First Mid-Illinois Bancshares, Inc. (FMBH)
NASDAQ:FMBH
Top Page
First Mid-Illinois Bancshares
(NASDAQ:FMBH)
Select Model
Select Model
Rating:73Outperform
Price Target:
$46.00
â–²(13.41% Upside)
Action:ReiteratedDate:03/03/26
The score is driven primarily by solid financial performance (strong revenue growth, healthy margins, and improved leverage) and attractive valuation (low P/E with a dividend). These positives are partly offset by weaker near-term technical momentum and some integration/financing risk from the completed Two Rivers acquisition.
Positive Factors
Revenue acceleration & profitability
Strong, sustained revenue acceleration alongside near-20% net margins and ~25% EBIT margin indicates durable loan growth and diversified fee income. A larger, profitable revenue base supports internal funding for growth, cushions credit cycles and provides a stable earnings foundation for reinvestment.
Negative Factors
Free cash flow volatility
A ~48% drop in FCF in 2025 highlights inconsistent cash conversion. Volatile free cash flow undermines predictable capital allocation, limits capacity to fund acquisitions or dividends from operations, and reduces the financial buffer available during credit stress or unexpected funding needs.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue acceleration & profitability
Strong, sustained revenue acceleration alongside near-20% net margins and ~25% EBIT margin indicates durable loan growth and diversified fee income. A larger, profitable revenue base supports internal funding for growth, cushions credit cycles and provides a stable earnings foundation for reinvestment.
Read all positive factors
First Mid-Illinois Bancshares (FMBH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$972.93M
Dividend Yield2.43%
Average Volume (3M)61.24K
Price to Earnings (P/E)10.1
Beta (1Y)0.82
Revenue Growth3.54%
EPS Growth12.23%
CountryUS
Employees1,194
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.99
Shares Outstanding24,082,480
10 Day Avg. Volume63,307
30 Day Avg. Volume61,237
Financial Highlights & Ratios
PEG Ratio0.63
Price to Book (P/B)0.97
Price to Sales (P/S)2.00
P/FCF Ratio7.51
Enterprise Value/Market Cap1.53
Enterprise Value/Revenue3.18
Enterprise Value/Gross Profit4.77
Enterprise Value/Ebitda11.25
Forecast
1Y Price Target
$46.00Price Target Upside13.41% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)4.15
Revenue Forecast (FY)$418.07M
First Mid-Illinois Bancshares Business Overview & Revenue Model
Company Description
First Mid Bancshares, Inc., a financial holding company, 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...
How the Company Makes Money
First Mid-Illinois Bancshares generates revenue primarily through interest income from loans and investments, as well as non-interest income from fees associated with various banking services. Key revenue streams include interest earned on commerc...
First Mid-Illinois Bancshares Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
78
Positive
Cash Flow
64
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 466.04M | 447.28M | 381.63M | 286.27M | 249.66M |
| Gross Profit | 339.30M | 313.00M | 268.82M | 249.85M | 219.25M |
| EBITDA | 117.05M | 125.17M | 103.31M | 106.35M | 81.24M |
| Net Income | 91.75M | 78.90M | 68.94M | 72.95M | 51.49M |
Balance Sheet | |||||
| Total Assets | 7.97B | 7.52B | 7.59B | 6.74B | 5.99B |
| Cash, Cash Equivalents and Short-Term Investments | 57.30M | 1.19B | 1.31B | 1.37B | 1.59B |
| Total Debt | 564.39M | 572.58M | 622.94M | 816.44M | 361.63M |
| Total Liabilities | 7.01B | 6.67B | 6.79B | 6.11B | 5.35B |
| Stockholders Equity | 958.69M | 846.39M | 793.20M | 633.15M | 633.89M |
Cash Flow | |||||
| Free Cash Flow | 124.03M | 119.48M | 68.78M | 60.80M | 65.89M |
| Operating Cash Flow | 130.87M | 124.42M | 72.42M | 65.82M | 69.60M |
| Investing Cash Flow | -302.63M | -7.51M | 474.38M | -178.69M | -482.50M |
| Financing Cash Flow | 305.45M | -138.76M | -556.17M | 96.69M | 164.22M |
First Mid-Illinois Bancshares Technical Analysis
Positive
40.56
Price Trends
41.64
Negative
40.07
Positive
38.80
Positive
Market Momentum
-0.57
Negative
48.99
Neutral
60.69
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FMBH, the sentiment is Positive. The current price of 40.56 is above the 20-day moving average (MA) of 40.43, below the 50-day MA of 41.64, and above the 200-day MA of 38.80, indicating a neutral trend. The MACD of -0.57 indicates Negative momentum. The RSI at 48.99 is Neutral, neither overbought nor oversold. The STOCH value of 60.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FMBH.
