First Midwest Bancorp (NASDAQ:FMBI) announced a quarterly dividend on Thursday, May 17th, RTT News reports. Shareholders of record on Friday, June 29th will be paid a dividend of 0.11 per share by the financial services provider on Tuesday, July 10th. This represents a $0.44 annualized dividend and a yield of 1.71%.

Shares of FMBI stock opened at $25.70 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61. First Midwest Bancorp has a 1 year low of $25.29 and a 1 year high of $25.49. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 2.25 and a beta of 1.13.

First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings results 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). First Midwest Bancorp had a net margin of 16.08% and a return on equity of 7.59%. The business had revenue of $154.08 million during the quarter, compared to analyst estimates of $160.44 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. research analysts expect that First Midwest Bancorp will post 1.62 EPS for the current year.

FMBI has been the topic of several recent analyst reports. ValuEngine lowered shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. BidaskClub lowered shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 30th. Zacks Investment Research lowered shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Raymond James upgraded shares of First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 28th. Finally, UBS upgraded shares of First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 28th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. First Midwest Bancorp presently has a consensus rating of “Hold” and a consensus target price of $26.67.

In related news, CEO Michael L. Scudder sold 5,000 shares of the company’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $26.15, for a total value of $130,750.00. Following the transaction, the chief executive officer now owns 81,720 shares in the company, valued at approximately $2,136,978. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mark G. Sander sold 42,328 shares of the company’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $26.11, for a total transaction of $1,105,184.08. Following the completion of the transaction, the insider now owns 234,017 shares in the company, valued at approximately $6,110,183.87. The disclosure for this sale can be found here. Insiders have sold a total of 101,382 shares of company stock worth $2,635,462 over the last 90 days. 1.69% of the stock is owned by company insiders.

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.

Dividend History for First Midwest Bancorp (NASDAQ:FMBI)

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