First Midwest Bancorp, Inc. (FMBI) Scheduled to Post Earnings on Tuesday
First Midwest Bancorp, Inc. (NASDAQ:FMBI) is scheduled to release its earnings data after the market closes on Tuesday, October 24th. Analysts expect First Midwest Bancorp to post earnings of $0.36 per share for the quarter.
First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). First Midwest Bancorp had a net margin of 17.30% and a return on equity of 7.81%. The business had revenue of $162.53 million during the quarter, compared to analyst estimates of $164.02 million. During the same quarter in the prior year, the company posted $0.32 EPS. On average, analysts expect First Midwest Bancorp to post $1.43 EPS for the current fiscal year and $1.59 EPS for the next fiscal year.
First Midwest Bancorp, Inc. (NASDAQ FMBI) opened at 23.50 on Tuesday. First Midwest Bancorp, Inc. has a 52 week low of $18.75 and a 52 week high of $25.83. The firm has a market cap of $2.41 billion, a PE ratio of 20.15 and a beta of 1.15. The stock has a 50 day moving average of $22.39 and a 200-day moving average of $22.67.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Thursday, September 28th. First Midwest Bancorp’s dividend payout ratio is currently 34.19%.
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A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded First Midwest Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. BidaskClub downgraded First Midwest Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. FIG Partners downgraded First Midwest Bancorp from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $26.00 to $25.00 in a report on Thursday, July 27th. Jefferies Group LLC reissued a “buy” rating and set a $27.00 target price on shares of First Midwest Bancorp in a report on Friday, August 11th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $26.00 target price on shares of First Midwest Bancorp in a report on Wednesday, October 4th. Two 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 stock has a consensus rating of “Hold” and a consensus target price of $26.17.
In related news, Director Patrick J. Mcdonnell sold 3,500 shares of the business’s stock in a transaction dated 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 owns 24,237 shares of the company’s stock, valued at $529,578.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.69% of the stock is owned by insiders.
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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