First Mid-Illinois Bancshares Risk Analysis
First Mid-Illinois Bancshares disclosed 22 risk factors in its most recent earnings report. First Mid-Illinois Bancshares reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
First Mid-Illinois Bancshares Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $932.00M | 16.46 | 18.78% | 0.66% | 17.98% | 14.35% | |
73 Outperform | $972.93M | 10.15 | 9.74% | 2.43% | 3.54% | 12.23% | |
70 Outperform | $948.94M | 10.37 | 9.82% | 2.59% | 4.49% | 20.44% | |
68 Neutral | $1.04B | 8.92 | 10.11% | 1.24% | 10.42% | -18.32% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $1.10B | 6.42 | 11.20% | 3.39% | 9.55% | 27.32% | |
53 Neutral | $914.96M | 10.81 | 8.53% | 4.59% | -4.08% | -16.80% |
* Financial Sector Average
FMBH
First Mid-Illinois Bancshares
40.56
6.01
17.40%
OSBC
Old Second Bancorp
19.74
3.08
18.46%
SBSI
Southside Bancshares
30.77
2.38
8.39%
TMP
Tompkins Financial Corporation
76.17
14.31
23.13%
UVSP
Univest Of Pennsylvania
33.80
5.33
18.74%
ESQ
Esquire Financial Holdings
108.28
33.16
44.14%
First Mid-Illinois Bancshares Corporate Events
Business Operations and StrategyM&A Transactions
First Mid-Illinois Completes Two Rivers Acquisition and Integration
Positive
Mar 2, 2026
First Mid Bancshares, Inc., a community-focused financial services holding company, has expanded its footprint through subsidiaries that provide banking, wealth management, brokerage, agricultural services, and insurance. Its network spans Illinoi...
Business Operations and StrategyM&A TransactionsShareholder Meetings
First Mid-Illinois Moves Forward With Two Rivers Merger
Positive
Feb 25, 2026
First Mid Bancshares, Inc. and its wholly-owned subsidiary Star Sub LLC entered into a merger agreement on October 29, 2025, to acquire all outstanding shares of Iowa-based Two Rivers Financial Group, Inc. through a business combination in which T...
Business Operations and StrategyM&A TransactionsPrivate Placements and FinancingRegulatory Filings and Compliance
First Mid-Illinois Bancshares Amends Credit Facility for Merger
Positive
Feb 20, 2026
On February 19, 2026, First Mid Bancshares, Inc. entered into a Tenth Amendment to its Sixth Amended and Restated Credit Agreement with The Northern Trust Company, which evidences a $15 million revolving loan facility. Under this amendment, Northe...
Business Operations and StrategyM&A Transactions
First Mid-Illinois Bancshares secures approvals for Two Rivers merger
Positive
Jan 2, 2026
On October 29, 2025, First Mid Bancshares, Inc. entered into a merger agreement to acquire 100% of the shares of Two Rivers Financial Group, Inc. via a business combination in which Two Rivers will merge into a newly formed, wholly owned Iowa subs...
Business Operations and StrategyM&A TransactionsRegulatory Filings and Compliance
First Mid-Illinois Bancshares gains key approval for Iowa acquisition
Positive
Dec 30, 2025
On October 29, 2025, First Mid Bancshares, Inc. entered into a merger agreement to acquire 100% of the shares of Iowa-based Two Rivers Financial Group, Inc. via a business combination in which Two Rivers will merge into a newly formed, wholly owne...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.