First Midwest Bancorp Inc (NASDAQ:FMBI) has been assigned an average recommendation of “Hold” from the ten analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $27.50.

A number of equities research analysts recently issued reports on FMBI shares. Zacks Investment Research downgraded First Midwest Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. BidaskClub downgraded First Midwest Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, August 31st. Raymond James set a $25.00 target price on First Midwest Bancorp and gave the company a “buy” rating in a research note on Thursday, October 25th. Piper Jaffray Companies set a $26.00 target price on First Midwest Bancorp and gave the company a “buy” rating in a research note on Friday, October 26th. Finally, ValuEngine cut First Midwest Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, November 15th.

In other news, Director Frank Blaise Modruson bought 4,444 shares of First Midwest Bancorp stock in a transaction that occurred on Monday, October 29th. The shares were acquired at an average price of $22.53 per share, with a total value of $100,123.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.69% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FMBI. FSI Group LLC bought a new position in First Midwest Bancorp in the second quarter valued at $214,000. Stone Ridge Asset Management LLC bought a new position in shares of First Midwest Bancorp during the third quarter valued at about $281,000. Paloma Partners Management Co bought a new position in shares of First Midwest Bancorp during the third quarter valued at about $348,000. First Hawaiian Bank bought a new position in shares of First Midwest Bancorp during the third quarter valued at about $365,000. Finally, Victory Capital Management Inc. grew its stake in shares of First Midwest Bancorp by 15.9% during the second quarter. Victory Capital Management Inc. now owns 16,378 shares of the financial services provider’s stock valued at $417,000 after buying an additional 2,246 shares during the last quarter. 80.38% of the stock is currently owned by institutional investors and hedge funds.

Shares of FMBI stock traded up $0.26 on Monday, reaching $22.13. The company’s stock had a trading volume of 625,064 shares, compared to its average volume of 471,780. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.97 and a current ratio of 0.97. First Midwest Bancorp has a 12-month low of $19.67 and a 12-month high of $27.70. The company has a market capitalization of $2.33 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18.

First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.46. First Midwest Bancorp had a return on equity of 8.22% and a net margin of 17.04%. The company had revenue of $167.69 million for the quarter, compared to the consensus estimate of $168.87 million. During the same quarter last year, the business posted $0.37 earnings per share. On average, sell-side analysts forecast that First Midwest Bancorp will post 1.67 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 8th. Investors of record on Friday, December 21st will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Thursday, December 20th. This is a boost from First Midwest Bancorp’s previous quarterly dividend of $0.11. First Midwest Bancorp’s dividend payout ratio is currently 32.59%.

First Midwest Bancorp Company Profile

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.

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Analyst Recommendations for First Midwest Bancorp (NASDAQ:FMBI)

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