First Midwest Bancorp Inc. (FMBI) Given Market Perform Rating at Keefe, Bruyette & Woods
Several other brokerages have also recently commented on FMBI. Zacks Investment Research cut shares of First Midwest Bancorp from a hold rating to a sell rating in a research note on Monday. Jefferies Group reiterated a buy rating and issued a $21.00 price target on shares of First Midwest Bancorp in a research note on Thursday, July 7th. Finally, Macquarie upgraded shares of First Midwest Bancorp from a neutral rating to an outperform rating in a research note on Thursday, June 30th. One 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. First Midwest Bancorp has a consensus rating of Hold and an average target price of $19.36.
Shares of First Midwest Bancorp (NASDAQ:FMBI) traded down 2.73% during mid-day trading on Wednesday, reaching $18.86. 92,832 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $19.39 and a 200 day moving average price of $18.49. The firm has a market capitalization 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.
First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.31 EPS for the quarter, topping the 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 company posted $0.29 EPS. Analysts anticipate that First Midwest Bancorp will post $1.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 11th. Investors of record on Friday, September 30th were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, September 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.86%. First Midwest Bancorp’s payout ratio is 34.29%.
A number of large investors have recently bought and sold shares of FMBI. Victory Capital Management Inc. boosted 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 during the last quarter. BlackRock Inc. boosted its position 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 boosted its position 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. boosted its position 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 bought a new position in First Midwest Bancorp during the second quarter worth about $186,000. 82.14% of the stock is owned by 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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