Hennessy Advisors Inc. grew its position in shares of First Midwest Bancorp Inc (NASDAQ:FMBI) by 21.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 200,000 shares of the financial services provider’s stock after acquiring an additional 35,000 shares during the quarter. Hennessy Advisors Inc. owned about 0.18% of First Midwest Bancorp worth $4,612,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in FMBI. NumerixS Investment Technologies Inc grew its stake in shares of First Midwest Bancorp by 47.3% in the second quarter. NumerixS Investment Technologies Inc now owns 2,725 shares of the financial services provider’s stock valued at $56,000 after buying an additional 875 shares in the last quarter. AdvisorNet Financial Inc grew its stake in shares of First Midwest Bancorp by 100.0% in the third quarter. AdvisorNet Financial Inc now owns 3,066 shares of the financial services provider’s stock valued at $60,000 after buying an additional 1,533 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of First Midwest Bancorp by 17.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,002 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,026 shares in the last quarter. Optimum Investment Advisors grew its stake in shares of First Midwest Bancorp by 100.0% in the third quarter. Optimum Investment Advisors now owns 7,800 shares of the financial services provider’s stock valued at $152,000 after buying an additional 3,900 shares in the last quarter. Finally, Atria Investments LLC acquired a new stake in shares of First Midwest Bancorp in the second quarter valued at about $205,000. Institutional investors own 82.31% of the company’s stock.
A number of research firms have recently issued reports on FMBI. BidaskClub lowered First Midwest Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research lowered First Midwest Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, January 6th. ValuEngine upgraded First Midwest Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Stephens upgraded First Midwest Bancorp from an “equal” rating to an “overweight” rating and increased their target price for the company from $21.00 to $23.00 in a research note on Tuesday, October 8th. One 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 currently has an average rating of “Hold” and a consensus target price of $23.67.
Shares of FMBI opened at $22.48 on Wednesday. The company has a market capitalization of $2.47 billion, a P/E ratio of 13.46 and a beta of 1.29. First Midwest Bancorp Inc has a one year low of $18.29 and a one year high of $23.68. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a 50-day moving average price of $22.58 and a 200 day moving average price of $20.76.
First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $193.74 million during the quarter, compared to the consensus estimate of $191.95 million. First Midwest Bancorp had a return on equity of 9.51% and a net margin of 22.55%. During the same quarter in the prior year, the business posted $0.46 earnings per share. As a group, equities research analysts forecast that First Midwest Bancorp Inc will post 1.98 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Friday, December 20th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Thursday, December 19th. First Midwest Bancorp’s dividend payout ratio is currently 33.53%.
About First Midwest Bancorp
First Midwest Bancorp, Inc operates as the bank holding company for First Midwest Bank that provides various banking products and services. The company accepts checking, NOW, money market, and savings accounts, as well as various types of short-term and long-term certificates of deposit. Its loan products include working capital loans; accounts receivable financing; inventory and equipment financing; sector-based lending, including healthcare, asset-based lending, structured finance, and syndications; agricultural loans; and mortgages, home equity lines and loans, personal loans, specialty loans, and consumer secured loans, as well as funding for the construction, purchase, refinance, or improvement of commercial real estate properties.
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