First Midwest Bancorp, Inc. (NASDAQ:FMBI) has earned a consensus rating of “Buy” from the six analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $26.50.

FMBI has been the subject of several research reports. FIG Partners upgraded shares of First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a report on Friday, May 19th. Zacks Investment Research downgraded shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Friday, April 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $25.00 target price on shares of First Midwest Bancorp in a report on Wednesday, April 12th. BidaskClub upgraded shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $27.00 target price on shares of First Midwest Bancorp in a report on Wednesday, April 5th.

In other First Midwest Bancorp news, Director Thomas Lynn Brown purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was bought at an average price of $24.06 per share, with a total value 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.48% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its position 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 in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of First Midwest Bancorp during the first quarter valued at approximately $177,000. Envestnet Asset Management Inc. boosted its position 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 in the last quarter. State of Alaska Department of Revenue boosted its position 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 in the last quarter. Finally, IFP Advisors Inc boosted its position 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 in the last quarter. 73.71% of the stock is owned by institutional investors.

Shares of First Midwest Bancorp (FMBI) traded down 1.16% during mid-day trading on Friday, hitting $23.04. The company had a trading volume of 1,079,982 shares. The firm has a 50-day moving average price of $23.32 and a 200 day moving average price of $23.63. First Midwest Bancorp has a 52-week low of $18.34 and a 52-week high of $25.83. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 20.46 and a beta of 1.16.

First Midwest Bancorp (NASDAQ:FMBI) last posted its earnings results on Tuesday, April 25th. The financial services provider reported $0.34 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.34. First Midwest Bancorp had a net margin of 16.73% and a return on equity of 7.91%. The firm had revenue of $155.15 million during the quarter, compared to the consensus estimate of $162 million. During the same quarter last year, the firm earned $0.27 EPS. Analysts expect that First Midwest Bancorp will post $1.34 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 11th. Shareholders of record on Friday, June 30th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Wednesday, June 28th. This is a boost from First Midwest Bancorp’s previous quarterly dividend of $0.09. First Midwest Bancorp’s dividend payout ratio (DPR) is currently 35.09%.

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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.

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