First Midwest Bancorp to Issue Quarterly Dividend of $0.11 (FMBI)

First Midwest Bancorp (NASDAQ:FMBI) declared a quarterly dividend on Thursday, May 17th, RTT News reports. Investors of record on Friday, June 29th will be paid a dividend of 0.11 per share by the financial services provider on Tuesday, July 10th. This represents a $0.44 dividend on an annualized basis and a yield of 1.71%.

Shares of First Midwest Bancorp opened at $25.70 on Friday, according to MarketBeat. First Midwest Bancorp has a 52 week low of $25.29 and a 52 week high of $25.49. The stock has a market capitalization of $2.63 billion, a P/E ratio of 18.34, a P/E/G ratio of 2.25 and a beta of 1.13. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61.

First Midwest Bancorp (NASDAQ:FMBI) last posted its quarterly earnings data on Tuesday, April 24th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.05). The business had revenue of $154.08 million during the quarter, compared to the consensus estimate of $160.44 million. First Midwest Bancorp had a net margin of 16.08% and a return on equity of 7.59%. During the same period in the prior year, the firm earned $0.34 EPS. equities analysts expect that First Midwest Bancorp will post 1.62 earnings per share for the current year.

A number of research firms have issued reports on FMBI. Raymond James raised shares of First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 28th. BidaskClub downgraded shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, April 28th. Zacks Investment Research downgraded shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. UBS raised shares of First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 28th. Finally, ValuEngine downgraded shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $26.67.

In other news, insider Mark G. Sander sold 42,328 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $26.11, for a total transaction of $1,105,184.08. Following the completion of the sale, the insider now owns 234,017 shares of the company’s stock, valued at approximately $6,110,183.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael C. Spitler sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 2nd. The stock was sold at an average price of $24.68, for a total transaction of $246,800.00. Following the sale, the executive vice president now directly owns 26,174 shares of the company’s stock, valued at approximately $645,974.32. The disclosure for this sale can be found here. Insiders sold a total of 101,382 shares of company stock valued at $2,635,462 in the last three months. Insiders own 1.69% of the company’s stock.

About First Midwest Bancorp

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.

Dividend History for First Midwest Bancorp (NASDAQ:FMBI)

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