First Midwest Bancorp, Inc. Announces Quarterly Dividend of $0.10 (FMBI)
First Midwest Bancorp, Inc. (NASDAQ:FMBI) announced a quarterly dividend on Friday, November 17th, RTT News reports. Stockholders of record on Friday, December 22nd will be given a dividend of 0.10 per share by the financial services provider on Tuesday, January 9th. This represents a $0.40 annualized dividend and a dividend yield of 1.70%.
Shares of First Midwest Bancorp (NASDAQ:FMBI) opened at $23.47 on Friday. First Midwest Bancorp has a 52 week low of $20.50 and a 52 week high of $25.83. The company has a market cap of $2,390.00, a P/E ratio of 16.55, a PEG ratio of 2.31 and a beta of 1.15. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 0.98.
First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. First Midwest Bancorp had a net margin of 18.08% and a return on equity of 7.89%. The firm had revenue of $163.24 million for the quarter, compared to analysts’ expectations of $164.81 million. During the same period last year, the firm earned $0.32 earnings per share. analysts anticipate that First Midwest Bancorp will post 1.41 EPS for the current fiscal year.
In other news, Director Patrick J. Mcdonnell sold 3,500 shares of First Midwest Bancorp stock in a transaction on Friday, September 15th. The shares were sold at an average price of $21.85, for a total transaction of $76,475.00. Following the transaction, the director now directly owns 24,237 shares of the company’s stock, valued at $529,578.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.69% of the company’s stock.
A number of equities analysts have issued reports on the stock. ValuEngine raised shares of First Midwest Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. BidaskClub cut shares of First Midwest Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $26.00 price objective on shares of First Midwest Bancorp in a research note on Wednesday, October 4th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $27.00 price objective on shares of First Midwest Bancorp in a research note on Friday, August 11th. Finally, FIG Partners cut shares of First Midwest Bancorp from an “outperform” rating to a “market perform” rating and reduced their price objective 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 assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.83.
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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