First Midwest Bancorp Inc. (NASDAQ:FMBI) – Research analysts at Jefferies Group reduced their Q4 2016 EPS estimates for shares of First Midwest Bancorp in a report issued on Tuesday. Jefferies Group analyst E. Harmon now forecasts that the brokerage will post earnings of $0.32 per share for the quarter, down from their previous estimate of $0.34. Jefferies Group has a “Buy” rating and a $21.00 price target 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 posted its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company posted $0.29 earnings per share.

Earnings History and Estimates for First Midwest Bancorp (NASDAQ:FMBI)

Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Friday, July 1st. Keefe, Bruyette & Woods restated a “market perform” rating on shares of First Midwest Bancorp in a research report on Wednesday. Finally, Macquarie upgraded shares of First Midwest Bancorp from a “neutral” rating to an “outperform” rating in a research report on Thursday, June 30th. One equities 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. First Midwest Bancorp has an average rating of “Hold” and a consensus target price of $19.36.

Shares of First Midwest Bancorp (NASDAQ:FMBI) opened at 19.05 on Thursday. The company has a market capitalization of $1.55 billion, a P/E ratio of 18.30 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 stock’s 50 day moving average is $19.37 and its 200-day moving average is $18.50.

Several hedge funds have recently made changes to their positions in the company. Glenmede Trust Co. NA boosted its stake in shares of First Midwest Bancorp by 0.4% in the first quarter. Glenmede Trust Co. NA now owns 25,786 shares of the financial services provider’s stock worth $462,000 after buying an additional 110 shares during the period. Nisa Investment Advisors L.L.C. boosted its stake in shares of First Midwest Bancorp by 29.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 70,300 shares of the financial services provider’s stock worth $1,267,000 after buying an additional 16,000 shares during the period. IFP Advisors Inc boosted its stake in shares of 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 during the period. Teachers Advisors Inc. boosted its stake in shares of First Midwest Bancorp by 295.2% in the first quarter. Teachers Advisors Inc. now owns 778,365 shares of the financial services provider’s stock worth $14,026,000 after buying an additional 581,401 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of 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 during the period. 82.14% of the stock is owned by hedge funds and other institutional investors.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 11th. Shareholders of record on Friday, September 30th were given a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $0.36 annualized dividend and a yield of 1.89%. First Midwest Bancorp’s payout ratio is presently 34.29%.

About First Midwest Bancorp

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.

5 Day Chart for NASDAQ:FMBI

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