First Midwest Bancorp (FMBI) Reaches New 1-Year High and Low at $26.92

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First Midwest Bancorp (NASDAQ:FMBI) reached a new 52-week high and low during mid-day trading on Tuesday . The company traded as low as $26.92 and last traded at $26.74, with a volume of 58961 shares trading hands. The stock had previously closed at $26.22.

A number of equities research analysts have recently issued reports on the stock. UBS upgraded shares of First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 28th. Raymond James upgraded shares of First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 28th. Zacks Investment Research lowered shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. BidaskClub lowered shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, April 28th. Finally, ValuEngine lowered 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 given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $26.67.

The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61. The firm has a market cap of $2.72 billion, a PE ratio of 19.44, a P/E/G ratio of 2.33 and a beta of 1.13.

First Midwest Bancorp (NASDAQ:FMBI) last issued its earnings results 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). First Midwest Bancorp had a net margin of 16.08% and a return on equity of 7.59%. The company had revenue of $154.08 million during the quarter, compared to analysts’ expectations of $160.44 million. During the same period last year, the business posted $0.34 earnings per share. equities research analysts forecast that First Midwest Bancorp will post 1.62 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 10th. Shareholders of record on Friday, June 29th will be issued a $0.11 dividend. The ex-dividend date is Thursday, June 28th. This represents a $0.44 dividend on an annualized basis and a yield of 1.68%. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 32.59%.

In other First Midwest Bancorp news, EVP Michael C. Spitler sold 10,000 shares of the stock in a transaction dated Wednesday, May 2nd. The shares were sold at an average price of $24.68, for a total value of $246,800.00. Following the completion of the transaction, the executive vice president now directly owns 26,174 shares of the company’s stock, valued at $645,974.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert P. Omeara sold 5,200 shares of the stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $26.50, for a total transaction of $137,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,382 shares of company stock valued at $2,635,462. 1.69% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. increased its holdings in First Midwest Bancorp by 2.7% in the first quarter. Principal Financial Group Inc. now owns 800,384 shares of the financial services provider’s stock valued at $19,682,000 after buying an additional 20,910 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in First Midwest Bancorp by 2,114.0% in the first quarter. Summit Trail Advisors LLC now owns 150,664 shares of the financial services provider’s stock valued at $151,000 after buying an additional 143,859 shares in the last quarter. Xact Kapitalforvaltning AB increased its holdings in First Midwest Bancorp by 44.9% in the first quarter. Xact Kapitalforvaltning AB now owns 17,432 shares of the financial services provider’s stock valued at $429,000 after buying an additional 5,400 shares in the last quarter. Atlantic Trust Group LLC increased its holdings in First Midwest Bancorp by 47.9% in the first quarter. Atlantic Trust Group LLC now owns 31,028 shares of the financial services provider’s stock valued at $763,000 after buying an additional 10,054 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in First Midwest Bancorp by 2.2% in the first quarter. Legal & General Group Plc now owns 211,510 shares of the financial services provider’s stock valued at $5,192,000 after buying an additional 4,615 shares in the last quarter. 83.67% of the stock is owned by institutional investors.

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.

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