First Midwest Bancorp (NASDAQ:FMBI)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Group in a report released on Friday. They currently have a $28.00 price target on the financial services provider’s stock. Jefferies Group’s price objective would suggest a potential upside of 13.68% from the stock’s previous close.

Several other analysts have also recently issued reports on FMBI. Zacks Investment Research cut First Midwest Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. ValuEngine cut First Midwest Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $26.00 target price on shares of First Midwest Bancorp in a research report on Wednesday, October 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $23.00 target price on shares of First Midwest Bancorp in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $26.00.

First Midwest Bancorp (NASDAQ:FMBI) opened at $24.63 on Friday. First Midwest Bancorp has a 52 week low of $20.50 and a 52 week high of $25.86. The company has a market capitalization of $2,527.13, a P/E ratio of 17.83, a PEG ratio of 2.49 and a beta of 1.17. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 0.98.

First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $163.24 million for the quarter, compared to analysts’ expectations of $164.81 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. sell-side analysts forecast that First Midwest Bancorp will post 1.41 EPS for the current year.

In other First Midwest Bancorp news, Director Patrick J. Mcdonnell sold 3,500 shares of First Midwest Bancorp 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 completion of the transaction, the director now owns 24,237 shares in the company, valued at approximately $529,578.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.69% of the company’s stock.

Several large investors have recently bought and sold shares of FMBI. Pacad Investment Ltd. grew its position in shares of First Midwest Bancorp by 41.9% during the 2nd quarter. Pacad Investment Ltd. now owns 4,400 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 1,300 shares during the period. Zions Bancorporation acquired a new stake in First Midwest Bancorp in the 3rd quarter worth about $112,000. Quantbot Technologies LP acquired a new stake in First Midwest Bancorp in the 3rd quarter worth about $118,000. Riverhead Capital Management LLC boosted its holdings in First Midwest Bancorp by 40.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,200 shares of the financial services provider’s stock worth $145,000 after buying an additional 1,800 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in First Midwest Bancorp by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 7,862 shares of the financial services provider’s stock worth $183,000 after buying an additional 1,179 shares during the last quarter. Hedge funds and other institutional investors own 81.42% of the company’s stock.

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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.

Analyst Recommendations for First Midwest Bancorp (NASDAQ:FMBI)

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