First Midwest Bancorp, Inc. (NASDAQ:FMBI) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.01, Briefing.com reports. First Midwest Bancorp had a net margin of 16.73% and a return on equity of 7.91%. During the same quarter in the previous year, the business earned $0.32 earnings per share.

First Midwest Bancorp (NASDAQ:FMBI) traded down 0.80% on Wednesday, reaching $23.44. 27,803 shares of the company’s stock were exchanged. First Midwest Bancorp has a 12-month low of $18.34 and a 12-month high of $25.83. The firm has a 50 day moving average of $23.32 and a 200-day moving average of $23.63. The company has a market cap of $2.63 billion, a P/E ratio of 20.82 and a beta of 1.16.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 11th. Shareholders of record on Friday, June 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.69%. This is a positive change from First Midwest Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date was Wednesday, June 28th. First Midwest Bancorp’s dividend payout ratio (DPR) is 35.09%.

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A number of research analysts recently weighed in on FMBI shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $27.00 price target on shares of First Midwest Bancorp in a research note on Wednesday, April 5th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $25.00 price target on shares of First Midwest Bancorp in a research note on Wednesday, April 12th. Zacks Investment Research lowered shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. FIG Partners raised shares of First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a research note on Friday, May 19th. Finally, BidaskClub raised shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $26.40.

In related news, Director Thomas Lynn Brown bought 3,000 shares of the stock in a transaction on Tuesday, June 13th. The shares were purchased at an average price of $24.06 per share, with a total value of $72,180.00. Following the purchase, the director now owns 3,000 shares in the company, valued at $72,180. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.48% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Highbridge Capital Management LLC boosted its position in First Midwest Bancorp by 231.2% in the first quarter. Highbridge Capital Management LLC now owns 250,444 shares of the financial services provider’s stock valued at $5,931,000 after buying an additional 174,825 shares during the last quarter. Teachers Advisors LLC boosted its position in First Midwest Bancorp by 2.1% in the fourth quarter. Teachers Advisors LLC now owns 852,375 shares of the financial services provider’s stock valued at $21,505,000 after buying an additional 17,355 shares during the last quarter. Foundry Partners LLC boosted its position in First Midwest Bancorp by 14.9% in the first quarter. Foundry Partners LLC now owns 449,429 shares of the financial services provider’s stock valued at $10,642,000 after buying an additional 58,405 shares during the last quarter. United Services Automobile Association boosted its position in First Midwest Bancorp by 72.6% in the first quarter. United Services Automobile Association now owns 1,036,966 shares of the financial services provider’s stock valued at $24,555,000 after buying an additional 436,260 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in First Midwest Bancorp by 39.5% in the first quarter. First Trust Advisors LP now owns 264,748 shares of the financial services provider’s stock valued at $6,269,000 after buying an additional 74,958 shares during the last quarter. 73.67% of the stock is currently owned by hedge funds and other institutional investors.

About First Midwest Bancorp

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.

Earnings History for First Midwest Bancorp (NASDAQ:FMBI)

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