Shares of First Midwest Bancorp Inc (NASDAQ:FMBI) have earned an average rating of “Buy” from the eight brokerages that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $26.67.

A number of brokerages have recently issued reports on FMBI. BidaskClub upgraded shares of First Midwest Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research upgraded shares of First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Friday, January 12th. Piper Jaffray Companies reiterated a “buy” rating and set a $29.00 price target on shares of First Midwest Bancorp in a research note on Tuesday, January 9th. Sandler O’Neill set a $26.00 price target on shares of First Midwest Bancorp and gave the stock a “hold” rating in a research note on Wednesday, January 3rd. Finally, Jefferies Group reiterated a “buy” rating and set a $28.00 price target on shares of First Midwest Bancorp in a research note on Friday, December 8th.

Shares of First Midwest Bancorp (NASDAQ FMBI) traded up $0.12 during trading on Tuesday, hitting $24.15. 744,012 shares of the stock were exchanged, compared to its average volume of 685,148. First Midwest Bancorp has a twelve month low of $20.50 and a twelve month high of $26.48. The company has a current ratio of 0.97, a quick ratio of 0.98 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $2,480.62, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 2.00 and a beta of 1.18.

First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). First Midwest Bancorp had a return on equity of 7.69% and a net margin of 14.59%. The firm had revenue of $154.24 million for the quarter, compared to analyst estimates of $162.84 million. During the same quarter last year, the firm earned $0.32 earnings per share. equities analysts forecast that First Midwest Bancorp will post 1.73 EPS for the current fiscal year.

In other First Midwest Bancorp news, Director Robert P. Omeara sold 50,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $24.56, for a total transaction of $1,228,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.69% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its position in First Midwest Bancorp by 1.7% during the fourth quarter. BlackRock Inc. now owns 13,178,497 shares of the financial services provider’s stock worth $316,416,000 after buying an additional 214,263 shares during the period. Vanguard Group Inc. grew its position in shares of First Midwest Bancorp by 13.1% in the second quarter. Vanguard Group Inc. now owns 8,957,728 shares of the financial services provider’s stock valued at $208,804,000 after purchasing an additional 1,037,378 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of First Midwest Bancorp by 3.3% in the third quarter. Dimensional Fund Advisors LP now owns 6,075,566 shares of the financial services provider’s stock valued at $142,290,000 after purchasing an additional 192,379 shares during the last quarter. State Street Corp grew its position in shares of First Midwest Bancorp by 21.5% in the second quarter. State Street Corp now owns 3,645,798 shares of the financial services provider’s stock valued at $84,982,000 after purchasing an additional 644,968 shares during the last quarter. Finally, Macquarie Group Ltd. grew its position in shares of First Midwest Bancorp by 7.3% in the third quarter. Macquarie Group Ltd. now owns 2,567,930 shares of the financial services provider’s stock valued at $60,141,000 after purchasing an additional 175,213 shares during the last quarter. Institutional investors own 80.85% of the company’s stock.

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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.

Analyst Recommendations for First Midwest Bancorp (NASDAQ:FMBI)

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