First Midwest Bancorp Inc (NASDAQ:FMBI) declared a quarterly dividend on Thursday, May 17th, RTT News reports. Shareholders of record on Friday, June 29th will be given a dividend of 0.11 per share by the financial services provider on Tuesday, July 10th. This represents a $0.44 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, June 28th.
First Midwest Bancorp opened at $26.24 on Wednesday, according to Marketbeat Ratings. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 2.33 and a beta of 1.14. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.97 and a quick ratio of 0.97. First Midwest Bancorp has a one year low of $20.50 and a one year high of $27.40.
First Midwest Bancorp (NASDAQ:FMBI) last released its quarterly earnings results on Tuesday, April 24th. The financial services provider reported $0.33 earnings per share for the quarter, missing the 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 in the previous year, the company earned $0.34 earnings per share. equities research analysts forecast that First Midwest Bancorp will post 1.62 EPS for the current fiscal year.
Several research firms have recently weighed in on FMBI. Stephens cut First Midwest Bancorp from an “overweight” rating to an “equal weight” rating in a report on Friday, June 8th. BidaskClub raised First Midwest Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 22nd. ValuEngine cut First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. UBS Group raised First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 28th. Finally, Raymond James raised First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 28th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. First Midwest Bancorp currently has a consensus rating of “Hold” and a consensus target price of $26.67.
In related news, EVP James P. Hotchkiss sold 3,900 shares of the firm’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $26.59, for a total value of $103,701.00. Following the transaction, the executive vice president now directly owns 64,519 shares of the company’s stock, valued at approximately $1,715,560.21. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michael C. Spitler sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $24.68, for a total value of $246,800.00. Following the completion of the transaction, the executive vice president now directly owns 26,174 shares in the company, valued at $645,974.32. The disclosure for this sale can be found here. 1.47% of the stock is currently owned by company 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.
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