First Midwest Bancorp Inc (NASDAQ:FMBI) has been assigned a consensus rating of “Hold” from the ten analysts that are presently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $29.38.

FMBI has been the subject of several recent research reports. BidaskClub raised shares of First Midwest Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 22nd. Zacks Investment Research raised shares of First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Wednesday, July 18th. Stephens cut shares of First Midwest Bancorp from an “overweight” rating to an “equal weight” rating in a report on Friday, June 8th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $30.00 target price on shares of First Midwest Bancorp in a report on Thursday, July 26th. Finally, Sandler O’Neill reissued a “hold” rating and set a $28.50 target price on shares of First Midwest Bancorp in a report on Thursday, July 26th.

In related news, Director Thomas M. Prame sold 2,250 shares of the firm’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $27.07, for a total transaction of $60,907.50. Following the sale, the director now owns 38,524 shares in the company, valued at $1,042,844.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.47% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio grew its position in First Midwest Bancorp by 20.4% during the second quarter. Strs Ohio now owns 217,400 shares of the financial services provider’s stock valued at $5,537,000 after buying an additional 36,800 shares during the period. Northern Trust Corp grew its position in First Midwest Bancorp by 0.4% during the first quarter. Northern Trust Corp now owns 2,734,225 shares of the financial services provider’s stock valued at $67,234,000 after buying an additional 9,951 shares during the period. Citadel Advisors LLC acquired a new stake in First Midwest Bancorp during the second quarter valued at $9,064,000. Swiss National Bank grew its position in First Midwest Bancorp by 2.3% during the first quarter. Swiss National Bank now owns 179,000 shares of the financial services provider’s stock valued at $4,402,000 after buying an additional 4,000 shares during the period. Finally, Glenmede Trust Co. NA grew its position in shares of First Midwest Bancorp by 458,482.6% in the second quarter. Glenmede Trust Co. NA now owns 1,027,225 shares of the financial services provider’s stock valued at $26,164,000 after purchasing an additional 1,027,001 shares during the period. Institutional investors own 82.45% of the company’s stock.

Shares of First Midwest Bancorp stock traded down $0.47 during trading on Wednesday, hitting $26.99. 8,687 shares of the company’s stock were exchanged, compared to its average volume of 337,273. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.97 and a quick ratio of 0.97. First Midwest Bancorp has a 52-week low of $22.03 and a 52-week high of $27.70. The stock has a market cap of $2.83 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 2.35 and a beta of 1.14.

First Midwest Bancorp (NASDAQ:FMBI) last issued its earnings results on Tuesday, July 24th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. First Midwest Bancorp had a net margin of 15.12% and a return on equity of 7.83%. The firm had revenue of $165.39 million during the quarter, compared to analysts’ expectations of $161.80 million. During the same quarter last year, the company posted $0.35 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. equities analysts expect that First Midwest Bancorp will post 1.67 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 9th. Investors of record on Friday, September 28th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.44 annualized dividend and a yield of 1.63%. First Midwest Bancorp’s dividend payout ratio is presently 32.59%.

About First Midwest Bancorp

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.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

Analyst Recommendations for First Midwest Bancorp (NASDAQ:FMBI)

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