First Midwest Bancorp Inc (NASDAQ:FMBI) has received an average rating of “Hold” from the eight analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $26.00.

A number of equities research analysts recently issued reports on FMBI shares. Zacks Investment Research raised shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. ValuEngine raised shares of First Midwest Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Piper Jaffray Companies reissued a “buy” rating and issued a $26.00 price objective on shares of First Midwest Bancorp in a report on Wednesday, October 4th. Jefferies Group reissued a “buy” rating and issued a $28.00 price objective on shares of First Midwest Bancorp in a report on Friday, December 8th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $23.00 price objective on shares of First Midwest Bancorp in a report on Thursday, October 26th.

A number of hedge funds have recently made changes to their positions in FMBI. Aperio Group LLC boosted its stake in First Midwest Bancorp by 4.6% during the second quarter. Aperio Group LLC now owns 23,968 shares of the financial services provider’s stock worth $559,000 after buying an additional 1,047 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in First Midwest Bancorp by 3.9% during the second quarter. Municipal Employees Retirement System of Michigan now owns 19,140 shares of the financial services provider’s stock worth $446,000 after buying an additional 710 shares during the period. Great West Life Assurance Co. Can boosted its stake in First Midwest Bancorp by 4.2% during the second quarter. Great West Life Assurance Co. Can now owns 118,206 shares of the financial services provider’s stock worth $2,753,000 after buying an additional 4,750 shares during the period. Sei Investments Co. boosted its stake in shares of First Midwest Bancorp by 39.2% in the second quarter. Sei Investments Co. now owns 98,589 shares of the financial services provider’s stock valued at $2,298,000 after purchasing an additional 27,746 shares during the period. Finally, Trexquant Investment LP purchased a new position in shares of First Midwest Bancorp in the second quarter valued at approximately $247,000. 81.42% of the stock is owned by institutional investors.

Shares of First Midwest Bancorp (FMBI) traded up $0.69 during midday trading on Monday, hitting $24.36. 3,537,400 shares of the stock were exchanged, compared to its average volume of 775,601. The firm has a market capitalization of $2,502.48, a PE ratio of 17.65, a price-to-earnings-growth ratio of 2.47 and a beta of 1.17. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.98. First Midwest Bancorp has a 1-year low of $20.50 and a 1-year high of $25.86.

First Midwest Bancorp (NASDAQ:FMBI) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.01. The business had revenue of $163.24 million during the quarter, compared to analysts’ expectations of $164.81 million. First Midwest Bancorp had a net margin of 18.08% and a return on equity of 7.89%. During the same period in the prior year, the business earned $0.32 earnings per share. equities research analysts expect that First Midwest Bancorp will post 1.41 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 9th. Shareholders of record on Friday, December 22nd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, December 21st. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 33.61%.

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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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