First Midwest Bancorp (FMBI) Lifted to “Buy” at BidaskClub
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.
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.
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