Equities research analysts expect First Midwest Bancorp Inc (NASDAQ:FMBI) to report earnings per share of $0.49 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for First Midwest Bancorp’s earnings. The highest EPS estimate is $0.50 and the lowest is $0.48. First Midwest Bancorp reported earnings of $0.46 per share during the same quarter last year, which indicates a positive year over year growth rate of 6.5%. The business is scheduled to issue its next earnings report after the market closes on Tuesday, October 22nd.
On average, analysts expect that First Midwest Bancorp will report full-year earnings of $1.95 per share for the current financial year, with EPS estimates ranging from $1.91 to $1.98. For the next year, analysts anticipate that the business will report earnings of $2.03 per share, with EPS estimates ranging from $1.98 to $2.08. Zacks’ EPS calculations are an average based on a survey of analysts that cover First Midwest Bancorp.
First Midwest Bancorp (NASDAQ:FMBI) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.03. First Midwest Bancorp had a net margin of 23.58% and a return on equity of 9.51%. The firm had revenue of $190.02 million during the quarter, compared to the consensus estimate of $187.13 million. During the same quarter last year, the firm earned $0.40 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis.
FMBI has been the subject of several research reports. Zacks Investment Research upgraded shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 29th. BidaskClub downgraded shares of First Midwest Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 8th. Stephens upgraded shares of First Midwest Bancorp from an “equal” rating to an “overweight” rating and lifted their target price for the company from $21.00 to $23.00 in a report on Tuesday, October 8th. ValuEngine upgraded shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Raymond James downgraded shares of First Midwest Bancorp to a “hold” rating in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.80.
First Midwest Bancorp stock traded up $0.16 during trading on Monday, hitting $20.02. The company had a trading volume of 427,935 shares, compared to its average volume of 540,965. First Midwest Bancorp has a 1-year low of $18.10 and a 1-year high of $24.88. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.71. The company’s 50 day simple moving average is $19.44 and its 200-day simple moving average is $20.20. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 11.99 and a beta of 1.26.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Friday, September 27th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.56 annualized dividend and a dividend yield of 2.80%. First Midwest Bancorp’s dividend payout ratio (DPR) is 33.53%.
Large investors have recently bought and sold shares of the business. AdvisorNet Financial Inc acquired a new position in shares of First Midwest Bancorp in the second quarter worth $31,000. Rockefeller Capital Management L.P. grew its stake in shares of First Midwest Bancorp by 83.2% in the second quarter. Rockefeller Capital Management L.P. now owns 1,533 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 696 shares in the last quarter. NumerixS Investment Technologies Inc grew its stake in shares of First Midwest Bancorp by 47.3% in the second quarter. NumerixS Investment Technologies Inc now owns 2,725 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 875 shares in the last quarter. Pearl River Capital LLC acquired a new position in shares of First Midwest Bancorp in the second quarter worth $88,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of First Midwest Bancorp by 17.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,002 shares of the financial services provider’s stock worth $136,000 after acquiring an additional 1,026 shares in the last quarter. Institutional investors and hedge funds own 82.33% of the company’s stock.
First Midwest Bancorp Company Profile
First Midwest Bancorp, Inc operates as the 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; 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 consumer secured loans, as well as funding for the construction, purchase, refinance, or improvement of commercial real estate properties.
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