First Midwest Bancorp, Inc. (NASDAQ:FMBI) declared a quarterly dividend on Tuesday, February 23rd, Wall Street Journal reports. Stockholders of record on Friday, March 26th will be given a dividend of 0.14 per share by the financial services provider on Tuesday, April 13th. This represents a $0.56 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Thursday, March 25th.
First Midwest Bancorp has raised its dividend by 43.6% over the last three years and has raised its dividend every year for the last 1 years.
FMBI stock traded up $0.22 during trading on Tuesday, reaching $19.41. 623,800 shares of the company traded hands, compared to its average volume of 844,803. The business has a 50 day simple moving average of $17.74 and a 200 day simple moving average of $14.36. First Midwest Bancorp has a 12 month low of $10.31 and a 12 month high of $20.28. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 18.81 and a beta of 1.27.
In other First Midwest Bancorp news, EVP Kevin P. Geoghegan acquired 1,631 shares of the company’s stock in a transaction dated Monday, December 7th. The shares were acquired at an average cost of $15.33 per share, with a total value of $25,003.23. Following the acquisition, the executive vice president now directly owns 9,603 shares of the company’s stock, valued at $147,213.99. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Stephens downgraded First Midwest Bancorp from an “overweight” rating to an “equal weight” rating and set a $19.00 price target on the stock. in a research report on Wednesday, February 10th. Janney Montgomery Scott cut First Midwest Bancorp from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 10th. Raymond James raised their price target on First Midwest Bancorp from $15.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. TheStreet upgraded shares of First Midwest Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, December 1st. Finally, Zacks Investment Research raised shares of First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, February 10th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $16.75.
First Midwest Bancorp Company Profile
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 and unsecured loans, as well as funding for the construction, purchase, refinance, or improvement of commercial real estate properties.
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