Millennium Management LLC decreased its holdings in shares of First Midwest Bancorp Inc (NASDAQ:FMBI) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,156,143 shares of the financial services provider’s stock after selling 136,865 shares during the quarter. Millennium Management LLC owned about 2.10% of First Midwest Bancorp worth $51,769,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Zions Bancorporation acquired a new position in First Midwest Bancorp in the third quarter valued at $112,000. Quantbot Technologies LP acquired a new position in First Midwest Bancorp in the third quarter valued at $118,000. CIBC Asset Management Inc acquired a new position in First Midwest Bancorp in the third quarter valued at $201,000. Victory Capital Management Inc. boosted its holdings in First Midwest Bancorp by 38.8% in the third quarter. Victory Capital Management Inc. now owns 10,915 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 3,053 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in First Midwest Bancorp by 62.5% in the third quarter. Dynamic Technology Lab Private Ltd now owns 14,829 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 5,703 shares during the last quarter. Institutional investors and hedge funds own 83.68% of the company’s stock.
FMBI stock opened at $25.72 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.97. First Midwest Bancorp Inc has a 52-week low of $20.50 and a 52-week high of $26.55. The company has a market capitalization of $2,667.90, a PE ratio of 26.79, a price-to-earnings-growth ratio of 2.15 and a beta of 1.16.
First Midwest Bancorp (NASDAQ:FMBI) last released its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). First Midwest Bancorp had a net margin of 14.59% and a return on equity of 7.69%. The company had revenue of $154.24 million during the quarter, compared to analysts’ expectations of $162.84 million. During the same period last year, the business earned $0.32 earnings per share. equities research analysts anticipate that First Midwest Bancorp Inc will post 1.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Friday, March 23rd will be given a $0.11 dividend. The ex-dividend date of this dividend is Thursday, March 22nd. This is a positive change from First Midwest Bancorp’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 1.71%. First Midwest Bancorp’s dividend payout ratio (DPR) is 41.67%.
In other First Midwest Bancorp news, Director Robert P. Omeara sold 25,300 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $26.00, for a total value of $657,800.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark G. Sander sold 42,328 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $26.11, for a total value of $1,105,184.08. Following the completion of the transaction, the insider now directly owns 234,017 shares in the company, valued at $6,110,183.87. The disclosure for this sale can be found here. Insiders sold 91,382 shares of company stock worth $2,388,662 over the last three months. 1.69% of the stock is currently owned by corporate insiders.
A number of research analysts recently weighed in on the company. Jefferies Group reiterated a “buy” rating and issued a $28.00 target price on shares of First Midwest Bancorp in a report on Friday, December 8th. Piper Jaffray Companies reiterated a “buy” rating and issued a $29.00 target price on shares of First Midwest Bancorp in a report on Tuesday, January 9th. Zacks Investment Research cut First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. BidaskClub upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. Finally, Sandler O’Neill set a $26.00 target price on First Midwest Bancorp and gave the company a “hold” rating in a report on Wednesday, January 3rd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $26.67.
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.
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