First Midwest Bancorp, Inc. (NASDAQ:FMBI) – Equities research analysts at DA Davidson issued their FY2017 earnings estimates for shares of First Midwest Bancorp in a research report issued on Tuesday. DA Davidson analyst K. Reevey anticipates that the financial services provider will post earnings of $1.47 per share for the year.

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

TRADEMARK VIOLATION WARNING: This piece was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece on another site, it was illegally copied and reposted in violation of international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/10/06/fy2017-earnings-estimate-for-first-midwest-bancorp-inc-issued-by-da-davidson-fmbi.html.

A number of other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of First Midwest Bancorp from a “hold” rating to a “sell” rating in a report on Thursday. Piper Jaffray Companies restated a “buy” rating and set a $26.00 price objective on shares of First Midwest Bancorp in a report on Wednesday. ValuEngine upgraded shares of First Midwest Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Jefferies Group LLC restated a “buy” rating and set a $27.00 price objective on shares of First Midwest Bancorp in a report on Friday, August 11th. Finally, BidaskClub lowered shares of First Midwest Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $26.17.

First Midwest Bancorp (FMBI) opened at 23.30 on Friday. First Midwest Bancorp has a 52-week low of $18.75 and a 52-week high of $25.83. The stock has a market capitalization of $2.39 billion, a PE ratio of 19.98 and a beta of 1.16. The firm’s 50-day moving average is $21.94 and its 200 day moving average is $22.67.

Large investors have recently modified their holdings of the stock. Highbridge Capital Management LLC raised its holdings in shares of First Midwest Bancorp by 231.2% during the first quarter. Highbridge Capital Management LLC now owns 250,444 shares of the financial services provider’s stock worth $5,931,000 after acquiring an additional 174,825 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of First Midwest Bancorp by 18.1% during the second quarter. Bank of New York Mellon Corp now owns 2,483,563 shares of the financial services provider’s stock worth $57,890,000 after acquiring an additional 380,112 shares during the period. Citadel Advisors LLC acquired a new stake in shares of First Midwest Bancorp during the first quarter worth $7,621,000. Cipher Capital LP raised its holdings in shares of First Midwest Bancorp by 153.6% during the second quarter. Cipher Capital LP now owns 83,134 shares of the financial services provider’s stock worth $1,938,000 after acquiring an additional 50,358 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of First Midwest Bancorp by 146.9% during the first quarter. Bank of America Corp DE now owns 861,479 shares of the financial services provider’s stock worth $20,400,000 after acquiring an additional 512,609 shares during the period. Institutional investors and hedge funds own 80.94% of the company’s stock.

In related news, Director Patrick J. Mcdonnell sold 3,500 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $21.85, for a total transaction of $76,475.00. Following the sale, the director now directly owns 24,237 shares in the company, valued at $529,578.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.69% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.72%. First Midwest Bancorp’s payout ratio is 34.19%.

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.

Earnings History and Estimates 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.