First Midwest Bancorp (FMBI) Announces Quarterly Earnings Results, Meets Expectations
First Midwest Bancorp (NASDAQ:FMBI) posted its quarterly earnings results on Wednesday. The company reported $0.26 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.26, StockRatingsNetwork.com reports.
A number of research firms have recently commented on FMBI. Analysts at Oppenheimer downgraded shares of First Midwest Bancorp from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, January 8th. On a related note, 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, January 6th. They now have a $20.10 price target on the stock. Finally, 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. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $17.23.
Shares of First Midwest Bancorp (NASDAQ:FMBI) opened at 17.46 on Wednesday. First Midwest Bancorp has a 52-week low of $11.57 and a 52-week high of $18.49. The stock’s 50-day moving average is $17.55 and its 200-day moving average is $16.21. The company has a market cap of $1.311 billion and a P/E ratio of 17.56.
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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