First Midwest Bancorp (NASDAQ:FMBI) Issues Earnings Results


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First Midwest Bancorp (NASDAQ:FMBI) posted its quarterly earnings results on Monday. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37, Briefing.com reports. First Midwest Bancorp had a return on equity of 6.02% and a net margin of 14.29%. During the same quarter in the previous year, the business posted $0.22 EPS.

Shares of FMBI stock traded up $0.27 during trading hours on Wednesday, hitting $21.14. 568,008 shares of the company were exchanged, compared to its average volume of 809,680. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 20.73 and a beta of 1.27. The firm has a fifty day simple moving average of $22.15 and a 200 day simple moving average of $17.16. First Midwest Bancorp has a 52-week low of $10.31 and a 52-week high of $24.28.

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 13th. Stockholders of record on Friday, March 26th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Thursday, March 25th. First Midwest Bancorp’s dividend payout ratio is currently 28.28%.

FMBI has been the topic of several research analyst reports. Stephens reissued an “equal weight” rating and set a $22.00 target price on shares of First Midwest Bancorp in a research note on Wednesday. Raymond James upped their price objective on shares of First Midwest Bancorp from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Monday, March 15th. Finally, Zacks Investment Research upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Friday, March 5th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. First Midwest Bancorp currently has an average rating of “Buy” and a consensus price target of $18.25.

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 needs; 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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Earnings History for First Midwest Bancorp (NASDAQ:FMBI)

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