Robert P. Omeara Sells 50,000 Shares of First Midwest Bancorp Inc (FMBI) Stock

First Midwest Bancorp Inc (NASDAQ:FMBI) Director Robert P. Omeara sold 50,000 shares of the company’s 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of First Midwest Bancorp Inc (NASDAQ 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 stock has a market cap of $2,580.00, a PE 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 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. The firm had revenue of $163.24 million for the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $0.32 EPS. sell-side analysts forecast that First Midwest Bancorp Inc will post 1.41 earnings per share for the current year.

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Thursday, December 21st. First Midwest Bancorp’s payout ratio is presently 33.61%.

Several brokerages have commented on FMBI. ValuEngine upgraded shares of First Midwest Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Zacks Investment Research lowered shares of First Midwest Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Piper Jaffray Companies reiterated a “buy” rating and issued a $29.00 price target on shares of First Midwest Bancorp in a research note 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 research note on Wednesday, January 3rd. Finally, Jefferies Group restated a “buy” rating and set a $28.00 price objective on shares of First Midwest Bancorp in a research note on Friday, December 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. First Midwest Bancorp currently has a consensus rating of “Hold” and a consensus target price of $26.17.

Several hedge funds and other institutional investors have recently made changes to their positions in FMBI. ProShare Advisors LLC boosted its holdings in shares of 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 boosted its holdings in shares of 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 boosted its holdings in shares of 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 boosted its holdings in shares of 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. boosted its holdings in shares of 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 currently owned by hedge funds and other institutional investors.

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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.

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