Amalgamated Bank Boosts Position in First Midwest Bancorp, Inc. (FMBI)
Amalgamated Bank increased its position in shares of First Midwest Bancorp, Inc. (NASDAQ:FMBI) by 27.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,902 shares of the financial services provider’s stock after acquiring an additional 2,994 shares during the period. Amalgamated Bank’s holdings in First Midwest Bancorp were worth $324,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of FMBI. UBS Asset Management Americas Inc. lifted its stake in First Midwest Bancorp by 60.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 46,196 shares of the financial services provider’s stock worth $1,094,000 after acquiring an additional 17,484 shares in the last quarter. Karp Capital Management Corp acquired a new stake in First Midwest Bancorp in the 1st quarter valued at about $543,000. Sei Investments Co. raised its position in First Midwest Bancorp by 16,807.6% in the 1st quarter. Sei Investments Co. now owns 70,843 shares of the financial services provider’s stock valued at $1,678,000 after purchasing an additional 70,424 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in First Midwest Bancorp by 5.2% in the 1st quarter. Parametric Portfolio Associates LLC now owns 165,288 shares of the financial services provider’s stock valued at $3,914,000 after purchasing an additional 8,171 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in First Midwest Bancorp in the 1st quarter valued at about $177,000. 80.94% of the stock is currently owned by hedge funds and other institutional investors.
In other First Midwest Bancorp news, Director Patrick J. Mcdonnell sold 3,500 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $21.85, for a total transaction of $76,475.00. Following the transaction, the director now owns 24,237 shares in the company, valued at $529,578.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.69% of the company’s stock.
A number of equities research analysts have issued reports on the company. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $26.00 price target on shares of First Midwest Bancorp in a research report on Wednesday, October 4th. BidaskClub lowered First Midwest Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. ValuEngine raised First Midwest Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $27.00 price target on shares of First Midwest Bancorp in a research report on Friday, August 11th. Finally, Zacks Investment Research lowered First Midwest Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. First Midwest Bancorp presently has an average rating of “Hold” and a consensus target price of $26.17.
Shares of First Midwest Bancorp, Inc. (NASDAQ:FMBI) opened at 23.34 on Tuesday. The firm has a 50-day moving average price of $22.08 and a 200-day moving average price of $22.66. First Midwest Bancorp, Inc. has a 52-week low of $18.75 and a 52-week high of $25.83. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 20.02 and a beta of 1.15.
First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). The company had revenue of $162.53 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned $0.32 EPS. Analysts predict that First Midwest Bancorp, Inc. will post $1.30 EPS for the current fiscal year.
The business 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 dividend yield of 1.71%. The ex-dividend date is Thursday, September 28th. First Midwest Bancorp’s dividend payout ratio is presently 34.19%.
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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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