California Public Employees Retirement System cut its position in shares of First Midwest Bancorp Inc. (NASDAQ:FMBI) by 1.4% during the third quarter, Holdings Channel reports. The institutional investor owned 229,500 shares of the financial services provider’s stock after selling 3,300 shares during the period. California Public Employees Retirement System owned approximately 0.28% of First Midwest Bancorp worth $4,443,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of FMBI. BNP Paribas Arbitrage SA raised its position in First Midwest Bancorp by 121.5% in the second quarter. BNP Paribas Arbitrage SA now owns 25,404 shares of the financial services provider’s stock worth $446,000 after buying an additional 13,934 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its position in First Midwest Bancorp by 0.3% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 932,611 shares of the financial services provider’s stock worth $16,377,000 after buying an additional 2,811 shares in the last quarter. Capstone Asset Management Co. raised its position in First Midwest Bancorp by 7.5% in the second quarter. Capstone Asset Management Co. now owns 30,785 shares of the financial services provider’s stock worth $541,000 after buying an additional 2,150 shares in the last quarter. Foundry Partners LLC bought a new position in First Midwest Bancorp during the second quarter worth $6,543,000. Finally, Parasol Investment Management LLC raised its position in First Midwest Bancorp by 16.0% in the second quarter. Parasol Investment Management LLC now owns 453,909 shares of the financial services provider’s stock worth $7,971,000 after buying an additional 62,689 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.
First Midwest Bancorp Inc. (NASDAQ:FMBI) traded down 0.16% during mid-day trading on Friday, reaching $24.35. The company’s stock had a trading volume of 104,298 shares. The firm has a market cap of $1980.29 billion, a PE ratio of 22.14 and a beta of 1.12. The company has a 50-day moving average price of $20.65 and a 200-day moving average price of $19.09. First Midwest Bancorp Inc. has a 12-month low of $14.56 and a 12-month high of $24.57.
First Midwest Bancorp (NASDAQ:FMBI) last posted its quarterly earnings results on Tuesday, October 18th. The financial services provider reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. First Midwest Bancorp had a return on equity of 7.71% and a net margin of 16.72%. During the same period in the prior year, the company posted $0.30 EPS. On average, equities research analysts expect that First Midwest Bancorp Inc. will post $1.22 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 10th. Investors of record on Friday, December 23rd will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, December 21st. This represents a $0.36 annualized dividend and a dividend yield of 1.48%. First Midwest Bancorp’s payout ratio is currently 32.73%.
A number of research analysts have recently weighed in on FMBI shares. Zacks Investment Research lowered First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of First Midwest Bancorp in a report on Wednesday, October 12th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $19.36.
In related news, Director Kathryn Hayley purchased 16,000 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The shares were bought at an average price of $19.40 per share, for a total transaction of $310,400.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.48% of the stock is owned by corporate insiders.
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.