Insider Selling: First Midwest Bancorp Inc (FMBI) Director Sells 2,250 Shares of Stock
First Midwest Bancorp Inc (NASDAQ:FMBI) Director Thomas M. Prame sold 2,250 shares of the company’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $27.07, for a total value of $60,907.50. Following the sale, the director now owns 38,524 shares of the company’s stock, valued at approximately $1,042,844.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
NASDAQ FMBI opened at $26.79 on Friday. First Midwest Bancorp Inc has a twelve month low of $20.50 and a twelve month high of $27.40. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.62. The stock has a market cap of $2.79 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 2.32 and a beta of 1.13.
First Midwest Bancorp (NASDAQ:FMBI) last posted its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. First Midwest Bancorp had a return on equity of 7.83% and a net margin of 15.12%. The business had revenue of $165.39 million during the quarter, compared to analysts’ expectations of $161.80 million. During the same quarter in the previous year, the firm earned $0.35 EPS. The firm’s revenue was up .7% compared to the same quarter last year. analysts expect that First Midwest Bancorp Inc will post 1.67 EPS for the current year.
Several analysts have recently issued reports on FMBI shares. BidaskClub upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, May 24th. Zacks Investment Research upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Wednesday, July 18th. Stephens downgraded First Midwest Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Friday, June 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $30.00 price target on shares of First Midwest Bancorp in a research note on Thursday, July 26th. Finally, Sandler O’Neill reiterated a “hold” rating and set a $28.50 price target on shares of First Midwest Bancorp in a research note on Thursday, July 26th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. First Midwest Bancorp currently has an average rating of “Hold” and an average price target of $29.30.
First Midwest Bancorp Company Profile
First Midwest Bancorp, Inc operates as a bank holding company for First Midwest Bank that provides various banking products and services. The company accepts checking, NOW, money market, and savings accounts, as well as various types of short-term and long-term certificates of deposit. Its loan products include working capital loans and lines of credit; accounts receivable financing; inventory and equipment financing; sector-based lending, including healthcare, asset-based lending, structured finance, and syndications; agricultural loans; and mortgages, home equity lines and loans, personal loans, specialty loans, and auto loans, as well as funding for the construction, purchase, refinance, or improvement of commercial real estate properties.
Featured Story: Diversification in Your Portfolio
Receive News & Ratings for First Midwest Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Midwest Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.