First Midwest Bancorp (NASDAQ:FMBI) insider Mark G. Sander sold 42,328 shares of the firm’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $26.11, for a total value of $1,105,184.08. Following the sale, the insider now directly owns 234,017 shares in the company, valued at approximately $6,110,183.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of First Midwest Bancorp stock traded down $0.35 during trading on Monday, hitting $24.24. The stock had a trading volume of 366,978 shares, compared to its average volume of 580,654. The stock has a market cap of $2,532.96, a P/E ratio of 17.85, a PEG ratio of 2.06 and a beta of 1.11. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.97. First Midwest Bancorp has a 12 month low of $20.50 and a 12 month high of $26.55.
First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). The company had revenue of $154.24 million for the quarter, compared to the consensus estimate of $162.84 million. First Midwest Bancorp had a net margin of 14.59% and a return on equity of 7.69%. During the same period last year, the business posted $0.32 earnings per share. sell-side analysts predict that First Midwest Bancorp will post 1.71 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Friday, March 23rd will be issued a dividend of $0.11 per share. This is a positive change from First Midwest Bancorp’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Thursday, March 22nd. First Midwest Bancorp’s dividend payout ratio is currently 32.59%.
Institutional investors have recently bought and sold shares of the company. Zions Bancorporation purchased a new stake in First Midwest Bancorp in the third quarter worth about $112,000. Quantbot Technologies LP bought a new position in shares of First Midwest Bancorp during the third quarter valued at approximately $118,000. CIBC Asset Management Inc bought a new position in shares of First Midwest Bancorp during the third quarter valued at approximately $201,000. Victory Capital Management Inc. increased its stake in shares of First Midwest Bancorp by 38.8% during the third quarter. Victory Capital Management Inc. now owns 10,915 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 3,053 shares in the last quarter. Finally, Xact Kapitalforvaltning AB bought a new position in shares of First Midwest Bancorp during the fourth quarter valued at approximately $289,000. Institutional investors own 83.68% of the company’s stock.
A number of research analysts have recently issued reports on the company. BidaskClub raised First Midwest Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. Zacks Investment Research raised First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Friday, January 12th. Piper Jaffray reaffirmed a “buy” rating and issued a $29.00 target price on shares of First Midwest Bancorp in a research report on Tuesday, January 9th. Jefferies Group reissued a “buy” rating and set a $28.00 price objective on shares of First Midwest Bancorp in a report on Friday, December 8th. Finally, Sandler O’Neill set a $26.00 target price on First Midwest Bancorp and gave the stock a “hold” rating in a research note on Wednesday, January 3rd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. First Midwest Bancorp has a consensus rating of “Buy” and an average target price of $26.67.
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First Midwest Bancorp Company Profile
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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