First Midwest Bancorp (NASDAQ:FMBI) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, April 23rd. Analysts expect First Midwest Bancorp to post earnings of $0.45 per share for the quarter.
First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings results on Tuesday, January 22nd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.01). First Midwest Bancorp had a return on equity of 8.88% and a net margin of 21.67%. The company had revenue of $175.09 million for the quarter, compared to the consensus estimate of $173.47 million. During the same quarter last year, the company posted $0.34 EPS. On average, analysts expect First Midwest Bancorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Shares of First Midwest Bancorp stock opened at $21.05 on Tuesday. First Midwest Bancorp has a 12-month low of $18.10 and a 12-month high of $27.70. The firm has a market cap of $2.33 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.54 and a beta of 1.25. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.54.
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Friday, March 22nd were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.48 annualized dividend and a yield of 2.28%. First Midwest Bancorp’s dividend payout ratio (DPR) is currently 28.74%.
Several equities research analysts recently issued reports on the company. BidaskClub upgraded First Midwest Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 20th. Piper Jaffray Companies set a $26.00 price target on First Midwest Bancorp and gave the stock a “buy” rating in a report on Friday, January 25th. Raymond James downgraded First Midwest Bancorp from an “outperform” rating to a “market perform” rating in a report on Monday, January 7th. Zacks Investment Research downgraded First Midwest Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. Finally, Stephens restated a “hold” rating and issued a $24.00 price objective on shares of First Midwest Bancorp in a research note on Wednesday, December 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $26.08.
In other First Midwest Bancorp news, CEO Michael L. Scudder sold 30,000 shares of the company’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $23.31, for a total value of $699,300.00. Following the completion of the transaction, the chief executive officer now owns 97,784 shares in the company, valued at approximately $2,279,345.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn Hayley acquired 7,000 shares of First Midwest Bancorp stock in a transaction on Thursday, January 24th. The stock was acquired at an average price of $21.51 per share, with a total value of $150,570.00. The disclosure for this purchase can be found here. 1.47% of the stock is owned by corporate insiders.
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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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