News coverage about First Midwest Bancorp (NASDAQ:FMBI) has been trending somewhat positive recently, Accern Sentiment Analysis reports. The research firm identifies positive and negative press coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. First Midwest Bancorp earned a daily sentiment score of 0.22 on Accern’s scale. Accern also gave press coverage about the financial services provider an impact score of 45.6989186974441 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Here are some of the news stories that may have impacted Accern Sentiment’s analysis:
- First Midwest Bancorp Inc (FMBI) Chairman Sells $224,628.04 in Stock (americanbankingnews.com)
- Michael L. Scudder Sells 5,000 Shares of First Midwest Bancorp Inc (FMBI) Stock (americanbankingnews.com)
- Insider Selling: First Midwest Bancorp Inc (FMBI) Insider Sells 42,328 Shares of Stock (americanbankingnews.com)
- First Midwest Bancorp Inc (FMBI) Director Robert P. Omeara Sells 25,300 Shares (americanbankingnews.com)
FMBI has been the subject of several recent research reports. BidaskClub downgraded First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, January 30th. Jefferies Group reiterated a “buy” rating and set a $28.00 price target on shares of First Midwest Bancorp in a report on Friday, December 8th. Zacks Investment Research upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Friday, January 12th. Sandler O’Neill set a $26.00 price objective on First Midwest Bancorp and gave the company a “hold” rating in a research note on Wednesday, January 3rd. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $29.00 price objective on shares of First Midwest Bancorp in a research note on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $26.67.
First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The business had revenue of $154.24 million during the quarter, compared to the consensus estimate of $162.84 million. First Midwest Bancorp had a net margin of 14.59% and a return on equity of 7.69%. During the same quarter last year, the company earned $0.32 EPS. equities research analysts expect that First Midwest Bancorp will post 1.73 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Friday, March 23rd will be paid a dividend of $0.11 per share. This is an increase from First Midwest Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a $0.44 annualized dividend and a dividend yield of 1.67%. First Midwest Bancorp’s dividend payout ratio is presently 41.67%.
In related news, CEO Michael L. Scudder sold 5,000 shares of the stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $26.15, for a total transaction of $130,750.00. Following the sale, the chief executive officer now owns 81,720 shares of the company’s stock, valued at approximately $2,136,978. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Michael L. Scudder sold 8,554 shares of the stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $26.26, for a total value of $224,628.04. Following the sale, the chairman now directly owns 81,720 shares in the company, valued at approximately $2,145,967.20. The disclosure for this sale can be found here. Insiders have sold a total of 131,182 shares of company stock valued at $3,346,362 in the last quarter. 1.69% of the stock is owned by corporate insiders.
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About First Midwest Bancorp
First Midwest Bancorp, Inc is a bank holding company. The Company’s principal subsidiary, First Midwest Bank (the Bank), is an Illinois state-chartered bank and provides a range of banking, treasury and wealth management products and services, to commercial and industrial, commercial real estate, municipal and consumer customers.
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