First Midwest Bancorp Inc (NASDAQ:FMBI) – Investment analysts at Jefferies Financial Group dropped their Q4 2018 earnings per share (EPS) estimates for First Midwest Bancorp in a research report issued to clients and investors on Tuesday, January 8th. Jefferies Financial Group analyst C. Haire now anticipates that the financial services provider will post earnings per share of $0.47 for the quarter, down from their prior estimate of $0.48. Jefferies Financial Group also issued estimates for First Midwest Bancorp’s Q3 2019 earnings at $0.53 EPS, Q4 2019 earnings at $0.53 EPS, FY2019 earnings at $2.05 EPS and FY2020 earnings at $2.15 EPS.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Friday, October 5th. BidaskClub downgraded shares of First Midwest Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. ValuEngine downgraded shares of First Midwest Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, November 15th. Piper Jaffray Companies set a $26.00 price objective on shares of First Midwest Bancorp and gave the company a “buy” rating in a research report on Friday, October 26th. Finally, Raymond James downgraded shares of First Midwest Bancorp from an “outperform” rating to a “market perform” rating in a research report on Monday, January 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $26.08.
Shares of FMBI stock opened at $21.22 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $2.24 billion, a P/E ratio of 15.72, a P/E/G ratio of 1.49 and a beta of 1.27. First Midwest Bancorp has a 1 year low of $18.10 and a 1 year high of $27.70.
First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The business had revenue of $167.69 million during the quarter, compared to analysts’ expectations of $168.87 million. First Midwest Bancorp had a return on equity of 8.22% and a net margin of 17.04%. During the same period in the previous year, the company posted $0.37 earnings per share.
Large investors have recently made changes to their positions in the company. Vestor Capital LLC increased its holdings in shares of First Midwest Bancorp by 18.6% during the third quarter. Vestor Capital LLC now owns 6,521 shares of the financial services provider’s stock worth $173,000 after buying an additional 1,021 shares in the last quarter. Stone Ridge Asset Management LLC bought a new stake in shares of First Midwest Bancorp in the third quarter worth $281,000. Paloma Partners Management Co bought a new stake in shares of First Midwest Bancorp in the third quarter worth $348,000. First Hawaiian Bank bought a new stake in shares of First Midwest Bancorp in the third quarter worth $365,000. Finally, FSI Group LLC grew its stake in shares of First Midwest Bancorp by 91.6% in the third quarter. FSI Group LLC now owns 16,115 shares of the financial services provider’s stock worth $428,000 after purchasing an additional 7,706 shares during the last quarter. Institutional investors own 80.35% of the company’s stock.
In other news, Director Frank Blaise Modruson acquired 4,444 shares of the stock in a transaction on Monday, October 29th. The stock was acquired at an average cost of $22.53 per share, for a total transaction of $100,123.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.47% of the stock is owned by insiders.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 8th. Shareholders of record on Friday, December 21st were given a dividend of $0.12 per share. This is an increase from First Midwest Bancorp’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 2.26%. The ex-dividend date was Thursday, December 20th. First Midwest Bancorp’s payout ratio is currently 35.56%.
About First Midwest Bancorp
First Midwest Bancorp, Inc operates as a 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 and lines of credit; 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 auto loans, as well as funding for the construction, purchase, refinance, or improvement of commercial real estate properties.
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