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.
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.
