SG Americas Securities LLC lowered its position in First Midwest Bancorp Inc (NASDAQ:FMBI) by 24.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,492 shares of the financial services provider’s stock after selling 18,847 shares during the quarter. SG Americas Securities LLC’s holdings in First Midwest Bancorp were worth $1,582,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in FMBI. First Trust Advisors LP increased its holdings in shares of First Midwest Bancorp by 2.5% during the second quarter. First Trust Advisors LP now owns 201,649 shares of the financial services provider’s stock valued at $5,136,000 after acquiring an additional 4,852 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of First Midwest Bancorp by 15.9% during the second quarter. Victory Capital Management Inc. now owns 16,378 shares of the financial services provider’s stock valued at $417,000 after acquiring an additional 2,246 shares in the last quarter. FSI Group LLC bought a new position in shares of First Midwest Bancorp during the second quarter valued at $214,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of First Midwest Bancorp during the second quarter valued at $555,000. Finally, Sei Investments Co. increased its holdings in shares of First Midwest Bancorp by 6.2% during the second quarter. Sei Investments Co. now owns 76,372 shares of the financial services provider’s stock valued at $1,945,000 after acquiring an additional 4,476 shares in the last quarter. Institutional investors own 80.38% of the company’s stock.
In other First Midwest Bancorp news, Director Frank Blaise Modruson acquired 4,444 shares of First Midwest Bancorp stock in a transaction that occurred on Monday, October 29th. The stock was bought at an average cost of $22.53 per share, for a total transaction of $100,123.32. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.47% of the stock is currently owned by company insiders.
FMBI has been the subject of several analyst reports. BidaskClub downgraded First Midwest Bancorp from a “hold” rating to a “sell” rating in a report on Friday, August 31st. Raymond James set a $25.00 price target on First Midwest Bancorp and gave the company a “buy” rating in a report on Thursday, October 25th. Zacks Investment Research downgraded First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. ValuEngine downgraded First Midwest Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, November 15th. Finally, Piper Jaffray Companies set a $26.00 price objective on First Midwest Bancorp and gave the stock a “buy” rating in a report on Friday, October 26th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. First Midwest Bancorp has an average rating of “Hold” and an average target price of $27.92.
NASDAQ FMBI opened at $22.03 on Wednesday. First Midwest Bancorp Inc has a one year low of $21.25 and a one year high of $27.70. The stock has a market capitalization of $2.51 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 1.99 and a beta of 1.18. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.66.
First Midwest Bancorp (NASDAQ:FMBI) last released its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. First Midwest Bancorp had a return on equity of 8.22% and a net margin of 17.04%. The company had revenue of $167.69 million during the quarter, compared to the consensus estimate of $168.87 million. During the same period last year, the company earned $0.37 EPS. On average, sell-side analysts expect that First Midwest Bancorp Inc will post 1.67 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 8th. Investors of record on Friday, December 21st will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.18%. This is an increase from First Midwest Bancorp’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, December 20th. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 32.59%.
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First Midwest Bancorp 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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