Dalton Greiner Hartman Maher & Co. trimmed its stake in First Midwest Bancorp Inc (NASDAQ:FMBI) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 736,659 shares of the financial services provider’s stock after selling 88,710 shares during the period. Dalton Greiner Hartman Maher & Co. owned about 0.72% of First Midwest Bancorp worth $17,687,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. BlackRock Inc. grew its position in First Midwest Bancorp by 8.5% in the second quarter. BlackRock Inc. now owns 11,210,324 shares of the financial services provider’s stock valued at $261,312,000 after acquiring an additional 873,753 shares during the period. Vanguard Group Inc. grew its position in First Midwest Bancorp by 13.1% in the second quarter. Vanguard Group Inc. now owns 8,957,728 shares of the financial services provider’s stock valued at $208,804,000 after acquiring an additional 1,037,378 shares during the period. Dimensional Fund Advisors LP grew its position in First Midwest Bancorp by 3.3% in the third quarter. Dimensional Fund Advisors LP now owns 6,075,566 shares of the financial services provider’s stock valued at $142,290,000 after acquiring an additional 192,379 shares during the period. State Street Corp grew its position in First Midwest Bancorp by 21.5% in the second quarter. State Street Corp now owns 3,645,798 shares of the financial services provider’s stock valued at $84,982,000 after acquiring an additional 644,968 shares during the period. Finally, Northern Trust Corp grew its position in First Midwest Bancorp by 20.1% in the second quarter. Northern Trust Corp now owns 2,673,098 shares of the financial services provider’s stock valued at $62,310,000 after acquiring an additional 446,786 shares during the period. Hedge funds and other institutional investors own 81.33% of the company’s stock.
A number of analysts have weighed in on FMBI shares. ValuEngine upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Jefferies Group reiterated a “buy” rating and issued a $28.00 price target on shares of First Midwest Bancorp in a research report on Friday, December 8th. Piper Jaffray Companies reiterated a “buy” rating and issued a $26.00 price target on shares of First Midwest Bancorp in a research report on Wednesday, October 4th. Sandler O’Neill set a $26.00 price target on First Midwest Bancorp and gave the company a “hold” rating in a research report on Wednesday, January 3rd. Finally, Zacks Investment Research upgraded First Midwest Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $26.17.
In other news, Director Robert P. Omeara sold 50,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $24.56, for a total transaction of $1,228,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.69% of the stock is currently owned by corporate insiders.
Shares of First Midwest Bancorp Inc (FMBI) opened at $25.14 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $2,580.00, a price-to-earnings ratio of 21.13, a PEG ratio of 2.21 and a beta of 1.17. First Midwest Bancorp Inc has a 1-year low of $20.50 and a 1-year high of $25.86.
First Midwest Bancorp (NASDAQ:FMBI) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $163.24 million for the quarter, compared to analysts’ expectations of $164.81 million. First Midwest Bancorp had a return on equity of 7.89% and a net margin of 18.08%. During the same quarter in the prior year, the business earned $0.32 earnings per share. research analysts expect that First Midwest Bancorp Inc will post 1.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 9th. Stockholders of record on Friday, December 22nd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Thursday, December 21st. First Midwest Bancorp’s payout ratio is presently 33.61%.
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First Midwest Bancorp 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.
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