First Midwest Bancorp, Inc. (NASDAQ:FMBI) – Jefferies Group reduced their Q2 2018 earnings per share estimates for shares of First Midwest Bancorp in a note issued to investors on Tuesday. Jefferies Group analyst C. Haire now anticipates that the financial services provider will earn $0.38 per share for the quarter, down from their prior estimate of $0.39. Jefferies Group has a “Buy” rating and a $27.00 price target on the stock. Jefferies Group also issued estimates for First Midwest Bancorp’s FY2019 earnings at $1.67 EPS.

Several other research analysts have also commented on the company. Zacks Investment Research upgraded First Midwest Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub upgraded First Midwest Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Piper Jaffray Companies upgraded First Midwest Bancorp from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $25.00 to $26.00 in a research report on Monday, July 24th. ValuEngine lowered First Midwest Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, FIG Partners lowered First Midwest Bancorp from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $26.00 to $25.00 in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. First Midwest Bancorp currently has a consensus rating of “Hold” and a consensus target price of $26.17.

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Shares of First Midwest Bancorp (FMBI) traded down 0.30% during midday trading on Wednesday, hitting $23.48. The company’s stock had a trading volume of 76,929 shares. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 20.07 and a beta of 1.16. First Midwest Bancorp has a 12-month low of $18.75 and a 12-month high of $25.83. The firm has a 50-day moving average of $22.16 and a 200 day moving average of $22.66.

First Midwest Bancorp (NASDAQ:FMBI) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $164.02 million. During the same quarter in the prior year, the company posted $0.32 earnings per share.

Large investors have recently added to or reduced their stakes in the stock. Highbridge Capital Management LLC boosted its holdings 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 purchasing an additional 174,825 shares during the period. Bank of New York Mellon Corp boosted its holdings in First Midwest Bancorp by 18.1% in the second quarter. Bank of New York Mellon Corp now owns 2,483,563 shares of the financial services provider’s stock valued at $57,890,000 after purchasing an additional 380,112 shares during the period. Citadel Advisors LLC purchased a new position in First Midwest Bancorp in the first quarter valued at $7,621,000. Cipher Capital LP boosted its holdings in First Midwest Bancorp by 153.6% in the second quarter. Cipher Capital LP now owns 83,134 shares of the financial services provider’s stock valued at $1,938,000 after purchasing an additional 50,358 shares during the period. Finally, Bank of America Corp DE boosted its holdings in First Midwest Bancorp by 146.9% in the first quarter. Bank of America Corp DE now owns 861,479 shares of the financial services provider’s stock valued at $20,400,000 after purchasing an additional 512,609 shares during the period. Hedge funds and other institutional investors own 80.94% of the company’s stock.

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

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 29th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.70%. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 34.19%.

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 and Estimates for First Midwest Bancorp (NASDAQ:FMBI)

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