First Midwest Bancorp Receives Average Recommendation of “Buy” from Analysts (NASDAQ:FMBI)
First Midwest Bancorp (NASDAQ:FMBI) has received an average recommendation of “Buy” from the nine ratings firms that are covering the stock, AnalystRatingsNetwork.com reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $18.66.
A number of research firms have recently commented on FMBI. Analysts at Jefferies Group reiterated a “buy” rating on shares of First Midwest Bancorp in a research note on Thursday, July 24th. They now have a $19.00 price target on the stock, down previously from $20.00. Separately, analysts at Robert W. Baird raised their price target on shares of First Midwest Bancorp from $17.00 to $18.00 in a research note on Thursday, July 10th. They now have a “neutral” rating on the stock. Finally, analysts at Zacks upgraded shares of First Midwest Bancorp from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 25th. They now have a $20.10 price target on the stock.
Shares of First Midwest Bancorp (NASDAQ:FMBI) traded up 0.37% on Thursday, hitting $16.16. 7,459 shares of the company’s stock traded hands. First Midwest Bancorp has a one year low of $14.49 and a one year high of $18.49. The stock’s 50-day moving average is $16.87 and its 200-day moving average is $16.63. The company has a market cap of $1.216 billion and a P/E ratio of 14.29.
First Midwest Bancorp (NASDAQ:FMBI) last announced its earnings results on Tuesday, July 22nd. The company reported $0.25 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.25. On average, analysts predict that First Midwest Bancorp will post $1.02 earnings per share for the current fiscal year.
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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