First Midwest Bancorp Inc. (NASDAQ:FMBI) is scheduled to be releasing its earnings data after the market closes on Tuesday, October 18th. Analysts expect First Midwest Bancorp to post earnings of $0.32 per share for the quarter.
First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.31 earnings per share (EPS) 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 last year, the business posted $0.29 earnings per share. On average, analysts expect First Midwest Bancorp to post $1.23 EPS for the current fiscal year and $1.39 EPS for the next fiscal year.
Shares of First Midwest Bancorp Inc. (NASDAQ:FMBI) opened at 19.05 on Friday. The stock’s 50 day moving average price is $19.37 and its 200 day moving average price is $18.50. First Midwest Bancorp Inc. has a one year low of $14.56 and a one year high of $19.90. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 18.30 and a beta of 1.30.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 11th. Stockholders of record on Friday, September 30th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Wednesday, September 28th. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 34.29%.
Several large investors have recently made changes to their positions in the company. Capstone Investment Advisors LLC acquired a new stake in shares of First Midwest Bancorp during the second quarter valued at about $298,000. Paloma Partners Management Co acquired a new stake in shares of First Midwest Bancorp during the second quarter valued at about $315,000. Nomura Holdings Inc. acquired a new stake in shares of First Midwest Bancorp during the second quarter valued at about $334,000. Trexquant Investment LP acquired a new stake in shares of First Midwest Bancorp during the second quarter valued at about $375,000. Finally, BlackRock Inc. increased its stake in shares of First Midwest Bancorp by 169.1% in the second quarter. BlackRock Inc. now owns 21,386 shares of the financial services provider’s stock valued at $376,000 after buying an additional 13,440 shares during the period. Institutional investors own 82.14% of the company’s stock.
FMBI has been the topic of several research reports. Jefferies Group reaffirmed a “buy” rating and set a $21.00 price target on shares of First Midwest Bancorp in a research note on Thursday, July 7th. Zacks Investment Research lowered First Midwest Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, October 10th. Macquarie raised First Midwest Bancorp from a “neutral” rating to an “outperform” rating in a research note on Thursday, June 30th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating on shares of First Midwest Bancorp in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. First Midwest Bancorp presently has a consensus rating of “Hold” and a consensus price target of $19.36.
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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