14,872 Shares in First Midwest Bancorp Inc (FMBI) Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new position in First Midwest Bancorp Inc (NASDAQ:FMBI) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,872 shares of the financial services provider’s stock, valued at approximately $365,000.

Several other institutional investors have also modified their holdings of FMBI. Schwab Charles Investment Management Inc. grew its stake in shares of First Midwest Bancorp by 10.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 538,812 shares of the financial services provider’s stock worth $12,937,000 after purchasing an additional 49,430 shares during the last quarter. Aperio Group LLC grew its stake in shares of First Midwest Bancorp by 50.1% in the fourth quarter. Aperio Group LLC now owns 34,800 shares of the financial services provider’s stock worth $836,000 after purchasing an additional 11,617 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of First Midwest Bancorp in the fourth quarter worth $847,000. California Public Employees Retirement System grew its stake in shares of First Midwest Bancorp by 4.2% in the fourth quarter. California Public Employees Retirement System now owns 219,997 shares of the financial services provider’s stock worth $5,282,000 after purchasing an additional 8,846 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of First Midwest Bancorp by 16.4% in the fourth quarter. Swiss National Bank now owns 175,000 shares of the financial services provider’s stock worth $4,202,000 after purchasing an additional 24,700 shares during the last quarter. 83.82% of the stock is currently owned by institutional investors.

A number of analysts have commented on the stock. Stephens cut shares of First Midwest Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Friday, June 8th. UBS Group raised shares of First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 28th. Raymond James raised shares of First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 28th. BidaskClub cut shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, April 28th. Finally, ValuEngine cut shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $26.67.

Shares of FMBI opened at $26.87 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 2.36 and a beta of 1.14. First Midwest Bancorp Inc has a 12 month low of $20.50 and a 12 month high of $27.40.

First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings results on Tuesday, April 24th. The financial services provider reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.05). The firm had revenue of $154.08 million for the quarter, compared to the consensus estimate of $160.44 million. First Midwest Bancorp had a net margin of 16.08% and a return on equity of 7.59%. During the same period last year, the company posted $0.34 EPS. sell-side analysts predict that First Midwest Bancorp Inc will post 1.62 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 10th. Stockholders of record on Friday, June 29th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, June 28th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.64%. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 32.59%.

In other news, EVP James P. Hotchkiss sold 3,900 shares of the stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $26.59, for a total transaction of $103,701.00. Following the transaction, the executive vice president now owns 64,519 shares of the company’s stock, valued at approximately $1,715,560.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael C. Spitler sold 10,000 shares of the stock in a transaction dated Wednesday, May 2nd. The stock was sold at an average price of $24.68, for a total transaction of $246,800.00. Following the transaction, the executive vice president now directly owns 26,174 shares in the company, valued at approximately $645,974.32. The disclosure for this sale can be found here. 1.69% of the stock is owned by corporate insiders.

First Midwest Bancorp Company Profile

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.

Institutional Ownership by Quarter for First Midwest Bancorp (NASDAQ:FMBI)

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