First Midwest Bancorp Inc. (NASDAQ:FMBI) – Jefferies Group reduced their Q4 2016 earnings per share (EPS) estimates for First Midwest Bancorp in a note issued to investors on Tuesday. Jefferies Group analyst E. Harmon now forecasts that the firm will post earnings per share of $0.32 for the quarter, down from their prior forecast of $0.34. Jefferies Group has a “Buy” rating and a $21.00 price objective on the stock. Jefferies Group also issued estimates for First Midwest Bancorp’s Q1 2017 earnings at $0.30 EPS, Q2 2017 earnings at $0.35 EPS, Q3 2017 earnings at $0.36 EPS and Q4 2017 earnings at $0.38 EPS.
First Midwest Bancorp (NASDAQ:FMBI) last released its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.31 earnings per share for the quarter, topping the Zacks’ 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 previous year, the firm posted $0.29 EPS.
A number of other equities analysts have also commented on FMBI. Macquarie raised shares of First Midwest Bancorp from a “neutral” rating to an “outperform” rating in a research report on Thursday, June 30th. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of First Midwest Bancorp in a research report on Wednesday. Finally, Zacks Investment Research lowered shares of First Midwest Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $19.36.
First Midwest Bancorp (NASDAQ:FMBI) traded down 2.73% during mid-day trading on Thursday, hitting $18.86. 172,284 shares of the company were exchanged. The stock’s 50 day moving average is $19.39 and its 200-day moving average is $18.49. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 18.12 and a beta of 1.30. First Midwest Bancorp has a 12-month low of $14.56 and a 12-month high of $19.90.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 11th. Shareholders of record on Friday, September 30th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.86%. First Midwest Bancorp’s dividend payout ratio is currently 34.29%.
Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in First Midwest Bancorp by 77.3% in the second quarter. Victory Capital Management Inc. now owns 5,833 shares of the financial services provider’s stock worth $102,000 after buying an additional 2,544 shares in the last quarter. BlackRock Inc. increased its stake in First Midwest Bancorp by 62.1% in the first quarter. BlackRock Inc. now owns 7,946 shares of the financial services provider’s stock worth $143,000 after buying an additional 3,044 shares in the last quarter. IFP Advisors Inc increased its stake in First Midwest Bancorp by 0.3% in the first quarter. IFP Advisors Inc now owns 8,907 shares of the financial services provider’s stock worth $161,000 after buying an additional 23 shares in the last quarter. PineBridge Investments L.P. increased its stake in First Midwest Bancorp by 7.8% in the second quarter. PineBridge Investments L.P. now owns 10,314 shares of the financial services provider’s stock worth $181,000 after buying an additional 743 shares in the last quarter. Finally, Neuberger Berman Group LLC acquired a new stake in First Midwest Bancorp during the second quarter worth $186,000. Hedge funds and other institutional investors own 82.14% of the company’s stock.
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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