KCG Holdings Inc. reduced its stake in First Midwest Bancorp, Inc. (NASDAQ:FMBI) by 12.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,458 shares of the financial services provider’s stock after selling 3,370 shares during the period. KCG Holdings Inc.’s holdings in First Midwest Bancorp were worth $555,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FMBI. Victory Capital Management Inc. raised its position in First Midwest Bancorp by 13.6% in the first quarter. Victory Capital Management Inc. now owns 6,683 shares of the financial services provider’s stock valued at $158,000 after buying an additional 801 shares during the period. Ameritas Investment Partners Inc. acquired a new position in First Midwest Bancorp during the first quarter valued at approximately $177,000. Envestnet Asset Management Inc. raised its position in First Midwest Bancorp by 1.6% in the first quarter. Envestnet Asset Management Inc. now owns 8,560 shares of the financial services provider’s stock valued at $203,000 after buying an additional 136 shares during the period. State of Alaska Department of Revenue raised its position in First Midwest Bancorp by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 8,950 shares of the financial services provider’s stock valued at $211,000 after buying an additional 150 shares during the period. Finally, IFP Advisors Inc raised its position in First Midwest Bancorp by 0.3% in the first quarter. IFP Advisors Inc now owns 9,012 shares of the financial services provider’s stock valued at $213,000 after buying an additional 25 shares during the period. 73.56% of the stock is owned by institutional investors.

First Midwest Bancorp, Inc. (FMBI) traded up 0.86% on Friday, reaching $22.22. 327,643 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 19.06 and a beta of 1.14. First Midwest Bancorp, Inc. has a 12 month low of $18.36 and a 12 month high of $25.83. The firm has a 50-day moving average of $23.24 and a 200-day moving average of $23.47.

First Midwest Bancorp (NASDAQ:FMBI) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.01. The business had revenue of $162.53 million during the quarter, compared to the consensus estimate of $164.02 million. First Midwest Bancorp had a net margin of 17.30% and a return on equity of 7.81%. During the same period last year, the business posted $0.32 EPS. On average, equities analysts expect that First Midwest Bancorp, Inc. will post $1.30 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 11th. Stockholders of record on Friday, June 30th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Wednesday, June 28th. This is a positive change from First Midwest Bancorp’s previous quarterly dividend of $0.09. First Midwest Bancorp’s dividend payout ratio (DPR) is 34.19%.

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Several research analysts have recently commented on the stock. BidaskClub raised shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Zacks Investment Research raised shares of First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Friday, July 7th. FIG Partners lowered shares of First Midwest Bancorp from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $26.00 to $25.00 in a report on Thursday, July 27th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $27.00 price target on shares of First Midwest Bancorp in a report on Sunday, June 11th. Finally, Piper Jaffray Companies raised shares of First Midwest Bancorp from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $25.00 to $26.00 in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. First Midwest Bancorp currently has a consensus rating of “Hold” and a consensus price target of $26.17.

In other First Midwest Bancorp news, Director Thomas Lynn Brown bought 3,000 shares of First Midwest Bancorp stock in a transaction dated Tuesday, June 13th. The shares were bought at an average price of $24.06 per share, with a total value of $72,180.00. Following the purchase, the director now owns 3,000 shares of the company’s stock, valued at $72,180. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.48% of the stock is currently owned by company 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.

Institutional Ownership by Quarter for First Midwest Bancorp (NASDAQ:FMBI)

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