First Midwest Bancorp (NASDAQ:FMBI) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other research firms also recently commented on FMBI. Zacks Investment Research upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Friday, January 12th. Jefferies Group restated a “buy” rating and set a $28.00 price objective on shares of First Midwest Bancorp in a report on Friday, December 8th. Piper Jaffray Companies restated a “buy” rating and set a $29.00 price objective on shares of First Midwest Bancorp in a report on Tuesday, January 9th. 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. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $23.00 price objective on shares of First Midwest Bancorp in a report on Thursday, October 26th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. First Midwest Bancorp presently has an average rating of “Buy” and a consensus price target of $26.67.

First Midwest Bancorp (NASDAQ FMBI) opened at $24.15 on Friday. The company has a market capitalization of $2,480.62, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 2.00 and a beta of 1.18. First Midwest Bancorp has a fifty-two week low of $20.50 and a fifty-two week high of $26.48. The company has a current ratio of 0.97, a quick ratio of 0.98 and a debt-to-equity ratio of 0.49.

First Midwest Bancorp (NASDAQ:FMBI) last released its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $154.24 million for the quarter, compared to analysts’ expectations of $162.84 million. First Midwest Bancorp had a return on equity of 7.69% and a net margin of 14.59%. During the same quarter in the previous year, the business earned $0.32 earnings per share. equities analysts predict that First Midwest Bancorp will post 1.73 earnings per share for the current fiscal year.

In other news, Director Robert P. Omeara sold 50,000 shares of First Midwest Bancorp stock in a transaction on Friday, December 15th. The stock was sold at an average price of $24.56, for a total value of $1,228,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.69% of the company’s stock.

Several large investors have recently made changes to their positions in FMBI. Zions Bancorporation purchased a new position in shares of First Midwest Bancorp in the 3rd quarter valued at $112,000. Quantbot Technologies LP purchased a new position in shares of First Midwest Bancorp in the 3rd quarter valued at $118,000. CIBC Asset Management Inc purchased a new position in shares of First Midwest Bancorp in the 3rd quarter valued at $201,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of First Midwest Bancorp in the 2nd quarter valued at $213,000. Finally, MPS Loria Financial Planners LLC purchased a new position in shares of First Midwest Bancorp in the 2nd quarter valued at $235,000. Institutional investors and hedge funds own 80.85% of the company’s stock.

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First Midwest Bancorp Company Profile

First Midwest Bancorp, Inc is a bank holding company. The Company’s principal subsidiary, First Midwest Bank (the Bank), is an Illinois state-chartered bank and provides a range of banking, treasury and wealth management products and services, to commercial and industrial, commercial real estate, municipal and consumer customers.

Analyst Recommendations for First Midwest Bancorp (NASDAQ:FMBI)

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