First Midwest Bancorp Downgraded by Oppenheimer to Market Perform (FMBI)
First Midwest Bancorp (NASDAQ:FMBI) was downgraded by Oppenheimer from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday, TheFlyOnTheWall.com reports.
First Midwest Bancorp (NASDAQ:FMBI) traded down 1.08% on Wednesday, hitting $17.43. 651,550 shares of the company’s stock traded hands. First Midwest Bancorp has a 52-week low of $11.57 and a 52-week high of $18.49. The stock has a 50-day moving average of $17.67 and a 200-day moving average of $15.95. The company has a market cap of $1.308 billion and a price-to-earnings ratio of 18.02.
First Midwest Bancorp (NASDAQ:FMBI) last released its earnings data on Wednesday, October 23rd. The company reported $0.39 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.24 by $0.15. During the same quarter in the prior year, the company posted ($0.65) earnings per share. On average, analysts predict that First Midwest Bancorp will post $1.06 earnings per share for the current fiscal year.
FMBI has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of First Midwest Bancorp from an “outperform” rating to a “neutral” rating in a research note to investors on Monday. They now have a $20.10 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of First Midwest Bancorp from $17.00 to $18.50 in a research note to investors on Tuesday, November 5th. They now have a “buy” rating on the stock. Finally, analysts at Thomson Reuters/Verus upgraded shares of First Midwest Bancorp from a “hold” rating to a “buy” rating in a research note to investors on Monday, November 4th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. First Midwest Bancorp presently has an average rating of “Hold” and a consensus price target of $17.23.
First Midwest Bancorp, Inc is a bank holding company with operations throughout the greater Chicago metropolitan area as well as northwest Indiana, central and western Illinois, and eastern Iowa.
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