First Midwest Bancorp Inc (FMBI) Shares Bought by Ameriprise Financial Inc.
Ameriprise Financial Inc. lifted its holdings in shares of First Midwest Bancorp Inc (NASDAQ:FMBI) by 16.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 845,954 shares of the financial services provider’s stock after acquiring an additional 117,910 shares during the period. Ameriprise Financial Inc. owned approximately 0.82% of First Midwest Bancorp worth $19,814,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of FMBI. Bank of Montreal Can bought a new stake in shares of First Midwest Bancorp during the second quarter worth about $1,471,000. Aperio Group LLC increased its position in shares of 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 acquiring an additional 1,047 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of 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 acquiring an additional 710 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of 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 acquiring an additional 4,750 shares in the last quarter. Finally, Texas Permanent School Fund grew its position in First Midwest Bancorp by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 59,270 shares of the financial services provider’s stock worth $1,382,000 after purchasing an additional 581 shares in the last quarter. 81.42% of the stock is owned by institutional investors.
Shares of First Midwest Bancorp Inc (NASDAQ:FMBI) opened at $24.63 on Monday. First Midwest Bancorp Inc has a 52-week low of $20.50 and a 52-week high of $25.86. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $2,530.22, a PE ratio of 17.85, a price-to-earnings-growth ratio of 2.49 and a beta of 1.17.
First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ 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 net margin of 18.08% and a return on equity of 7.89%. During the same period in the prior year, the firm posted $0.32 EPS. equities analysts predict that First Midwest Bancorp Inc 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 $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Thursday, December 21st. First Midwest Bancorp’s payout ratio is 33.61%.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. ValuEngine raised shares of First Midwest Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Jefferies Group reaffirmed a “buy” rating and issued a $28.00 price objective on shares of First Midwest Bancorp in a research report on Friday. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $26.00 price objective on shares of First Midwest Bancorp in a research report on Wednesday, October 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $23.00 price objective on shares of First Midwest Bancorp in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $26.00.
In other First Midwest Bancorp news, Director Patrick J. Mcdonnell sold 3,500 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $21.85, for a total value of $76,475.00. Following the transaction, the director now directly owns 24,237 shares in the company, valued at $529,578.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.69% of the stock is owned by insiders.
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About First Midwest Bancorp
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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