According to Zacks, “FIRST MIDWEST BANCORP, INC. is a multi-bank holding company engaged in commercial banking, trust, investment management, insurance, mortgage origination and servicing activities. “
A number of other brokerages also recently weighed in on FMBI. Piper Sandler dropped their price objective on First Midwest Bancorp from $16.00 to $14.00 and set an overweight rating on the stock in a research report on Tuesday, September 29th. ValuEngine cut First Midwest Bancorp from a hold rating to a sell rating in a research note on Tuesday, August 4th. Finally, BidaskClub upgraded First Midwest Bancorp from a sell rating to a hold rating in a research note on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $13.88.
Shares of FMBI stock opened at $12.73 on Friday. First Midwest Bancorp has a 1-year low of $10.31 and a 1-year high of $23.64. The stock’s 50-day moving average is $11.69 and its 200 day moving average is $12.68. The company has a market cap of $1.46 billion, a P/E ratio of 12.48 and a beta of 1.27. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.01 and a quick ratio of 1.01.
First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. First Midwest Bancorp had a return on equity of 6.70% and a net margin of 16.97%. During the same quarter in the prior year, the company earned $0.52 EPS. On average, analysts anticipate that First Midwest Bancorp will post 0.91 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Friday, September 25th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date was Thursday, September 24th. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 28.28%.
A number of institutional investors have recently added to or reduced their stakes in FMBI. UBS Group AG raised its position in First Midwest Bancorp by 46.9% in the second quarter. UBS Group AG now owns 85,692 shares of the financial services provider’s stock valued at $1,144,000 after purchasing an additional 27,346 shares during the period. Geode Capital Management LLC boosted its position in shares of First Midwest Bancorp by 7.3% in the 1st quarter. Geode Capital Management LLC now owns 1,581,386 shares of the financial services provider’s stock valued at $20,929,000 after purchasing an additional 107,294 shares during the period. Swiss National Bank boosted its position in shares of First Midwest Bancorp by 15.0% in the 2nd quarter. Swiss National Bank now owns 245,400 shares of the financial services provider’s stock valued at $3,276,000 after purchasing an additional 32,100 shares during the period. Principal Financial Group Inc. raised its stake in First Midwest Bancorp by 29.6% during the 2nd quarter. Principal Financial Group Inc. now owns 2,036,745 shares of the financial services provider’s stock valued at $27,191,000 after acquiring an additional 465,143 shares during the last quarter. Finally, Comerica Bank raised its stake in First Midwest Bancorp by 14.6% during the 2nd quarter. Comerica Bank now owns 178,457 shares of the financial services provider’s stock valued at $2,256,000 after acquiring an additional 22,782 shares during the last quarter. Institutional investors own 80.21% of the company’s stock.
About First Midwest Bancorp
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 and unsecured loans, as well as funding for the construction, purchase, refinance, or improvement of commercial real estate properties.
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