First Midwest Bancorp (NASDAQ:FMBI) has been given a $26.00 price target by equities research analysts at Sandler O’Neill in a note issued to investors on Wednesday. The brokerage currently has a “hold” rating on the financial services provider’s stock. Sandler O’Neill’s target price would indicate a potential upside of 8.70% from the company’s current price.
Other equities research analysts also recently issued research reports about the stock. Jefferies Group reaffirmed a “buy” rating and set a $28.00 price objective on shares of First Midwest Bancorp in a research report on Friday, December 8th. ValuEngine raised shares of First Midwest Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Piper Jaffray Companies restated a “buy” rating and issued a $26.00 target price on shares of First Midwest Bancorp in a research report on Wednesday, October 4th. Zacks Investment Research upgraded shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued 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, four have given a hold rating and three have given a buy rating to the stock. First Midwest Bancorp presently has an average rating of “Hold” and a consensus price target of $25.67.
Shares of First Midwest Bancorp (NASDAQ:FMBI) traded down $0.03 during trading hours on Wednesday, hitting $23.92. 435,278 shares of the company were exchanged, compared to its average volume of 581,500. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. First Midwest Bancorp has a twelve month low of $20.50 and a twelve month high of $25.86. The company has a market cap of $2,460.00, a P/E ratio of 20.10, a PEG ratio of 2.18 and a beta of 1.17.
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 for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. First Midwest Bancorp had a net margin of 18.08% and a return on equity of 7.89%. The business had revenue of $163.24 million during the quarter, compared to the consensus estimate of $164.81 million. During the same quarter in the prior year, the firm earned $0.32 EPS. analysts expect that First Midwest Bancorp will post 1.41 earnings per share for the current fiscal year.
In other First Midwest Bancorp news, Director Robert P. Omeara sold 50,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $24.56, for a total value of $1,228,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.69% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Piedmont Investment Advisors LLC grew its position in First Midwest Bancorp by 27.5% in the 3rd quarter. Piedmont Investment Advisors LLC now owns 22,379 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 4,827 shares during the last quarter. California Public Employees Retirement System grew its position in First Midwest Bancorp by 2.5% in the 3rd quarter. California Public Employees Retirement System now owns 211,151 shares of the financial services provider’s stock worth $4,945,000 after purchasing an additional 5,151 shares during the last quarter. Highbridge Capital Management LLC boosted its holdings in shares of First Midwest Bancorp by 98.0% in the third quarter. Highbridge Capital Management LLC now owns 396,000 shares of the financial services provider’s stock valued at $9,274,000 after acquiring an additional 196,000 shares in the last quarter. Zions Bancorporation bought a new position in shares of First Midwest Bancorp in the third quarter valued at approximately $112,000. Finally, Jane Street Group LLC bought a new position in shares of First Midwest Bancorp in the third quarter valued at approximately $557,000. Hedge funds and other institutional investors own 81.33% 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.