First Midwest Bancorp, Inc. (NASDAQ:FMBI) – SunTrust Banks dropped their Q2 2018 earnings per share estimates for First Midwest Bancorp in a note issued to investors on Sunday. SunTrust Banks analyst M. Young now anticipates that the financial services provider will post earnings per share of $0.37 for the quarter, down from their prior estimate of $0.38. SunTrust Banks also issued estimates for First Midwest Bancorp’s Q4 2018 earnings at $0.42 EPS, FY2018 earnings at $1.55 EPS and FY2019 earnings at $1.75 EPS.

First Midwest Bancorp (NASDAQ:FMBI) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. First Midwest Bancorp had a return on equity of 7.89% and a net margin of 18.08%. The firm had revenue of $163.24 million during the quarter, compared to analysts’ expectations of $164.81 million. During the same period in the prior year, the business earned $0.32 EPS.

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FMBI has been the topic of several other reports. ValuEngine raised First Midwest Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Piper Jaffray Companies raised First Midwest Bancorp from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $25.00 to $26.00 in a report on Monday, July 24th. Zacks Investment Research raised First Midwest Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub cut First Midwest Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $27.00 target price on shares of First Midwest Bancorp in a report on Friday, August 11th. 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. First Midwest Bancorp presently has an average rating of “Hold” and an average target price of $25.83.

First Midwest Bancorp (FMBI) traded up 1.09% during trading on Tuesday, hitting $23.10. The stock had a trading volume of 144,054 shares. First Midwest Bancorp has a 52-week low of $18.75 and a 52-week high of $25.83. The company has a 50-day moving average of $23.01 and a 200 day moving average of $22.69. The firm has a market cap of $2.37 billion, a P/E ratio of 19.81 and a beta of 1.15.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.40 annualized dividend and a yield of 1.75%. First Midwest Bancorp’s payout ratio is currently 33.61%.

In other First Midwest Bancorp news, Director Patrick J. Mcdonnell sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was 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 of the company’s stock, valued at $529,578.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.69% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Pacad Investment Ltd. increased its stake in First Midwest Bancorp by 41.9% during the second quarter. Pacad Investment Ltd. now owns 4,400 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 1,300 shares during the last quarter. Riverhead Capital Management LLC increased its stake in First Midwest Bancorp by 40.9% during the second quarter. Riverhead Capital Management LLC now owns 6,200 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 1,800 shares during the last quarter. Victory Capital Management Inc. increased its stake in First Midwest Bancorp by 13.6% during the first quarter. Victory Capital Management Inc. now owns 6,683 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 801 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in First Midwest Bancorp during the second quarter worth approximately $213,000. Finally, MPS Loria Financial Planners LLC bought a new stake in First Midwest Bancorp during the second quarter worth approximately $235,000. 80.84% of the stock is currently owned by institutional investors.

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)

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