Chartwell Investment Partners LLC Trims Position in First Midwest Bancorp Inc (FMBI)

Chartwell Investment Partners LLC lowered its position in shares of First Midwest Bancorp Inc (NASDAQ:FMBI) by 3.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 577,255 shares of the financial services provider’s stock after selling 21,685 shares during the period. Chartwell Investment Partners LLC owned about 0.56% of First Midwest Bancorp worth $13,860,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of FMBI. New York State Common Retirement Fund grew its position in shares of First Midwest Bancorp by 23.9% in the 2nd quarter. New York State Common Retirement Fund now owns 109,200 shares of the financial services provider’s stock valued at $2,545,000 after buying an additional 21,099 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in shares of First Midwest Bancorp by 15.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 190,758 shares of the financial services provider’s stock valued at $4,447,000 after buying an additional 25,470 shares during the last quarter. Voya Investment Management LLC grew its position in shares of First Midwest Bancorp by 20.4% in the 2nd quarter. Voya Investment Management LLC now owns 42,818 shares of the financial services provider’s stock valued at $998,000 after buying an additional 7,266 shares during the last quarter. State Street Corp grew its position in shares of First Midwest Bancorp by 21.5% in the 2nd quarter. State Street Corp now owns 3,645,798 shares of the financial services provider’s stock valued at $84,982,000 after buying an additional 644,968 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of First Midwest Bancorp by 24.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 76,933 shares of the financial services provider’s stock valued at $1,794,000 after buying an additional 15,052 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

In related news, Director Robert P. Omeara sold 50,000 shares of the company’s stock in a transaction that occurred 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 filing with the SEC, which is available through the SEC website. 1.69% of the stock is owned by corporate insiders.

Shares of First Midwest Bancorp Inc (NASDAQ FMBI) opened at $24.94 on Friday. First Midwest Bancorp Inc has a 52-week low of $20.50 and a 52-week high of $26.48. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.98 and a current ratio of 0.97. The company has a market capitalization of $2,551.49, a PE ratio of 17.74, a P/E/G ratio of 2.05 and a beta of 1.18.

First Midwest Bancorp (NASDAQ:FMBI) last announced its earnings results on Monday, January 29th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). First Midwest Bancorp had a net margin of 14.59% and a return on equity of 7.69%. The business had revenue of $154.24 million for the quarter, compared to the consensus estimate of $162.84 million. During the same quarter in the previous year, the company earned $0.32 EPS. research analysts forecast that First Midwest Bancorp Inc will post 1.73 earnings per share for the current year.

A number of equities research analysts have commented on the company. Zacks Investment Research lowered First Midwest Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. Piper Jaffray Companies restated a “buy” rating and set a $29.00 target price on shares of First Midwest Bancorp in a research report on Tuesday, January 9th. Sandler O’Neill set a $26.00 target price on First Midwest Bancorp and gave the company a “hold” rating in a research report on Wednesday, January 3rd. Finally, Jefferies Group restated a “buy” rating and set a $28.00 target price on shares of First Midwest Bancorp in a research report on Friday, December 8th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $26.67.

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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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