Press coverage about First Midwest Bancorp (NASDAQ:FMBI) has trended somewhat positive this week, according to Accern. Accern identifies negative and positive media coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. First Midwest Bancorp earned a news impact score of 0.18 on Accern’s scale. Accern also assigned media coverage about the financial services provider an impact score of 44.7140741204514 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the news headlines that may have impacted Accern Sentiment Analysis’s scoring:
FMBI has been the subject of several recent research reports. BidaskClub raised shares of First Midwest Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. Zacks Investment Research raised shares of First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Friday, January 12th. Piper Jaffray reissued a “buy” rating and issued a $29.00 price objective on shares of First Midwest Bancorp in a research note on Tuesday, January 9th. 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, ValuEngine cut shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $26.67.
Shares of NASDAQ:FMBI opened at $24.80 on Wednesday. The company has a market capitalization of $2,503.08, a P/E ratio of 18.37, a PEG ratio of 2.03 and a beta of 1.11. First Midwest Bancorp has a fifty-two week low of $20.50 and a fifty-two week high of $26.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.97.
First Midwest Bancorp (NASDAQ:FMBI) last issued its earnings results on Monday, January 29th. The financial services provider reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). The firm had revenue of $154.24 million during the quarter, compared to analyst estimates of $162.84 million. First Midwest Bancorp had a net margin of 14.59% and a return on equity of 7.69%. During the same period last year, the business earned $0.32 EPS. analysts predict that First Midwest Bancorp will post 1.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 10th. Investors of record on Friday, March 23rd were issued a $0.11 dividend. This is a boost from First Midwest Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, March 22nd. This represents a $0.44 annualized dividend and a yield of 1.77%. First Midwest Bancorp’s dividend payout ratio (DPR) is 32.59%.
In related news, CEO Michael L. Scudder sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $26.15, for a total value of $130,750.00. Following the sale, the chief executive officer now owns 81,720 shares of the company’s stock, valued at $2,136,978. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark G. Sander sold 42,328 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $26.11, for a total transaction of $1,105,184.08. Following the completion of the sale, the insider now directly owns 234,017 shares in the company, valued at approximately $6,110,183.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,382 shares of company stock worth $2,388,662. 1.69% of the stock is owned by corporate insiders.
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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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