Foundry Partners LLC Buys 18,405 Shares of First Midwest Bancorp Inc. (FMBI)
Foundry Partners LLC increased its position in First Midwest Bancorp Inc. (NASDAQ:FMBI) by 4.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 391,024 shares of the financial services provider’s stock after buying an additional 18,405 shares during the period. Foundry Partners LLC owned approximately 0.48% of First Midwest Bancorp worth $7,570,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. raised 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. raised 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. PineBridge Investments L.P. raised 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. Neuberger Berman Group LLC bought a new stake in First Midwest Bancorp during the second quarter worth $186,000. Finally, Tower Research Capital LLC TRC raised its stake in First Midwest Bancorp by 1,223.9% in the second quarter. Tower Research Capital LLC TRC now owns 10,975 shares of the financial services provider’s stock worth $193,000 after buying an additional 10,146 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.
First Midwest Bancorp Inc. (NASDAQ:FMBI) opened at 23.94 on Friday. First Midwest Bancorp Inc. has a 1-year low of $14.56 and a 1-year high of $23.98. The firm has a market cap of $1.95 billion, a P/E ratio of 21.74 and a beta of 1.12. The firm has a 50-day moving average of $20.08 and a 200 day moving average of $18.90.
First Midwest Bancorp (NASDAQ:FMBI) last issued its earnings results on Tuesday, October 18th. The financial services provider reported $0.32 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.32. First Midwest Bancorp had a net margin of 16.72% and a return on equity of 7.71%. During the same period in the prior year, the firm posted $0.30 EPS. On average, analysts predict that First Midwest Bancorp Inc. will post $1.22 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 10th. Stockholders of record on Friday, December 23rd will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Wednesday, December 21st. First Midwest Bancorp’s dividend payout ratio is presently 32.73%.
A number of brokerages recently commented on FMBI. Zacks Investment Research upgraded shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 21st. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of First Midwest Bancorp in a research note on Wednesday, October 12th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.36.
In other First Midwest Bancorp news, Director Kathryn Hayley bought 16,000 shares of the business’s stock in a transaction dated Thursday, October 27th. The shares were acquired at an average price of $19.40 per share, with a total value of $310,400.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 2.48% of the stock is currently owned by insiders.
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.
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