First Midwest Bancorp’s (FMBI) “Buy” Rating Reaffirmed at Jefferies Group
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.
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.
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