First Mid-Illinois Bancshares Increases Authorized Shares

The latest announcement is out from First Mid-Illinois Bancshares ( (FMBH) ).

At the Annual Meeting of First Mid-Illinois Bancshares, held with a quorum of 86% of eligible votes, three directors were elected for three-year terms. Additionally, stockholders approved an amendment to increase the number of authorized shares of common stock from 30 million to 45 million and changes to the 2017 Stock Incentive Plan, including a name change, an increase in authorized shares, and an extension of the plan’s term to 2035.

Spark’s Take on FMBH Stock

According to Spark, TipRanks’ AI Analyst, FMBH is a Outperform.

First Mid-Illinois Bancshares receives a solid score based on its stable financial performance, positive technical indicators, and reasonable valuation. The company’s strong equity base and effective cash management support its financial health. Technical analysis suggests positive momentum, though caution is advised due to potential overbought conditions. Valuation metrics, including a moderate P/E ratio and attractive dividend yield, further bolster the stock’s attractiveness.

To see Spark’s full report on FMBH stock, click here.

More about First Mid-Illinois Bancshares

Average Trading Volume: 66,166

Technical Sentiment Signal: Buy

Current Market Cap: $861.2M

For a thorough assessment of FMBH stock, go to TipRanks’ Stock Analysis page.