First Midwest Bancorp Inc (NASDAQ:FMBI) Expected to Announce Earnings of $0.50 Per Share

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Wall Street brokerages forecast that First Midwest Bancorp Inc (NASDAQ:FMBI) will post earnings per share (EPS) of $0.50 for the current quarter, Zacks reports. Four analysts have provided estimates for First Midwest Bancorp’s earnings, with estimates ranging from $0.49 to $0.52. First Midwest Bancorp reported earnings per share of $0.48 during the same quarter last year, which would indicate a positive year over year growth rate of 4.2%. The firm is scheduled to report its next quarterly earnings results on Tuesday, January 28th.

According to Zacks, analysts expect that First Midwest Bancorp will report full year earnings of $1.97 per share for the current financial year, with EPS estimates ranging from $1.92 to $2.00. For the next financial year, analysts forecast that the company will report earnings of $1.99 per share, with EPS estimates ranging from $1.88 to $2.03. Zacks’ EPS averages are an average based on a survey of research analysts that cover First Midwest Bancorp.

First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The business had revenue of $193.74 million during the quarter, compared to analysts’ expectations of $191.95 million. First Midwest Bancorp had a return on equity of 9.51% and a net margin of 22.55%. During the same quarter in the previous year, the firm posted $0.46 EPS.

Several equities research analysts recently commented on FMBI shares. ValuEngine raised First Midwest Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised First Midwest Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 29th. BidaskClub raised First Midwest Bancorp from a “hold” rating to a “buy” rating in a report on Thursday. DA Davidson cut their price target on First Midwest Bancorp from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Finally, Stephens raised First Midwest Bancorp from an “equal” rating to an “overweight” rating and increased their price target for the company from $21.00 to $23.00 in a report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $23.50.

Several large investors have recently bought and sold shares of FMBI. AdvisorNet Financial Inc acquired a new stake in shares of First Midwest Bancorp in the second quarter valued at approximately $31,000. Rockefeller Capital Management L.P. increased its holdings in shares of First Midwest Bancorp by 83.2% in the second quarter. Rockefeller Capital Management L.P. now owns 1,533 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 696 shares during the last quarter. NumerixS Investment Technologies Inc increased its holdings in shares of First Midwest Bancorp by 47.3% in the second quarter. NumerixS Investment Technologies Inc now owns 2,725 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 875 shares during the last quarter. Pearl River Capital LLC acquired a new stake in shares of First Midwest Bancorp in the second quarter valued at approximately $88,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of First Midwest Bancorp by 17.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,002 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 1,026 shares during the last quarter. 82.31% of the stock is owned by hedge funds and other institutional investors.

Shares of FMBI stock traded up $0.23 on Tuesday, hitting $22.06. The company had a trading volume of 444,000 shares, compared to its average volume of 538,187. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average price of $20.00 and a 200-day moving average price of $20.17. The firm has a market cap of $2.40 billion, a P/E ratio of 13.21 and a beta of 1.26. First Midwest Bancorp has a twelve month low of $18.10 and a twelve month high of $24.00.

About First Midwest Bancorp

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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Earnings History and Estimates for First Midwest Bancorp (NASDAQ:FMBI)

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