First Midwest Bancorp, Inc. (NASDAQ:FMBI) Rating Reiterated by Jefferies Group LLC
First Midwest Bancorp, Inc. (NASDAQ:FMBI)‘s stock had its “buy” rating reaffirmed by stock analysts at Jefferies Group LLC in a report released on Friday. They presently have a $27.00 price target on the financial services provider’s stock. Jefferies Group LLC’s price objective suggests a potential upside of 28.76% from the company’s current price.
FMBI has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Friday, April 28th. Piper Jaffray Companies upgraded shares of First Midwest Bancorp from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $25.00 to $26.00 in a report on Monday, July 24th. BidaskClub downgraded shares of First Midwest Bancorp from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Finally, FIG Partners upgraded shares of First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a report on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. First Midwest Bancorp has an average rating of “Hold” and a consensus price target of $26.17.
First Midwest Bancorp (NASDAQ FMBI) traded down 1.27% on Friday, reaching $20.97. The company had a trading volume of 733,772 shares. The company’s 50-day moving average price is $22.86 and its 200 day moving average price is $23.36. First Midwest Bancorp has a 1-year low of $18.75 and a 1-year high of $25.83. The firm has a market capitalization of $2.15 billion, a P/E ratio of 17.98 and a beta of 1.14.
First Midwest Bancorp (NASDAQ:FMBI) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.01. The business had revenue of $162.53 million during the quarter, compared to analyst estimates of $164.02 million. First Midwest Bancorp had a net margin of 17.30% and a return on equity of 7.81%. During the same quarter in the previous year, the company posted $0.32 EPS. On average, equities analysts forecast that First Midwest Bancorp will post $1.30 EPS for the current year.
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In other news, Director Thomas Lynn Brown purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was acquired at an average price of $24.06 per share, for a total transaction of $72,180.00. Following the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at $72,180. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.69% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Great West Life Assurance Co. Can increased its stake in shares of First Midwest Bancorp by 6.2% in the first quarter. Great West Life Assurance Co. Can now owns 113,456 shares of the financial services provider’s stock worth $2,684,000 after buying an additional 6,651 shares in the last quarter. Geneva Advisors LLC increased its stake in shares of First Midwest Bancorp by 2.1% in the first quarter. Geneva Advisors LLC now owns 28,974 shares of the financial services provider’s stock worth $686,000 after buying an additional 596 shares in the last quarter. NJ State Employees Deferred Compensation Plan purchased a new stake in shares of First Midwest Bancorp during the first quarter worth about $545,000. 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 worth $213,000 after buying an additional 25 shares in the last quarter. Finally, Strs Ohio increased its stake in shares of First Midwest Bancorp by 0.7% in the first quarter. Strs Ohio now owns 235,200 shares of the financial services provider’s stock worth $5,569,000 after buying an additional 1,700 shares in the last quarter. Institutional investors and hedge funds own 80.31% 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.
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