American Century Companies Inc. Acquires 5,601 Shares of First Midwest Bancorp, Inc. (NASDAQ:FMBI)

American Century Companies Inc. lifted its holdings in First Midwest Bancorp, Inc. (NASDAQ:FMBI) by 53.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,128 shares of the financial services provider’s stock after buying an additional 5,601 shares during the period. American Century Companies Inc.’s holdings in First Midwest Bancorp were worth $320,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Mutual of America Capital Management LLC increased its holdings in shares of First Midwest Bancorp by 7.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 15,314 shares of the financial services provider’s stock worth $336,000 after buying an additional 1,030 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of First Midwest Bancorp by 11.7% in the 1st quarter. AQR Capital Management LLC now owns 12,840 shares of the financial services provider’s stock worth $281,000 after buying an additional 1,345 shares during the last quarter. Berman Capital Advisors LLC boosted its stake in shares of First Midwest Bancorp by 484.9% during the 1st quarter. Berman Capital Advisors LLC now owns 1,626 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 1,348 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of First Midwest Bancorp by 2.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 79,113 shares of the financial services provider’s stock worth $1,568,000 after purchasing an additional 1,630 shares during the period. Finally, IndexIQ Advisors LLC boosted its stake in shares of First Midwest Bancorp by 13.9% during the 1st quarter. IndexIQ Advisors LLC now owns 18,022 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 2,197 shares during the period. Hedge funds and other institutional investors own 80.79% of the company’s stock.

Shares of FMBI opened at $17.75 on Thursday. The company has a 50 day moving average price of $18.23 and a 200-day moving average price of $20.14. First Midwest Bancorp, Inc. has a fifty-two week low of $10.38 and a fifty-two week high of $24.28. The stock has a market capitalization of $2.03 billion, a PE ratio of 13.55 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.97 and a current ratio of 0.97.

First Midwest Bancorp (NASDAQ:FMBI) last posted its quarterly earnings data on Monday, July 19th. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04. The firm had revenue of $190.56 million during the quarter, compared to analyst estimates of $189.05 million. First Midwest Bancorp had a net margin of 21.08% and a return on equity of 7.77%. During the same quarter in the previous year, the business posted $0.19 EPS. Equities research analysts forecast that First Midwest Bancorp, Inc. will post 1.7 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 12th. Investors of record on Friday, September 24th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, September 23rd. This represents a $0.56 annualized dividend and a dividend yield of 3.15%. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 47.46%.

A number of equities analysts recently commented on the stock. Piper Sandler raised shares of First Midwest Bancorp from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $20.40 to $22.67 in a research note on Tuesday, August 17th. Zacks Investment Research raised shares of First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Tuesday. Finally, Raymond James reissued a “market perform” rating on shares of First Midwest Bancorp in a research report on Wednesday, June 2nd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, First Midwest Bancorp has a consensus rating of “Hold” and a consensus target price of $22.17.

About First Midwest Bancorp

First Midwest Bancorp, Inc is a bank holding company, which engages in the provision of commercial and retail banking services. It offers a full range of commercial, retail, treasury management, and wealth management products and services to commercial and industrial, agricultural, commercial real estate, municipal, and consumer customers.

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Institutional Ownership by Quarter for First Midwest Bancorp (NASDAQ:FMBI)

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