First Midwest Bancorp (FMBI) Rating Reiterated by Piper Jaffray Companies
First Midwest Bancorp (NASDAQ:FMBI)‘s stock had its “buy” rating reissued by equities research analysts at Piper Jaffray Companies in a report issued on Tuesday. They presently have a $29.00 price objective on the financial services provider’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 18.37% from the company’s current price.
Several other equities analysts also recently commented on FMBI. ValuEngine upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Sandler O’Neill set a $26.00 target price on First Midwest Bancorp and gave the stock a “hold” rating in a research report on Wednesday, January 3rd. Zacks Investment Research upgraded First Midwest Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Keefe, Bruyette & Woods restated a “hold” rating and set a $23.00 target price on shares of First Midwest Bancorp in a research report on Thursday, October 26th. Finally, Jefferies Group restated a “buy” rating and set a $28.00 target price on shares of First Midwest Bancorp in a research report on Friday, December 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. First Midwest Bancorp currently has a consensus rating of “Hold” and an average price target of $26.17.
Shares of First Midwest Bancorp (NASDAQ FMBI) opened at $24.50 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.48. First Midwest Bancorp has a 52-week low of $20.50 and a 52-week high of $25.86. The company has a market capitalization of $2,503.50, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 2.21 and a beta of 1.17.
First Midwest Bancorp (NASDAQ:FMBI) last posted its earnings results on Tuesday, October 24th. The financial services provider reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The business had revenue of $163.24 million during the quarter, compared to the consensus estimate of $164.81 million. First Midwest Bancorp had a return on equity of 7.89% and a net margin of 18.08%. During the same quarter last year, the company earned $0.32 EPS. sell-side analysts expect that First Midwest Bancorp will post 1.41 earnings per share for the current fiscal year.
In related news, Director Robert P. Omeara sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $24.56, for a total transaction of $1,228,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.69% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Pacad Investment Ltd. increased its holdings in First Midwest Bancorp by 41.9% during the 2nd quarter. Pacad Investment Ltd. now owns 4,400 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 1,300 shares in the last quarter. Zions Bancorporation acquired a new stake in First Midwest Bancorp during the 3rd quarter valued at $112,000. Quantbot Technologies LP acquired a new stake in First Midwest Bancorp during the 3rd quarter valued at $118,000. Riverhead Capital Management LLC increased its holdings in First Midwest Bancorp by 40.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,200 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in First Midwest Bancorp by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 7,862 shares of the financial services provider’s stock valued at $183,000 after purchasing an additional 1,179 shares in the last quarter. 81.33% of the stock is owned by hedge funds and other institutional investors.
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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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