Several other equities analysts also recently commented on FMBI. Raymond James downgraded First Midwest Bancorp to a hold rating in a research report on Monday, July 8th. FIG Partners upgraded First Midwest Bancorp from a market perform rating to an outperform rating in a research note on Thursday, May 16th. Zacks Investment Research upgraded First Midwest Bancorp from a sell rating to a hold rating in a research note on Monday, July 29th. Finally, DA Davidson lowered their target price on First Midwest Bancorp from $23.00 to $22.00 and set a neutral rating on the stock in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $24.00.
Shares of NASDAQ:FMBI opened at $19.81 on Friday. The firm’s 50 day moving average price is $19.72 and its 200-day moving average price is $20.63. The stock has a market capitalization of $2.19 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 1.37 and a beta of 1.27. First Midwest Bancorp has a twelve month low of $18.10 and a twelve month high of $27.52. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.71.
First Midwest Bancorp (NASDAQ:FMBI) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.03. First Midwest Bancorp had a net margin of 23.58% and a return on equity of 9.51%. The firm had revenue of $190.02 million during the quarter, compared to analyst estimates of $187.13 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. First Midwest Bancorp’s revenue for the quarter was up 14.9% on a year-over-year basis. Analysts expect that First Midwest Bancorp will post 1.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Friday, September 27th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.83%. First Midwest Bancorp’s payout ratio is 33.53%.
Several large investors have recently modified their holdings of the company. AdvisorNet Financial Inc acquired a new stake in shares of First Midwest Bancorp in the 2nd quarter worth $31,000. Rockefeller Capital Management L.P. boosted its holdings in shares of First Midwest Bancorp by 83.2% during the second quarter. Rockefeller Capital Management L.P. now owns 1,533 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 696 shares during the last quarter. NumerixS Investment Technologies Inc grew its holdings in First Midwest Bancorp by 47.3% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,725 shares of the financial services provider’s stock valued at $56,000 after buying an additional 875 shares during the period. Pearl River Capital LLC purchased a new stake in First Midwest Bancorp in the second quarter valued at approximately $88,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in shares of First Midwest Bancorp during the 2nd quarter valued at $203,000. Institutional investors and hedge funds own 82.32% of the company’s stock.
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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