First Midwest Bancorp Inc. (NASDAQ:FMBI)‘s stock had its “market perform” rating restated by equities researchers at Keefe, Bruyette & Woods in a report released on Wednesday.
Several other brokerages have also recently weighed in on FMBI. Zacks Investment Research cut First Midwest Bancorp from a “hold” rating to a “sell” rating in a research note on Monday. Jefferies Group reaffirmed a “buy” rating and issued a $21.00 price target on shares of First Midwest Bancorp in a research note on Thursday, July 7th. Finally, Macquarie raised First Midwest Bancorp from a “neutral” rating to an “outperform” rating in a research note on Thursday, June 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $19.36.
Shares of First Midwest Bancorp (NASDAQ:FMBI) traded up 0.57% during midday trading on Wednesday, hitting $19.47. The stock had a trading volume of 85,127 shares. First Midwest Bancorp has a 12 month low of $14.56 and a 12 month high of $19.90. The stock’s 50-day moving average is $19.38 and its 200-day moving average is $18.49. The stock has a market cap of $1.58 billion, a PE ratio of 18.70 and a beta of 1.30.
First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. First Midwest Bancorp had a return on equity of 7.72% and a net margin of 16.58%. During the same period in the previous year, the business earned $0.29 EPS. Equities analysts anticipate that First Midwest Bancorp will post $1.19 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 11th. Shareholders of record on Friday, September 30th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.86%. The ex-dividend date was Wednesday, September 28th. First Midwest Bancorp’s dividend payout ratio (DPR) is 34.29%.
Large investors have recently added to or reduced their stakes in the company. Swiss National Bank increased its stake in First Midwest Bancorp by 0.8% in the second quarter. Swiss National Bank now owns 130,600 shares of the financial services provider’s stock valued at $2,293,000 after buying an additional 1,000 shares during the period. BlackRock Inc. increased its stake in First Midwest Bancorp by 62.1% in the first quarter. BlackRock Inc. now owns 7,946 shares of the financial services provider’s stock valued at $143,000 after buying an additional 3,044 shares during the period. Glenmede Trust Co. NA increased its position in shares of First Midwest Bancorp by 0.4% in the first quarter. Glenmede Trust Co. NA now owns 25,786 shares of the financial services provider’s stock worth $462,000 after buying an additional 110 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of First Midwest Bancorp by 18.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,373,498 shares of the financial services provider’s stock worth $42,771,000 after buying an additional 361,226 shares during the last quarter. Finally, PineBridge Investments L.P. increased its position in shares of First Midwest Bancorp by 7.8% in the second quarter. PineBridge Investments L.P. now owns 10,314 shares of the financial services provider’s stock worth $181,000 after buying an additional 743 shares during the last quarter. 82.14% of the stock is currently owned by institutional investors and hedge funds.
About First Midwest Bancorp