First Midwest Bancorp Inc (NASDAQ:FMBI) – Research analysts at DA Davidson boosted their FY2018 earnings estimates for First Midwest Bancorp in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. DA Davidson analyst K. Reevey now anticipates that the financial services provider will post earnings per share of $1.73 for the year, up from their prior forecast of $1.61.
A number of other brokerages have also issued reports on FMBI. BidaskClub lowered First Midwest Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, January 30th. Zacks Investment Research upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Friday, January 12th. Jefferies Group reiterated a “buy” rating and set a $28.00 target price on shares of First Midwest Bancorp in a research report on Friday, December 8th. Piper Jaffray Companies reiterated a “buy” rating and set a $29.00 target price on shares of First Midwest Bancorp in a research report on Tuesday, January 9th. Finally, Sandler O’Neill set a $26.00 target price on First Midwest Bancorp and gave the company a “hold” rating in a research report on Wednesday, January 3rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $26.67.
Shares of First Midwest Bancorp (NASDAQ FMBI) traded up $0.12 during trading hours on Friday, hitting $24.15. The stock had a trading volume of 744,012 shares, compared to its average volume of 685,148. First Midwest Bancorp has a 52-week low of $20.50 and a 52-week high of $26.48. The stock has a market cap of $2,480.62, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 2.00 and a beta of 1.18. The company has a quick ratio of 0.98, a current ratio of 0.97 and a debt-to-equity ratio of 0.49.
First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). First Midwest Bancorp had a return on equity of 7.69% and a net margin of 14.59%. The firm had revenue of $154.24 million for the quarter, compared to analyst estimates of $162.84 million. During the same period in the previous year, the business earned $0.32 EPS.
In other First Midwest Bancorp news, Director Robert P. Omeara sold 50,000 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $24.56, for a total value of $1,228,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.69% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Zions Bancorporation purchased a new position in shares of First Midwest Bancorp during the 3rd quarter worth $112,000. Quantbot Technologies LP purchased a new position in shares of First Midwest Bancorp during the 3rd quarter worth $118,000. CIBC Asset Management Inc purchased a new position in shares of First Midwest Bancorp during the 3rd quarter worth $201,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of First Midwest Bancorp during the 2nd quarter worth $213,000. Finally, MPS Loria Financial Planners LLC purchased a new position in shares of First Midwest Bancorp during the 2nd quarter worth $235,000. Institutional investors own 80.85% of the company’s stock.
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First Midwest Bancorp Company 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.
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