First Midwest Bancorp Inc (NASDAQ:FMBI) – Equities researchers at SunTrust Banks boosted their Q1 2018 earnings per share (EPS) estimates for First Midwest Bancorp in a report issued on Monday, Zacks Investment Research reports. SunTrust Banks analyst M. Young now forecasts that the financial services provider will post earnings per share of $0.42 for the quarter, up from their previous forecast of $0.35. SunTrust Banks also issued estimates for First Midwest Bancorp’s Q3 2018 earnings at $0.49 EPS.
Other equities research analysts have also recently issued research reports about the company. Jefferies Group reaffirmed a “buy” rating and issued a $28.00 price target on shares of First Midwest Bancorp in a report on Friday, December 8th. BidaskClub raised First Midwest Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, January 16th. Zacks Investment Research raised First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Friday, January 12th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $29.00 price target on shares of First Midwest Bancorp in a report on Tuesday, January 9th. Finally, Sandler O’Neill set a $26.00 price target on First Midwest Bancorp and gave the company a “hold” rating in a report on Wednesday, January 3rd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. First Midwest Bancorp presently has a consensus rating of “Buy” and a consensus target price of $26.67.
First Midwest Bancorp (NASDAQ:FMBI) traded up $0.51 during trading hours on Tuesday, hitting $25.37. The company had a trading volume of 911,842 shares, compared to its average volume of 686,652. First Midwest Bancorp has a 12-month low of $20.50 and a 12-month high of $26.48. 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 firm has a market capitalization of $2,565.14, a PE ratio of 25.96, a PEG ratio of 2.07 and a beta of 1.17.
First Midwest Bancorp (NASDAQ:FMBI) last released its earnings results on Monday, January 29th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $154.24 million during the quarter, compared to analysts’ expectations of $162.84 million. First Midwest Bancorp had a net margin of 14.59% and a return on equity of 7.72%. During the same quarter last year, the business earned $0.32 EPS.
Hedge funds have recently bought and sold shares of the business. New York State Common Retirement Fund increased its stake in First Midwest Bancorp by 23.9% during the second quarter. New York State Common Retirement Fund now owns 109,200 shares of the financial services provider’s stock worth $2,545,000 after acquiring an additional 21,099 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in First Midwest Bancorp by 15.4% during the second quarter. Parametric Portfolio Associates LLC now owns 190,758 shares of the financial services provider’s stock worth $4,447,000 after acquiring an additional 25,470 shares during the last quarter. Prudential Financial Inc. increased its stake in First Midwest Bancorp by 11.1% during the third quarter. Prudential Financial Inc. now owns 221,386 shares of the financial services provider’s stock worth $5,185,000 after acquiring an additional 22,060 shares during the last quarter. State Street Corp increased its stake in First Midwest Bancorp by 21.5% during the second quarter. State Street Corp now owns 3,645,798 shares of the financial services provider’s stock worth $84,982,000 after acquiring an additional 644,968 shares during the last quarter. Finally, Pzena Investment Management LLC increased its stake in First Midwest Bancorp by 3.7% during the third quarter. Pzena Investment Management LLC now owns 1,325,864 shares of the financial services provider’s stock worth $31,052,000 after acquiring an additional 47,760 shares during the last quarter. 81.23% of the stock is owned by institutional investors.
In other First Midwest Bancorp news, Director Robert P. Omeara sold 50,000 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.69% of the stock is owned by company insiders.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 9th. Shareholders of record on Friday, December 22nd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 21st. This represents a $0.40 annualized dividend and a yield of 1.58%. First Midwest Bancorp’s dividend payout ratio (DPR) is 41.67%.
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First Midwest Bancorp Company 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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