First Midwest Bancorp, Inc. (NASDAQ:FMBI) Receives Hold Rating from Keefe, Bruyette & Woods

First Midwest Bancorp, Inc. (NASDAQ:FMBI)‘s stock had its “hold” rating reissued by Keefe, Bruyette & Woods in a research report issued on Thursday, October 26th. They currently have a $23.00 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 2.22% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Friday, July 7th. ValuEngine raised First Midwest Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Jefferies Group LLC reissued a “buy” rating and set a $27.00 price target on shares of First Midwest Bancorp in a report on Friday, August 11th. Piper Jaffray Companies reissued a “buy” rating and set a $26.00 price target on shares of First Midwest Bancorp in a report on Wednesday, October 4th. Finally, BidaskClub upgraded First Midwest Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $25.83.

First Midwest Bancorp (NASDAQ:FMBI) opened at $22.50 on Thursday. First Midwest Bancorp has a twelve month low of $20.50 and a twelve month high of $25.83. The company has a market capitalization of $2,311.40, a PE ratio of 16.30, a PEG ratio of 2.28 and a beta of 1.15. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.48.

First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. First Midwest Bancorp had a return on equity of 7.89% and a net margin of 18.08%. The company had revenue of $163.24 million for the quarter, compared to the consensus estimate of $164.81 million. During the same quarter in the previous year, the business earned $0.32 EPS. research analysts expect that First Midwest Bancorp will post 1.41 EPS for the current year.

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In related news, Director Patrick J. Mcdonnell sold 3,500 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $21.85, for a total value of $76,475.00. Following the completion of the transaction, the director now owns 24,237 shares of the company’s stock, valued at approximately $529,578.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.69% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC increased its position in shares of First Midwest Bancorp by 0.3% during the second quarter. ProShare Advisors LLC now owns 13,459 shares of the financial services provider’s stock worth $314,000 after acquiring an additional 36 shares during the period. Neuberger Berman Group LLC increased its position in shares of First Midwest Bancorp by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 10,303 shares of the financial services provider’s stock worth $240,000 after acquiring an additional 77 shares during the period. Louisiana State Employees Retirement System increased its position in shares of First Midwest Bancorp by 0.3% during the second quarter. Louisiana State Employees Retirement System now owns 33,100 shares of the financial services provider’s stock worth $772,000 after acquiring an additional 100 shares during the period. Envestnet Asset Management Inc. increased its position in shares of First Midwest Bancorp by 1.6% during the first quarter. Envestnet Asset Management Inc. now owns 8,560 shares of the financial services provider’s stock worth $203,000 after acquiring an additional 136 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of First Midwest Bancorp by 0.8% during the first quarter. Municipal Employees Retirement System of Michigan now owns 18,430 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 150 shares during the period. 80.92% of the stock is owned by institutional investors and hedge funds.

About First Midwest Bancorp

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.

Analyst Recommendations for First Midwest Bancorp (NASDAQ:FMBI)

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