First Midwest Bancorp Inc. (NASDAQ:FMBI)‘s stock had its “market perform” rating reaffirmed by Keefe, Bruyette & Woods in a note issued to investors on Wednesday.
Several other research firms also recently weighed in on FMBI. Zacks Investment Research downgraded First Midwest Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. Jefferies Group reissued a “buy” rating and set a $21.00 target price on shares of First Midwest Bancorp in a research report on Thursday, July 7th. Finally, Macquarie raised First Midwest Bancorp from a “neutral” rating to an “outperform” rating in a research report on Thursday, June 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $19.36.
First Midwest Bancorp (NASDAQ:FMBI) opened at 18.85 on Wednesday. The stock’s 50 day moving average price is $19.38 and its 200 day moving average price is $18.50. The company has a market capitalization of $1.53 billion, a P/E ratio of 18.11 and a beta of 1.30. First Midwest Bancorp has a one year low of $14.56 and a one year high of $19.90.
First Midwest Bancorp (NASDAQ:FMBI) last released its earnings results on Tuesday, July 19th. The financial services provider reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. First Midwest Bancorp had a return on equity of 7.72% and a net margin of 16.58%. During the same quarter in the prior year, the company posted $0.29 EPS. Equities analysts anticipate that First Midwest Bancorp will post $1.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 11th. Shareholders of record on Friday, September 30th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Wednesday, September 28th. First Midwest Bancorp’s dividend payout ratio is 34.29%.
Several large investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in shares of First Midwest Bancorp by 77.3% in the second quarter. Victory Capital Management Inc. now owns 5,833 shares of the financial services provider’s stock valued at $102,000 after buying an additional 2,544 shares in the last quarter. BlackRock Inc. boosted its stake in shares of First Midwest Bancorp by 62.1% in the first quarter. BlackRock Inc. now owns 7,946 shares of the financial services provider’s stock valued at $143,000 after buying an additional 3,044 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of First Midwest Bancorp by 0.3% in the first quarter. IFP Advisors Inc now owns 8,907 shares of the financial services provider’s stock valued at $161,000 after buying an additional 23 shares in the last quarter. PineBridge Investments L.P. boosted its stake in shares of First Midwest Bancorp by 7.8% in the second quarter. PineBridge Investments L.P. now owns 10,314 shares of the financial services provider’s stock valued at $181,000 after buying an additional 743 shares in the last quarter. Finally, Neuberger Berman Group LLC purchased a new stake in shares of First Midwest Bancorp during the second quarter valued at $186,000. Institutional investors and hedge funds own 82.14% of the company’s stock.
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.
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