Somewhat Favorable Press Coverage Somewhat Unlikely to Impact First Midwest Bancorp (FMBI) Stock Price
News articles about First Midwest Bancorp (NASDAQ:FMBI) have been trending somewhat positive this week, Accern Sentiment Analysis reports. The research group rates the sentiment of press coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. First Midwest Bancorp earned a media sentiment score of 0.14 on Accern’s scale. Accern also assigned headlines about the financial services provider an impact score of 47.9380068911486 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Here are some of the news headlines that may have effected Accern Sentiment’s rankings:
- First Midwest Bancorp (FMBI) Declares $0.11 Quarterly Dividend; 1.6% Yield (streetinsider.com)
- First Midwest Receives Fed’s Nod for Northern States Deal (zacks.com)
- First Midwest Receives Fed's Nod for Northern States Deal (finance.yahoo.com)
- First Midwest Bancorp, Inc. Declares Third Quarter Cash Dividend of $0.11 Per Share (finance.yahoo.com)
- First Midwest Bancorp Inc Declares Quarterly Dividend of $0.11 (FMBI) (americanbankingnews.com)
A number of research firms have commented on FMBI. Zacks Investment Research upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Wednesday, July 18th. Keefe, Bruyette & Woods restated a “hold” rating and set a $30.00 price target on shares of First Midwest Bancorp in a research note on Thursday, July 26th. Piper Jaffray Companies upped their price target on First Midwest Bancorp from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. BidaskClub cut First Midwest Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, June 30th. Finally, Stephens cut First Midwest Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Friday, June 8th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $29.30.
First Midwest Bancorp (NASDAQ:FMBI) last released its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. First Midwest Bancorp had a return on equity of 7.83% and a net margin of 15.12%. The company had revenue of $165.39 million for the quarter, compared to analysts’ expectations of $161.80 million. During the same period in the prior year, the firm earned $0.35 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. analysts anticipate that First Midwest Bancorp will post 1.67 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 9th. Stockholders of record on Friday, September 28th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.62%. First Midwest Bancorp’s dividend payout ratio is currently 32.59%.
In other news, Director Thomas M. Prame sold 2,250 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $27.07, for a total transaction of $60,907.50. Following the sale, the director now owns 38,524 shares of the company’s stock, valued at $1,042,844.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James P. Hotchkiss sold 3,900 shares of the company’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $26.59, for a total value of $103,701.00. Following the sale, the executive vice president now directly owns 64,519 shares in the company, valued at approximately $1,715,560.21. The disclosure for this sale can be found here. 1.47% of the stock is currently owned by corporate insiders.
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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