According to Zacks, “FIRST MIDWEST BANCORP, INC. is a multi-bank holding company engaged in commercial banking, trust, investment management, insurance, mortgage origination and servicing activities. “
FMBI has been the subject of several other research reports. Jefferies Group restated a buy rating and issued a $21.00 price target on shares of First Midwest Bancorp in a research note on Thursday, July 7th. Sterne Agee CRT initiated coverage on shares of First Midwest Bancorp in a research report on Sunday, June 12th. They set a hold rating for the company. Finally, Macquarie raised shares of First Midwest Bancorp from a neutral rating to an outperform rating in a research report on Thursday, June 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $19.36.
First Midwest Bancorp (NASDAQ:FMBI) traded down 0.46% during trading on Monday, hitting $19.53. The company had a trading volume of 32,875 shares. First Midwest Bancorp has a 52-week low of $14.56 and a 52-week high of $19.90. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 18.76 and a beta of 1.30. The firm’s 50 day moving average is $19.38 and its 200-day moving average is $18.48.
First Midwest Bancorp (NASDAQ:FMBI) last posted its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. First Midwest Bancorp had a net margin of 16.58% and a return on equity of 7.72%. During the same period in the prior year, the business earned $0.29 earnings per share. On average, equities analysts forecast that First Midwest Bancorp will post $1.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Friday, September 30th will be given a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.83%. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 34.29%.
Large investors have recently made changes to their positions in the stock. Foundry Partners LLC boosted its stake in shares of First Midwest Bancorp by 4.9% in the third quarter. Foundry Partners LLC now owns 391,024 shares of the financial services provider’s stock worth $7,570,000 after buying an additional 18,405 shares during the period. Macquarie Group Ltd. boosted its stake in shares of First Midwest Bancorp by 3.4% in the second quarter. Macquarie Group Ltd. now owns 2,273,163 shares of the financial services provider’s stock worth $39,917,000 after buying an additional 75,185 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of First Midwest Bancorp during the second quarter worth approximately $334,000. Mason Street Advisors LLC acquired a new stake in shares of First Midwest Bancorp during the second quarter worth approximately $279,000. Finally, Royal Bank of Canada boosted its stake in shares of First Midwest Bancorp by 60.9% in the second quarter. Royal Bank of Canada now owns 67,239 shares of the financial services provider’s stock worth $1,181,000 after buying an additional 25,448 shares during the last quarter. 82.14% of the stock is owned by hedge funds and other institutional investors.
First Midwest Bancorp Company Profile
First Midwest Bancorp, Inc is a bank holding company. The Company’s principal subsidiary, First Midwest Bank (the Bank), is an Illinois state-chartered bank and provides a range of banking, treasury and wealth management products and services, to commercial and industrial, commercial real estate, municipal and consumer customers.
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