Geneva Advisors LLC held its stake in shares of First Midwest Bancorp, Inc. (NASDAQ:FMBI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,974 shares of the financial services provider’s stock at the end of the second quarter. Geneva Advisors LLC’s holdings in First Midwest Bancorp were worth $675,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of First Midwest Bancorp by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,862 shares of the financial services provider’s stock valued at $183,000 after buying an additional 1,179 shares in the last quarter. Federated Investors Inc. PA raised its stake in shares of First Midwest Bancorp by 329.6% in the second quarter. Federated Investors Inc. PA now owns 456,188 shares of the financial services provider’s stock valued at $10,634,000 after buying an additional 350,001 shares in the last quarter. Legal & General Group Plc raised its stake in shares of First Midwest Bancorp by 15.3% in the second quarter. Legal & General Group Plc now owns 165,161 shares of the financial services provider’s stock valued at $3,850,000 after buying an additional 21,869 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of First Midwest Bancorp by 18.1% in the second quarter. Bank of New York Mellon Corp now owns 2,483,563 shares of the financial services provider’s stock valued at $57,890,000 after buying an additional 380,112 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of First Midwest Bancorp by 13.7% in the second quarter. Rhumbline Advisers now owns 196,221 shares of the financial services provider’s stock valued at $4,574,000 after buying an additional 23,568 shares in the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Shares of First Midwest Bancorp, Inc. (NASDAQ FMBI) opened at 20.96 on Wednesday. First Midwest Bancorp, Inc. has a 12 month low of $18.75 and a 12 month high of $25.83. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 17.98 and a beta of 1.14. The firm has a 50-day moving average price of $22.26 and a 200 day moving average price of $23.12.

First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.01. First Midwest Bancorp had a net margin of 17.30% and a return on equity of 7.81%. The firm had revenue of $162.53 million during the quarter, compared to the consensus estimate of $164.02 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. On average, analysts anticipate that First Midwest Bancorp, Inc. will post $1.30 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Thursday, September 28th. First Midwest Bancorp’s payout ratio is 34.19%.

COPYRIGHT VIOLATION WARNING: This piece was originally posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another website, it was illegally copied and reposted in violation of US & international copyright laws. The legal version of this piece can be read at https://www.watchlistnews.com/geneva-advisors-llc-has-675000-position-in-first-midwest-bancorp-inc-fmbi/1531495.html.

Several brokerages have weighed in on FMBI. Zacks Investment Research lowered First Midwest Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $27.00 target price on shares of First Midwest Bancorp in a research report on Friday, August 11th. BidaskClub lowered First Midwest Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. FIG Partners lowered First Midwest Bancorp from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $26.00 to $25.00 in a research report on Thursday, July 27th. Finally, Piper Jaffray Companies raised First Midwest Bancorp from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $25.00 to $26.00 in a research report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $26.17.

In other news, Director Thomas Lynn Brown purchased 3,000 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was bought at an average cost of $24.06 per share, for a total transaction of $72,180.00. Following the purchase, the director now owns 3,000 shares of the company’s stock, valued at $72,180. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.69% of the stock is currently owned by corporate insiders.

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.

Institutional Ownership by Quarter for First Midwest Bancorp (NASDAQ:FMBI)

Receive News & Ratings for First Midwest Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Midwest Bancorp Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.