First Midwest Bancorp Receives Average Recommendation of “Buy” from Brokerages (NASDAQ:FMBI)
Shares of First Midwest Bancorp (NASDAQ:FMBI) have been given a consensus rating of “Buy” by the ten brokerages that are covering the stock, American Banking News reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $18.26.
First Midwest Bancorp (NASDAQ:FMBI) traded down 0.41% during mid-day trading on Thursday, hitting $16.87. The stock had a trading volume of 30,539 shares. First Midwest Bancorp has a 52 week low of $13.35 and a 52 week high of $18.49. The stock’s 50-day moving average is $16.50 and its 200-day moving average is $16.77. The company has a market cap of $1.270 billion and a price-to-earnings ratio of 15.44.
First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.24 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.25 by $0.01. During the same quarter in the prior year, the company posted $0.20 earnings per share. Analysts expect that First Midwest Bancorp will post $1.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Wednesday, June 25th. This is a positive change from First Midwest Bancorp’s previous quarterly dividend of $0.07.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of First Midwest Bancorp from a “neutral” rating to an “outperform” rating in a research note on Wednesday. They now have a $20.10 price target on the stock. Separately, analysts at Sandler O’Neill upgraded shares of First Midwest Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. They now have a $19.00 price target on the stock. Finally, analysts at Keefe, Bruyette & Woods cut their price target on shares of First Midwest Bancorp from $18.50 to $17.50 in a research note on Thursday, April 24th.
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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