Shares of First Midwest Bancorp Inc (NASDAQ:FMBI) have been assigned an average recommendation of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $26.67.
FMBI has been the subject of several research reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $23.00 price target on shares of First Midwest Bancorp in a research report on Thursday, October 26th. BidaskClub lowered shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, January 30th. Jefferies Group reiterated a “buy” rating and set a $28.00 price objective on shares of First Midwest Bancorp in a research note on Friday, December 8th. Zacks Investment Research upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Friday, January 12th. Finally, Sandler O’Neill set a $26.00 price objective on First Midwest Bancorp and gave the company a “hold” rating in a research note on Wednesday, January 3rd.
In related news, Director Robert P. Omeara sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $24.56, for a total transaction of $1,228,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.69% of the company’s stock.
First Midwest Bancorp (NASDAQ FMBI) traded up $0.17 during midday trading on Tuesday, hitting $24.26. 511,917 shares of the stock traded hands, compared to its average volume of 679,326. First Midwest Bancorp has a 12-month low of $20.50 and a 12-month high of $26.48. The stock has a market cap of $2,596.69, a price-to-earnings ratio of 25.00, a P/E/G ratio of 2.09 and a beta of 1.18. The company has a quick ratio of 0.98, a current ratio of 0.97 and a debt-to-equity ratio of 0.49.
First Midwest Bancorp (NASDAQ:FMBI) last released its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). First Midwest Bancorp had a net margin of 14.59% and a return on equity of 7.69%. The business had revenue of $154.24 million for the quarter, compared to analysts’ expectations of $162.84 million. During the same period in the previous year, the company earned $0.32 EPS. analysts forecast that First Midwest Bancorp will post 1.73 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 9th. Investors of record on Friday, December 22nd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, December 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.65%. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 41.67%.
TRADEMARK VIOLATION WARNING: “First Midwest Bancorp Inc (FMBI) Receives Consensus Recommendation of “Buy” from Brokerages” was reported by American Banking News and is owned by of American Banking News. If you are reading this article on another domain, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this article can be read at https://www.americanbankingnews.com/2018/02/06/first-midwest-bancorp-inc-fmbi-receives-consensus-recommendation-of-buy-from-brokerages.html.
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.
Receive News & Ratings for First Midwest Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Midwest Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.