First Midwest Bancorp Inc (NASDAQ:FMBI) Receives $25.00 Average Target Price from Analysts

First Midwest Bancorp Inc (NASDAQ:FMBI) has been assigned an average recommendation of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $25.00.

A number of equities analysts have recently issued reports on FMBI shares. Raymond James downgraded First Midwest Bancorp to a “hold” rating in a research report on Monday, July 8th. Zacks Investment Research raised First Midwest Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. BidaskClub cut First Midwest Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, FIG Partners raised First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 16th.

In other First Midwest Bancorp news, Director Arsdell Stephen C. Van bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was acquired at an average price of $20.11 per share, with a total value of $50,275.00. Following the completion of the purchase, the director now directly owns 16,500 shares of the company’s stock, valued at approximately $331,815. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FMBI. Municipal Employees Retirement System of Michigan grew its stake in First Midwest Bancorp by 1.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 31,960 shares of the financial services provider’s stock valued at $654,000 after acquiring an additional 550 shares during the period. Rockefeller Capital Management L.P. grew its stake in First Midwest Bancorp by 83.2% in the second quarter. Rockefeller Capital Management L.P. now owns 1,533 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 696 shares during the period. Oregon Public Employees Retirement Fund grew its stake in First Midwest Bancorp by 1.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 41,900 shares of the financial services provider’s stock valued at $858,000 after acquiring an additional 700 shares during the period. NumerixS Investment Technologies Inc grew its stake in 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 acquiring an additional 875 shares during the period. Finally, LPL Financial LLC grew its stake in First Midwest Bancorp by 2.7% in the second quarter. LPL Financial LLC now owns 36,039 shares of the financial services provider’s stock valued at $738,000 after acquiring an additional 947 shares during the period. 82.50% of the stock is owned by institutional investors and hedge funds.

Shares of FMBI traded down $0.05 during mid-day trading on Friday, reaching $19.02. 15,093 shares of the company were exchanged, compared to its average volume of 627,805. First Midwest Bancorp has a 52 week low of $18.10 and a 52 week high of $27.70. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $2.15 billion, a PE ratio of 11.39, a PEG ratio of 1.42 and a beta of 1.23. The stock has a 50 day simple moving average of $20.42.

First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.03. First Midwest Bancorp had a return on equity of 9.51% and a net margin of 23.58%. The company had revenue of $190.02 million during the quarter, compared to the consensus estimate of $187.13 million. During the same period last year, the company earned $0.40 earnings per share. The firm’s revenue was up 14.9% compared to the same quarter last year. Equities research analysts predict that First Midwest Bancorp will post 1.96 EPS for the current fiscal year.

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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