First Midwest Bancorp (FMBI) Earning Somewhat Favorable Press Coverage, Study Finds
Press coverage about First Midwest Bancorp (NASDAQ:FMBI) has trended somewhat positive on Tuesday, according to Accern. Accern rates the sentiment of news coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. First Midwest Bancorp earned a news impact score of 0.15 on Accern’s scale. Accern also assigned media stories about the financial services provider an impact score of 46.3641366983756 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the media stories that may have impacted Accern Sentiment Analysis’s analysis:
- Zacks: Analysts Anticipate First Midwest Bancorp, Inc. (FMBI) Will Post Quarterly Sales of $163.31 Million (americanbankingnews.com)
- Zacks: Brokerages Expect First Midwest Bancorp, Inc. (FMBI) to Post $0.36 EPS (americanbankingnews.com)
- First Midwest Bancorp, Inc. Declares Fourth Quarter Cash Dividend of $0.10 Per Share (finance.yahoo.com)
- First Midwest Bancorp, Inc. (FMBI) Announces Quarterly Dividend of $0.10 (americanbankingnews.com)
- First Midwest Bancorp (FMBI) Announces Michael L. Scudder as Chairman of the Board; Appoints J. Stephen Vanderwoude as Lead Independent Director (streetinsider.com)
FMBI has been the subject of a number of recent research reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $27.00 price target on shares of First Midwest Bancorp in a research report on Friday, August 11th. BidaskClub downgraded First Midwest Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Zacks Investment Research raised First Midwest Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. ValuEngine raised First Midwest Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Finally, Piper Jaffray Companies raised First Midwest Bancorp from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $25.00 to $26.00 in a research report on Monday, July 24th. One 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 company’s stock. First Midwest Bancorp has an average rating of “Hold” and an average price target of $25.83.
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, topping analysts’ consensus estimates of $0.36 by $0.01. First Midwest Bancorp had a return on equity of 7.89% and a net margin of 18.08%. The company had revenue of $163.24 million for the quarter, compared to analysts’ expectations of $164.81 million. During the same quarter in the prior year, the business posted $0.32 EPS. analysts forecast that First Midwest Bancorp will post 1.41 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 9th. Stockholders of record on Friday, December 22nd 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 1.67%. The ex-dividend date of this dividend is Thursday, December 21st. First Midwest Bancorp’s dividend payout ratio is currently 33.61%.
In other news, Director Patrick J. Mcdonnell sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $21.85, for a total transaction of $76,475.00. Following the sale, the director now owns 24,237 shares in the company, valued at approximately $529,578.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.69% of the company’s stock.
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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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