First Midwest Bancorp (NASDAQ:FMBI) Director Robert P. Omeara sold 25,300 shares of the stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $26.00, for a total value of $657,800.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
FMBI stock traded down $0.35 during mid-day trading on Monday, reaching $24.24. The company had a trading volume of 366,978 shares, compared to its average volume of 580,654. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. The company has a market cap of $2,532.96, a price-to-earnings ratio of 17.85, a P/E/G ratio of 2.06 and a beta of 1.11. First Midwest Bancorp has a 52 week low of $20.50 and a 52 week high of $26.55.
First Midwest Bancorp (NASDAQ:FMBI) last posted its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). The company had revenue of $154.24 million during 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 quarter in the prior year, the business earned $0.32 earnings per share. equities research analysts anticipate that First Midwest Bancorp will post 1.71 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Friday, March 23rd will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.82%. This is an increase from First Midwest Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, March 22nd. First Midwest Bancorp’s dividend payout ratio (DPR) is currently 32.59%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of First Midwest Bancorp by 1.7% during the 4th quarter. BlackRock Inc. now owns 13,178,497 shares of the financial services provider’s stock worth $316,416,000 after acquiring an additional 214,263 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of First Midwest Bancorp by 3.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,075,566 shares of the financial services provider’s stock worth $142,290,000 after acquiring an additional 192,379 shares during the period. Macquarie Group Ltd. boosted its stake in shares of First Midwest Bancorp by 6.7% during the 4th quarter. Macquarie Group Ltd. now owns 2,739,049 shares of the financial services provider’s stock worth $65,765,000 after acquiring an additional 171,119 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in shares of First Midwest Bancorp by 74.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,690,454 shares of the financial services provider’s stock worth $64,598,000 after acquiring an additional 1,146,492 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC boosted its stake in shares of First Midwest Bancorp by 3.2% during the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 2,593,730 shares of the financial services provider’s stock worth $62,275,000 after acquiring an additional 81,605 shares during the period. Institutional investors own 83.68% of the company’s stock.
A number of research analysts recently issued reports on FMBI shares. Sandler O’Neill set a $26.00 price objective on First Midwest Bancorp and gave the stock a “hold” rating in a report on Wednesday, January 3rd. Jefferies Group reiterated a “buy” rating and set a $28.00 price objective on shares of First Midwest Bancorp in a report on Friday, December 8th. Zacks Investment Research downgraded First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Piper Jaffray reiterated a “buy” rating and set a $29.00 price objective on shares of First Midwest Bancorp in a report on Tuesday, January 9th. Finally, BidaskClub downgraded First Midwest Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 30th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. First Midwest Bancorp currently 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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