.33 and a beta of -0.33. First Mid-Illinois Bancshares has a 52-week low of $21.35 and a 52-week high of $27.69.

In other news, Director Gary W. Melvin purchased 9,869 shares of the company’s stock in a transaction on Tuesday, September 20th. The stock was bought at an average cost of $25.59 per share, for a total transaction of $252,547.71. Following the completion of the purchase, the director now directly owns 618,755 shares of the company’s stock, valued at approximately $15,833,940.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 19.30% of the company’s stock.

First Mid-Illinois Bancshares Company Profile

First Mid-Illinois Bancshares, Inc is a financial holding company. The Company is engaged in the business of banking through its subsidiary, First Mid-Illinois Bank & Trust, N.A. (First Mid Bank). It provides data processing services to affiliates through its subsidiary, Mid-Illinois Data Services, Inc It offers insurance products and services to customers through its subsidiary, The Checkley Agency, Inc, doing business as, First Mid Insurance Group (First Mid Insurance).

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