First Midwest Bancorp, Inc. (NASDAQ:FMBI) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.

Several other brokerages have also issued reports on FMBI. Jefferies Group LLC reaffirmed a “buy” rating and issued a $27.00 target price on shares of First Midwest Bancorp in a research note on Sunday, June 11th. FIG Partners upgraded shares of First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a research report on Friday, May 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $25.00 price target on shares of First Midwest Bancorp in a research report on Wednesday, April 12th. Finally, Zacks Investment Research downgraded shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $26.75.

Shares of First Midwest Bancorp (FMBI) traded down 0.72% during mid-day trading on Friday, hitting $23.31. 531,906 shares of the stock were exchanged. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 20.70 and a beta of 1.19. The company’s 50-day moving average is $22.89 and its 200-day moving average is $23.76. First Midwest Bancorp has a 1-year low of $16.68 and a 1-year high of $25.83.

First Midwest Bancorp (NASDAQ:FMBI) last issued its earnings results on Tuesday, April 25th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. The company had revenue of $155.15 million for the quarter, compared to analyst estimates of $162 million. First Midwest Bancorp had a net margin of 16.73% and a return on equity of 7.91%. During the same quarter last year, the firm earned $0.27 EPS. Equities research analysts anticipate that First Midwest Bancorp will post $1.34 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 11th. Investors of record on Friday, June 30th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.72%. This is an increase from First Midwest Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Wednesday, June 28th. First Midwest Bancorp’s dividend payout ratio (DPR) is currently 35.09%.

WARNING: This article was published by American Banking News and is the property of of American Banking News. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States & international copyright legislation. The original version of this article can be read at https://www.americanbankingnews.com/2017/06/30/first-midwest-bancorp-inc-fmbi-stock-rating-upgraded-by-bidaskclub.html.

In other news, Director Thomas Lynn Brown purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were acquired at an average cost of $24.06 per share, for a total transaction of $72,180.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $72,180. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.48% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of First Midwest Bancorp by 13.6% in the first quarter. Victory Capital Management Inc. now owns 6,683 shares of the financial services provider’s stock valued at $158,000 after buying an additional 801 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of First Midwest Bancorp during the first quarter valued at approximately $177,000. Envestnet Asset Management Inc. increased its stake in shares of First Midwest Bancorp by 1.6% in the first quarter. Envestnet Asset Management Inc. now owns 8,560 shares of the financial services provider’s stock valued at $203,000 after buying an additional 136 shares during the period. State of Alaska Department of Revenue increased its stake in shares of First Midwest Bancorp by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 8,950 shares of the financial services provider’s stock valued at $211,000 after buying an additional 150 shares during the period. Finally, IFP Advisors Inc increased its stake in shares of First Midwest Bancorp by 0.3% in the first quarter. IFP Advisors Inc now owns 9,012 shares of the financial services provider’s stock valued at $213,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 73.66% of the company’s stock.

First Midwest Bancorp Company 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.

Analyst Recommendations for First Midwest Bancorp (NASDAQ:FMBI)

Receive News & Ratings for First Midwest Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Midwest Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.