First Midwest Bancorp (NASDAQ:FMBI) Director Robert P. Omeara sold 5,200 shares of the firm’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $26.50, for a total value of $137,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Robert P. Omeara also recently made the following trade(s):
- On Wednesday, March 7th, Robert P. Omeara sold 25,300 shares of First Midwest Bancorp stock. The stock was sold at an average price of $26.00, for a total value of $657,800.00.
Shares of NASDAQ:FMBI traded down $0.64 during midday trading on Friday, reaching $24.30. 425,016 shares of the company’s stock were exchanged, compared to its average volume of 473,670. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $2,569.01, a price-to-earnings ratio of 18.00, a PEG ratio of 2.09 and a beta of 1.12. First Midwest Bancorp has a fifty-two week low of $20.50 and a fifty-two week high of $26.55.
First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The business had revenue of $154.24 million for the quarter, compared to analyst estimates of $162.84 million. First Midwest Bancorp had a return on equity of 7.69% and a net margin of 14.59%. During the same period in the previous year, the business posted $0.32 earnings per share. equities research analysts predict that First Midwest Bancorp will post 1.71 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Friday, March 23rd will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.81%. This is an increase from First Midwest Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, March 22nd. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 32.59%.
A number of analysts have issued reports on the company. Raymond James Financial raised First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 28th. Jefferies Group reaffirmed a “buy” rating and issued a $28.00 target price on shares of First Midwest Bancorp in a research note on Friday, December 8th. Piper Jaffray reaffirmed a “buy” rating and issued a $29.00 target price on shares of First Midwest Bancorp in a research note on Tuesday, January 9th. Zacks Investment Research downgraded First Midwest Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Finally, BidaskClub raised First Midwest Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. First Midwest Bancorp has a consensus rating of “Buy” and an average target price of $26.67.
Several large investors have recently modified their holdings of FMBI. Crossmark Global Holdings Inc. acquired a new stake in shares of First Midwest Bancorp during the 3rd quarter worth about $376,000. Victory Capital Management Inc. increased its position in shares of First Midwest Bancorp by 38.8% during the 3rd quarter. Victory Capital Management Inc. now owns 10,915 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 3,053 shares during the last quarter. Prudential Financial Inc. increased its position in shares of First Midwest Bancorp by 11.1% during the 3rd quarter. Prudential Financial Inc. now owns 221,386 shares of the financial services provider’s stock worth $5,185,000 after purchasing an additional 22,060 shares during the last quarter. Boston Partners increased its position in shares of First Midwest Bancorp by 2.3% during the 3rd quarter. Boston Partners now owns 535,039 shares of the financial services provider’s stock worth $12,531,000 after purchasing an additional 11,798 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of First Midwest Bancorp by 24.6% during the 3rd quarter. Principal Financial Group Inc. now owns 785,466 shares of the financial services provider’s stock worth $18,395,000 after purchasing an additional 155,318 shares during the last quarter. 83.68% of the stock is owned by hedge funds and other institutional investors.
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About First Midwest Bancorp
First Midwest Bancorp, Inc operates as a bank holding company for First Midwest Bank that provides various banking products and services. The company accepts checking, NOW, money market, and savings accounts, as well as various types of short-term and long-term certificates of deposit. Its loan products include working capital loans and lines of credit; accounts receivable financing; inventory and equipment financing; sector-based lending, including healthcare, asset-based lending, structured finance, and syndications; agricultural loans; and mortgages, home equity lines and loans, personal loans, specialty loans, and auto loans, as well as funding for the construction, purchase, refinance, or improvement of commercial real estate properties.
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