Equities research analysts expect First Midwest Bancorp, Inc. (NASDAQ:FMBI) to announce sales of $164.90 million for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for First Midwest Bancorp’s earnings, with estimates ranging from $161.50 million to $167.60 million. First Midwest Bancorp reported sales of $136.83 million during the same quarter last year, which indicates a positive year over year growth rate of 20.5%. The firm is expected to report its next quarterly earnings results on Tuesday, October 17th.

According to Zacks, analysts expect that First Midwest Bancorp will report full-year sales of $164.90 million for the current financial year, with estimates ranging from $643.20 million to $659.40 million. For the next year, analysts expect that the business will post sales of $697.06 million per share, with estimates ranging from $681.55 million to $720.60 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow First Midwest Bancorp.

First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $162.53 million for the quarter, compared to analyst estimates of $164.02 million. First Midwest Bancorp had a return on equity of 7.81% and a net margin of 17.30%. During the same quarter in the previous year, the business earned $0.32 earnings per share.

Several research analysts have weighed in on the stock. Jefferies Group LLC restated a “buy” rating and set a $27.00 price objective on shares of First Midwest Bancorp in a report on Sunday, June 11th. BidaskClub upgraded shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Zacks Investment Research upgraded shares of First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Friday, July 7th. Piper Jaffray Companies upgraded shares of First Midwest Bancorp from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $25.00 to $26.00 in a research note on Monday, July 24th. Finally, FIG Partners lowered shares of First Midwest Bancorp from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $26.00 to $25.00 in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.17.

First Midwest Bancorp (NASDAQ FMBI) opened at 21.31 on Thursday. First Midwest Bancorp has a 52-week low of $18.65 and a 52-week high of $25.83. The company has a market cap of $2.19 billion, a P/E ratio of 18.28 and a beta of 1.14. The company has a 50-day moving average of $22.74 and a 200-day moving average of $23.28.

In other news, Director Thomas Lynn Brown bought 3,000 shares of First Midwest Bancorp stock in a transaction dated Tuesday, June 13th. The stock was purchased at an average price of $24.06 per share, for a total transaction of $72,180.00. Following the purchase, the director now directly owns 3,000 shares in the company, valued at approximately $72,180. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.69% of the company’s stock.

Several hedge funds have recently bought and sold shares of FMBI. Fox Run Management L.L.C. purchased a new stake in First Midwest Bancorp during the first quarter valued at about $230,000. Louisiana State Employees Retirement System raised its stake in First Midwest Bancorp by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 33,000 shares of the financial services provider’s stock valued at $781,000 after buying an additional 300 shares during the last quarter. Quantitative Systematic Strategies LLC raised its stake in First Midwest Bancorp by 30.1% in the first quarter. Quantitative Systematic Strategies LLC now owns 31,649 shares of the financial services provider’s stock valued at $749,000 after buying an additional 7,325 shares during the last quarter. Rothschild Investment Corp IL raised its stake in First Midwest Bancorp by 551.2% in the first quarter. Rothschild Investment Corp IL now owns 87,916 shares of the financial services provider’s stock valued at $2,082,000 after buying an additional 74,416 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in 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 last quarter. Hedge funds and other institutional investors own 80.26% of the company’s stock.

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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.

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Earnings History and Estimates for First Midwest Bancorp (NASDAQ:FMBI)

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