Endeavour Capital Advisors Inc. trimmed its position in First Midwest Bancorp Inc (NASDAQ:FMBI) by 13.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 951,148 shares of the financial services provider’s stock after selling 143,985 shares during the quarter. First Midwest Bancorp makes up 9.3% of Endeavour Capital Advisors Inc.’s holdings, making the stock its 2nd largest position. Endeavour Capital Advisors Inc. owned about 0.93% of First Midwest Bancorp worth $22,837,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Pinebridge Investments L.P. raised its holdings in shares of First Midwest Bancorp by 4.3% in the 3rd quarter. Pinebridge Investments L.P. now owns 56,412 shares of the financial services provider’s stock valued at $1,321,000 after purchasing an additional 2,341 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of First Midwest Bancorp by 6.3% in the 4th quarter. Louisiana State Employees Retirement System now owns 44,200 shares of the financial services provider’s stock valued at $1,061,000 after purchasing an additional 2,600 shares during the period. Victory Capital Management Inc. raised its holdings in First Midwest Bancorp by 38.8% in the 3rd quarter. Victory Capital Management Inc. now owns 10,915 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 3,053 shares during the period. Guggenheim Capital LLC raised its holdings in First Midwest Bancorp by 17.7% in the 4th quarter. Guggenheim Capital LLC now owns 22,119 shares of the financial services provider’s stock valued at $532,000 after acquiring an additional 3,334 shares during the period. Finally, Zions Bancorporation bought a new position in First Midwest Bancorp in the 3rd quarter valued at about $112,000. 83.70% of the stock is currently owned by institutional investors.
In other First Midwest Bancorp news, Director Robert P. Omeara sold 50,000 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $24.56, for a total transaction of $1,228,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael L. Scudder sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $26.15, for a total transaction of $130,750.00. Following the transaction, the chief executive officer now owns 81,720 shares in the company, valued at approximately $2,136,978. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,628 shares of company stock worth $3,121,734. Company insiders own 1.69% of the company’s stock.
First Midwest Bancorp Inc (NASDAQ FMBI) opened at $26.41 on Monday. The firm has a market cap of $2,720.43, a PE ratio of 18.86, a price-to-earnings-growth ratio of 2.18 and a beta of 1.16. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. First Midwest Bancorp Inc has a fifty-two week low of $20.50 and a fifty-two week high of $26.48.
First Midwest Bancorp (NASDAQ:FMBI) last released its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.34 earnings per share 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 company had revenue of $154.24 million during the quarter, compared to the consensus estimate of $162.84 million. During the same period in the prior year, the company earned $0.32 earnings per share. equities research analysts anticipate that First Midwest Bancorp Inc will post 1.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Friday, March 23rd will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Thursday, March 22nd. This is a positive change from First Midwest Bancorp’s previous quarterly dividend of $0.10. First Midwest Bancorp’s dividend payout ratio is presently 41.67%.
First Midwest Bancorp Profile
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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