Zacks: Analysts Anticipate First Midwest Bancorp Inc (FMBI) Will Announce Quarterly Sales of $169.25 Million
Equities analysts predict that First Midwest Bancorp Inc (NASDAQ:FMBI) will announce $169.25 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for First Midwest Bancorp’s earnings. The lowest sales estimate is $167.50 million and the highest is $171.00 million. First Midwest Bancorp posted sales of $163.24 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.7%. The firm is scheduled to report its next quarterly earnings report on Tuesday, October 23rd.
According to Zacks, analysts expect that First Midwest Bancorp will report full year sales of $662.58 million for the current year, with estimates ranging from $656.80 million to $667.10 million. For the next financial year, analysts anticipate that the company will post sales of $726.97 million, with estimates ranging from $714.50 million to $735.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that follow First Midwest Bancorp.
First Midwest Bancorp (NASDAQ:FMBI) last issued its earnings results on Tuesday, July 24th. The financial services provider reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. The business had revenue of $165.39 million during the quarter, compared to analyst estimates of $161.80 million. First Midwest Bancorp had a return on equity of 7.83% and a net margin of 15.12%. First Midwest Bancorp’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 EPS.
Shares of NASDAQ FMBI opened at $27.18 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.35 and a beta of 1.14. First Midwest Bancorp has a twelve month low of $22.03 and a twelve month high of $27.70.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 9th. Shareholders 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 yield of 1.62%. The ex-dividend date of this dividend is Thursday, September 27th. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 32.59%.
In other news, Director Thomas M. Prame sold 2,250 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $27.07, for a total value of $60,907.50. Following the completion of the transaction, the director now directly owns 38,524 shares of the company’s stock, valued at approximately $1,042,844.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.47% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Adviser Investments LLC bought a new position in shares of First Midwest Bancorp in the 1st quarter worth $119,000. FSI Group LLC bought a new position in shares of First Midwest Bancorp in the 2nd quarter worth $214,000. SG Americas Securities LLC bought a new position in shares of First Midwest Bancorp in the 1st quarter worth $210,000. Brown Advisory Inc. bought a new position in shares of First Midwest Bancorp in the 1st quarter worth $254,000. Finally, Brinker Capital Inc. bought a new position in shares of First Midwest Bancorp in the 1st quarter worth $273,000. 82.45% of the stock is owned by hedge funds and other institutional investors.
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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