First Midwest Bancorp, Inc. (NASDAQ:FMBI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “FIRST MIDWEST BANCORP, INC. is a multi-bank holding company engaged in commercial banking, trust, investment management, insurance, mortgage origination and servicing activities. “

FMBI has been the subject of a number of other research reports. Piper Jaffray Companies raised shares of First Midwest Bancorp from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $25.00 to $26.00 in a research report on Monday, July 24th. ValuEngine raised shares of First Midwest Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. FIG Partners downgraded shares of First Midwest Bancorp from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $26.00 to $25.00 in a research report on Thursday, July 27th. BidaskClub downgraded shares of First Midwest Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $27.00 price objective on shares of First Midwest Bancorp in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $25.83.

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 analysts’ consensus estimates of $0.36 by $0.01. First Midwest Bancorp had a net margin of 18.08% and a return on equity of 7.89%. The business had revenue of $163.24 million during the quarter, compared to the consensus estimate of $164.81 million. During the same quarter in the previous year, the firm posted $0.32 EPS.

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In other news, Director Patrick J. Mcdonnell sold 3,500 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $21.85, for a total transaction of $76,475.00. Following the completion of the sale, the director now owns 24,237 shares of the company’s stock, valued at approximately $529,578.45. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.69% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its stake in shares of First Midwest Bancorp by 24.6% during the 3rd quarter. Principal Financial Group Inc. now owns 785,466 shares of the financial services provider’s stock valued at $18,395,000 after buying an additional 155,318 shares in the last quarter. Boston Partners lifted its stake in shares of First Midwest Bancorp by 2.3% during the 3rd quarter. Boston Partners now owns 535,039 shares of the financial services provider’s stock valued at $12,531,000 after buying an additional 11,798 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of First Midwest Bancorp by 11.1% during the 3rd quarter. Prudential Financial Inc. now owns 221,386 shares of the financial services provider’s stock valued at $5,185,000 after buying an additional 22,060 shares in the last quarter. IndexIQ Advisors LLC lifted its stake in shares of First Midwest Bancorp by 83.0% during the 3rd quarter. IndexIQ Advisors LLC now owns 36,600 shares of the financial services provider’s stock valued at $857,000 after buying an additional 16,603 shares in the last quarter. Finally, Foundry Partners LLC lifted its stake in shares of First Midwest Bancorp by 7.5% during the 3rd quarter. Foundry Partners LLC now owns 522,622 shares of the financial services provider’s stock valued at $12,240,000 after buying an additional 36,643 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

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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