First Midwest Bancorp Inc (NASDAQ:FMBI) has been given an average rating of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $16.38.

A number of equities analysts recently weighed in on FMBI shares. ValuEngine lowered shares of First Midwest Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 4th. Janney Montgomery Scott reiterated a “buy” rating and set a $13.50 price objective on shares of First Midwest Bancorp in a research report on Sunday, June 21st. Zacks Investment Research lowered shares of First Midwest Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 29th. SunTrust Banks lowered their price objective on shares of First Midwest Bancorp from $14.00 to $13.00 and set a “hold” rating for the company in a research report on Tuesday, May 19th. Finally, BidaskClub lowered shares of First Midwest Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 25th.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. boosted its position in shares of First Midwest Bancorp by 4.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 18,467 shares of the financial services provider’s stock valued at $246,000 after acquiring an additional 847 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in shares of First Midwest Bancorp by 21.8% during the first quarter. Mutual of America Capital Management LLC now owns 4,775 shares of the financial services provider’s stock worth $63,000 after buying an additional 855 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of First Midwest Bancorp by 19.5% during the first quarter. PNC Financial Services Group Inc. now owns 8,911 shares of the financial services provider’s stock worth $118,000 after buying an additional 1,457 shares during the period. Providence Wealth Advisors LLC increased its stake in shares of First Midwest Bancorp by 0.7% during the second quarter. Providence Wealth Advisors LLC now owns 260,082 shares of the financial services provider’s stock worth $3,472,000 after buying an additional 1,690 shares during the period. Finally, Swiss National Bank increased its stake in shares of First Midwest Bancorp by 0.9% during the first quarter. Swiss National Bank now owns 213,300 shares of the financial services provider’s stock worth $2,823,000 after buying an additional 1,800 shares during the period. 80.21% of the stock is currently owned by institutional investors and hedge funds.

FMBI opened at $11.77 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.05. The firm has a 50 day moving average price of $12.57 and a 200-day moving average price of $13.35. First Midwest Bancorp has a twelve month low of $10.31 and a twelve month high of $23.64. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 9.05 and a beta of 1.23.

First Midwest Bancorp (NASDAQ:FMBI) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.04. The business had revenue of $178.23 million during the quarter, compared to analysts’ expectations of $185.80 million. First Midwest Bancorp had a net margin of 16.97% and a return on equity of 6.70%. As a group, analysts expect that First Midwest Bancorp will post 0.95 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Friday, September 25th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.76%. The ex-dividend date is Thursday, September 24th. First Midwest Bancorp’s dividend payout ratio is presently 28.28%.

First Midwest Bancorp Company Profile

First Midwest Bancorp, Inc operates as the 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; 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 consumer secured loans, as well as funding for the construction, purchase, refinance, or improvement of commercial real estate properties.

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