The First Midwest Bancorp Inc. (FMBI) Research Coverage Started at the SunTrust Banks Inc.

The First Midwest Bancorp Inc. (FMBI) Research Coverage Started at the SunTrust Banks Inc.

SunTrust Banks Inc. initiated coverage on shares of First Midwest Bancorp Inc. (NASDAQ:FMBI) in a report issued on Tuesday morning. The brokerage issued a buy rating and a $28.00 target price on the financial services provider’s stock.

Other research analysts have also issued research reports about the stock. Jefferies Group reaffirmed a buy rating and issued a $28.00 price target on shares of First Midwest Bancorp in a research note on Sunday, December 11th. Zacks Investment Research downgraded shares of First Midwest Bancorp from a buy rating to a hold rating in a report on Tuesday, September 6th. Finally, Keefe, Bruyette & Woods reiterated a market perform rating on shares of First Midwest Bancorp in a report on Wednesday, October 12th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. First Midwest Bancorp currently has a consensus rating of Hold and an average target price of $22.19.

Shares of First Midwest Bancorp (NASDAQ:FMBI) opened at 25.18 on Tuesday. First Midwest Bancorp has a one year low of $14.56 and a one year high of $25.34. The firm has a 50-day moving average of $23.47 and a 200-day moving average of $19.93. The company has a market capitalization of $2.05 billion, a P/E ratio of 22.87 and a beta of 1.24.

First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings results on Tuesday, October 18th. The financial services provider reported $0.32 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.32. First Midwest Bancorp had a net margin of 16.72% and a return on equity of 7.71%. During the same period last year, the company earned $0.30 EPS. Equities research analysts expect that First Midwest Bancorp will post $1.21 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 10th. Investors of record on Friday, December 23rd will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, December 21st. This represents a $0.36 dividend on an annualized basis and a yield of 1.43%. First Midwest Bancorp’s payout ratio is 32.73%.

In related news, Director Robert P. Omeara sold 20,200 shares of the business’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $24.08, for a total transaction of $486,416.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kathryn Hayley acquired 16,000 shares of the firm’s stock in a transaction on Thursday, October 27th. The stock was bought at an average price of $19.40 per share, for a total transaction of $310,400.00. The disclosure for this purchase can be found here. Corporate insiders own 2.48% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its position in First Midwest Bancorp by 77.3% in the second quarter. Victory Capital Management Inc. now owns 5,833 shares of the financial services provider’s stock valued at $102,000 after buying an additional 2,544 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in First Midwest Bancorp during the third quarter valued at approximately $124,000. PineBridge Investments L.P. increased its position in 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 valued at $181,000 after buying an additional 743 shares in the last quarter. Neuberger Berman Group LLC bought a new position in First Midwest Bancorp during the second quarter valued at approximately $186,000. Finally, Tower Research Capital LLC TRC increased its position in First Midwest Bancorp by 1,223.9% in the second quarter. Tower Research Capital LLC TRC now owns 10,975 shares of the financial services provider’s stock valued at $193,000 after buying an additional 10,146 shares in the last quarter. Hedge funds and other institutional investors own 82.19% of the company’s stock.

First Midwest Bancorp Company Profile

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