Legal & General Group Plc Acquires 37,358 Shares of First Midwest Bancorp Inc (NASDAQ:FMBI)

Legal & General Group Plc boosted its holdings in shares of First Midwest Bancorp Inc (NASDAQ:FMBI) by 22.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202,519 shares of the financial services provider’s stock after acquiring an additional 37,358 shares during the period. Legal & General Group Plc owned 0.20% of First Midwest Bancorp worth $4,745,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. ProShare Advisors LLC raised its holdings in First Midwest Bancorp by 0.3% in the second quarter. ProShare Advisors LLC now owns 13,459 shares of the financial services provider’s stock worth $314,000 after buying an additional 36 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in First Midwest Bancorp by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 10,303 shares of the financial services provider’s stock worth $240,000 after buying an additional 77 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in First Midwest Bancorp by 3.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 19,140 shares of the financial services provider’s stock worth $446,000 after buying an additional 710 shares during the last quarter. Aperio Group LLC raised its holdings in First Midwest Bancorp by 4.6% in the second quarter. Aperio Group LLC now owns 23,968 shares of the financial services provider’s stock worth $559,000 after buying an additional 1,047 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in First Midwest Bancorp by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,862 shares of the financial services provider’s stock worth $183,000 after buying an additional 1,179 shares during the last quarter. 81.33% of the stock is owned by institutional investors.

First Midwest Bancorp Inc (NASDAQ FMBI) traded up $0.60 on Thursday, hitting $25.74. 691,063 shares of the stock traded hands, compared to its average volume of 605,281. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.98. First Midwest Bancorp Inc has a 1 year low of $20.50 and a 1 year high of $25.86. The stock has a market capitalization of $2,640.00, a PE ratio of 21.63, a price-to-earnings-growth ratio of 2.21 and a beta of 1.17.

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

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 9th. Investors of record on Friday, December 22nd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, December 21st. This represents a $0.40 annualized dividend and a yield of 1.55%. First Midwest Bancorp’s dividend payout ratio (DPR) is 33.61%.

Several research analysts have issued reports on the stock. Jefferies Group reaffirmed a “buy” rating and issued a $28.00 target price on shares of First Midwest Bancorp in a report on Friday, December 8th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $29.00 target price on shares of First Midwest Bancorp in a report on Tuesday. Sandler O’Neill set a $26.00 price objective on shares of First Midwest Bancorp and gave the company a “hold” rating in a report on Wednesday, January 3rd. Zacks Investment Research cut shares of First Midwest Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $23.00 price objective on shares of First Midwest Bancorp in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. First Midwest Bancorp currently has an average rating of “Hold” and a consensus price target of $26.17.

In related news, Director Robert P. Omeara sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $24.56, for a total transaction of $1,228,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.69% of the company’s stock.

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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.

Institutional Ownership by Quarter for First Midwest Bancorp (NASDAQ:FMBI)

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