Bank of New York Mellon Corp Has $57.89 Million Stake in First Midwest Bancorp, Inc. (NASDAQ:FMBI)

Bank of New York Mellon Corp boosted its position in shares of First Midwest Bancorp, Inc. (NASDAQ:FMBI) by 18.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,483,563 shares of the financial services provider’s stock after purchasing an additional 380,112 shares during the period. Bank of New York Mellon Corp owned 2.42% of First Midwest Bancorp worth $57,890,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of First Midwest Bancorp by 49,897.9% during the 1st quarter. BlackRock Inc. now owns 10,336,571 shares of the financial services provider’s stock valued at $244,770,000 after acquiring an additional 10,315,897 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of First Midwest Bancorp by 15.1% during the 1st quarter. Vanguard Group Inc. now owns 7,920,350 shares of the financial services provider’s stock valued at $187,554,000 after acquiring an additional 1,037,514 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of First Midwest Bancorp by 8.5% during the 1st quarter. Wellington Management Group LLP now owns 5,144,949 shares of the financial services provider’s stock valued at $121,832,000 after acquiring an additional 402,445 shares in the last quarter. State Street Corp grew its holdings in shares of First Midwest Bancorp by 27.7% during the 1st quarter. State Street Corp now owns 3,000,830 shares of the financial services provider’s stock valued at $71,057,000 after acquiring an additional 650,722 shares in the last quarter. Finally, Macquarie Group Ltd. grew its holdings in shares of First Midwest Bancorp by 3.9% during the 1st quarter. Macquarie Group Ltd. now owns 2,318,591 shares of the financial services provider’s stock valued at $54,904,000 after acquiring an additional 86,379 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

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FMBI has been the topic of several research analyst reports. BidaskClub cut shares of First Midwest Bancorp from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Jefferies Group LLC restated a “buy” rating and set a $27.00 price target on shares of First Midwest Bancorp in a report on Sunday, June 11th. Zacks Investment Research upgraded shares of First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Friday, July 7th. ValuEngine cut shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, FIG Partners cut shares of First Midwest Bancorp from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $26.00 to $25.00 in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $26.17.

First Midwest Bancorp, Inc. (NASDAQ FMBI) traded down 0.05% during midday trading on Friday, hitting $21.97. 3,744,629 shares of the company traded hands. First Midwest Bancorp, Inc. has a 12-month low of $18.75 and a 12-month high of $25.83. The stock’s 50-day moving average is $21.46 and its 200-day moving average is $22.80. The firm has a market capitalization of $2.26 billion, a PE ratio of 18.84 and a beta of 1.15.

First Midwest Bancorp (NASDAQ:FMBI) last released its earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The business had revenue of $162.53 million during the quarter, compared to the consensus estimate of $164.02 million. First Midwest Bancorp had a net margin of 17.30% and a return on equity of 7.81%. During the same period last year, the business posted $0.32 EPS. Analysts anticipate that First Midwest Bancorp, Inc. will post $1.30 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Thursday, September 28th. First Midwest Bancorp’s dividend payout ratio (DPR) is currently 34.19%.

First Midwest Bancorp Profile

First Midwest Bancorp, Inc is a bank holding company. The Company’s principal subsidiary, First Midwest Bank (the Bank), is an Illinois state-chartered bank and provides a range of banking, treasury and wealth management products and services, to commercial and industrial, commercial real estate, municipal and consumer customers.

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

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