First Midwest Bancorp, Inc. (FMBI) Position Held by QS Investors LLC
QS Investors LLC held its position in shares of First Midwest Bancorp, Inc. (NASDAQ:FMBI) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 204,241 shares of the financial services provider’s stock at the close of the second quarter. QS Investors LLC owned about 0.20% of First Midwest Bancorp worth $4,761,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of FMBI. Brandywine Global Investment Management LLC raised its position in First Midwest Bancorp by 15.0% during the second quarter. Brandywine Global Investment Management LLC now owns 294,478 shares of the financial services provider’s stock worth $6,865,000 after acquiring an additional 38,335 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of First Midwest Bancorp by 20.4% in the second quarter. Voya Investment Management LLC now owns 42,818 shares of the financial services provider’s stock valued at $998,000 after purchasing an additional 7,266 shares in the last quarter. Ramsey Quantitative Systems purchased a new stake in shares of First Midwest Bancorp in the second quarter valued at about $620,000. Parametric Portfolio Associates LLC lifted its holdings in shares of First Midwest Bancorp by 15.4% in the second quarter. Parametric Portfolio Associates LLC now owns 190,758 shares of the financial services provider’s stock valued at $4,447,000 after purchasing an additional 25,470 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of First Midwest Bancorp by 36.1% in the second quarter. Nordea Investment Management AB now owns 83,332 shares of the financial services provider’s stock valued at $1,942,000 after purchasing an additional 22,088 shares in the last quarter. Hedge funds and other institutional investors own 80.94% of the company’s stock.
Several research firms have recently commented on FMBI. Jefferies Group LLC reiterated a “buy” rating and issued a $27.00 price target on shares of First Midwest Bancorp in a research report on Friday, August 11th. Zacks Investment Research upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Friday, July 7th. ValuEngine upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. BidaskClub raised First Midwest Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, FIG Partners lowered First Midwest Bancorp from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $26.00 to $25.00 in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. First Midwest Bancorp has an average rating of “Hold” and a consensus target price of $26.17.
Shares of First Midwest Bancorp, Inc. (NASDAQ:FMBI) opened at 23.41 on Monday. First Midwest Bancorp, Inc. has a 1-year low of $18.75 and a 1-year high of $25.83. The firm has a market capitalization of $2.41 billion, a PE ratio of 20.08 and a beta of 1.15. The firm’s 50 day moving average is $21.47 and its 200 day moving average is $22.74.
First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). The company had revenue of $162.53 million during the quarter, compared to analysts’ expectations of $164.02 million. First Midwest Bancorp had a return on equity of 7.81% and a net margin of 17.30%. During the same period in the prior year, the business posted $0.32 EPS. Analysts anticipate that First Midwest Bancorp, Inc. will post $1.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, September 28th. First Midwest Bancorp’s dividend payout ratio is presently 34.19%.
In other First Midwest Bancorp news, Director Patrick J. Mcdonnell sold 3,500 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $21.85, for a total transaction of $76,475.00. Following the completion of the sale, the director now directly owns 24,237 shares of the company’s stock, valued at $529,578.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.69% of the stock is currently owned by corporate insiders.
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First Midwest Bancorp 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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