First Midwest Bancorp, Inc. (NASDAQ:FMBI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “FIRST MIDWEST BANCORP, INC. is a multi-bank holding company engaged in commercial banking, trust, investment management, insurance, mortgage origination and servicing activities. “

A number of other research analysts have also recently issued reports on the company. Jefferies Group LLC reissued a “buy” rating and issued a $27.00 target price on shares of First Midwest Bancorp in a research note on Friday, August 11th. Piper Jaffray Companies reissued a “buy” rating and issued a $26.00 target price on shares of First Midwest Bancorp in a research note on Wednesday, October 4th. ValuEngine raised First Midwest Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $23.00 target price on shares of First Midwest Bancorp in a research note on Thursday, October 26th. Finally, FIG Partners cut First Midwest Bancorp from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $26.00 to $25.00 in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.83.

First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.37 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 business had revenue of $163.24 million during the quarter, compared to analysts’ expectations of $164.81 million. During the same period in the previous year, the firm earned $0.32 earnings per share.

TRADEMARK VIOLATION WARNING: This report was first published by American Banking News and is owned by of American Banking News. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States and international trademark and copyright laws. The legal version of this report can be read at https://www.americanbankingnews.com/2017/11/01/first-midwest-bancorp-inc-fmbi-rating-increased-to-hold-at-zacks-investment-research.html.

In related news, Director Patrick J. Mcdonnell sold 3,500 shares of the company’s stock in a transaction dated 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 owns 24,237 shares in the company, valued at $529,578.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.69% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FMBI. BlackRock Inc. raised its holdings in First Midwest Bancorp by 49,897.9% during the first quarter. BlackRock Inc. now owns 10,336,571 shares of the financial services provider’s stock worth $244,770,000 after acquiring an additional 10,315,897 shares in the last quarter. Vanguard Group Inc. raised its holdings in First Midwest Bancorp by 15.1% during the first quarter. Vanguard Group Inc. now owns 7,920,350 shares of the financial services provider’s stock worth $187,554,000 after acquiring an additional 1,037,514 shares in the last quarter. State Street Corp raised its holdings in First Midwest Bancorp by 27.7% during the first quarter. State Street Corp now owns 3,000,830 shares of the financial services provider’s stock worth $71,057,000 after acquiring an additional 650,722 shares in the last quarter. Bank of America Corp DE raised its holdings in 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 in the last quarter. Finally, Northern Trust Corp raised its holdings in First Midwest Bancorp by 20.1% during the second quarter. Northern Trust Corp now owns 2,673,098 shares of the financial services provider’s stock worth $62,310,000 after acquiring an additional 446,786 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.

Get a free copy of the Zacks research report on First Midwest Bancorp (FMBI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations 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.