Sandler O’Neill Analysts Give First Midwest Bancorp (FMBI) a $26.00 Price Target
A number of other analysts also recently commented on FMBI. Zacks Investment Research upgraded shares of First Midwest Bancorp from a sell rating to a hold rating in a report on Monday, September 11th. ValuEngine raised shares of First Midwest Bancorp from a hold rating to a buy rating in a research note on Tuesday, September 26th. Piper Jaffray Companies reissued a buy rating and issued a $26.00 price target on shares of First Midwest Bancorp in a research note on Wednesday, October 4th. Keefe, Bruyette & Woods reissued a hold rating and issued a $23.00 price target on shares of First Midwest Bancorp in a research note on Thursday, October 26th. Finally, Jefferies Group reissued a buy rating and issued a $28.00 price target on shares of First Midwest Bancorp in a research note on Friday, December 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. First Midwest Bancorp currently has an average rating of Hold and an average target price of $25.67.
First Midwest Bancorp (NASDAQ:FMBI) traded up $0.34 during mid-day trading on Wednesday, reaching $24.37. 623,608 shares of the company’s stock were exchanged, compared to its average volume of 646,980. The firm has a market cap of $2,503.51, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 2.21 and a beta of 1.17. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 0.98. First Midwest Bancorp has a 12 month low of $20.50 and a 12 month high of $25.86.
First Midwest Bancorp (NASDAQ:FMBI) last released its quarterly earnings data 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 company 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 quarter in the prior year, the firm earned $0.32 EPS. analysts anticipate that First Midwest Bancorp will post 1.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 9th. Stockholders of record on Friday, December 22nd will be paid a $0.10 dividend. The ex-dividend date is Thursday, December 21st. This represents a $0.40 annualized dividend and a dividend yield of 1.64%. First Midwest Bancorp’s dividend payout ratio (DPR) is 33.61%.
In other news, Director Robert P. Omeara sold 50,000 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $24.56, for a total value of $1,228,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.69% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Pacad Investment Ltd. boosted its position in shares of First Midwest Bancorp by 41.9% during the 2nd quarter. Pacad Investment Ltd. now owns 4,400 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 1,300 shares during the period. Zions Bancorporation purchased a new position in shares of First Midwest Bancorp during the 3rd quarter worth approximately $112,000. Quantbot Technologies LP purchased a new position in shares of First Midwest Bancorp during the 3rd quarter worth approximately $118,000. Riverhead Capital Management LLC boosted its position in shares of First Midwest Bancorp by 40.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,200 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 1,800 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of First Midwest Bancorp by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 7,862 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 1,179 shares during the period. 81.33% of the stock is owned by institutional investors and hedge funds.
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.
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