BidaskClub downgraded shares of First Midwest Bancorp (NASDAQ:FMBI) from a buy rating to a hold rating in a report released on Saturday.
Several other equities analysts have also recently issued reports on FMBI. Stephens cut First Midwest Bancorp from an overweight rating to an equal weight rating in a report on Friday, June 8th. UBS Group raised First Midwest Bancorp from a market perform rating to an outperform rating in a report on Wednesday, March 28th. Raymond James raised First Midwest Bancorp from a market perform rating to an outperform rating in a report on Wednesday, March 28th. Finally, ValuEngine cut First Midwest Bancorp from a buy rating to a hold rating in a report on Monday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $26.67.
Shares of First Midwest Bancorp opened at $25.85 on Friday, Marketbeat reports. The firm has a market cap of $2.63 billion, a P/E ratio of 19.15, a PEG ratio of 2.25 and a beta of 1.18. First Midwest Bancorp has a 1 year low of $20.50 and a 1 year high of $27.40. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.61.
First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings data on Tuesday, April 24th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.05). The firm had revenue of $154.08 million for the quarter, compared to analyst estimates of $160.44 million. First Midwest Bancorp had a return on equity of 7.59% and a net margin of 16.08%. During the same period in the prior year, the firm posted $0.34 earnings per share. research analysts predict that First Midwest Bancorp will post 1.62 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 10th. Stockholders of record on Friday, June 29th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.70%. First Midwest Bancorp’s dividend payout ratio (DPR) is 32.59%.
In other news, EVP Michael C. Spitler sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $24.68, for a total value of $246,800.00. Following the completion of the transaction, the executive vice president now directly owns 26,174 shares of the company’s stock, valued at $645,974.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP James P. Hotchkiss sold 3,900 shares of the business’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $26.59, for a total value of $103,701.00. Following the completion of the transaction, the executive vice president now directly owns 64,519 shares of the company’s stock, valued at $1,715,560.21. The disclosure for this sale can be found here. Insiders own 1.47% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Adviser Investments LLC acquired a new position in shares of First Midwest Bancorp in the first quarter worth $119,000. SG Americas Securities LLC purchased a new stake in shares of First Midwest Bancorp in the first quarter valued at $210,000. Brown Advisory Inc. purchased a new stake in shares of First Midwest Bancorp in the first quarter valued at $254,000. Brinker Capital Inc. purchased a new stake in shares of First Midwest Bancorp in the first quarter valued at $273,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of First Midwest Bancorp in the fourth quarter valued at $289,000. 83.84% of the stock is owned by institutional investors.
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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