First Midwest Bancorp Inc (NASDAQ:FMBI) Chairman Michael L. Scudder sold 8,554 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $26.26, for a total value of $224,628.04. Following the completion of the sale, the chairman now directly owns 81,720 shares in the company, valued at approximately $2,145,967.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of First Midwest Bancorp Inc (NASDAQ:FMBI) opened at $25.92 on Thursday. The stock has a market capitalization of $2,715.28, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 2.18 and a beta of 1.16. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. First Midwest Bancorp Inc has a fifty-two week low of $20.50 and a fifty-two week high of $26.55.
First Midwest Bancorp (NASDAQ:FMBI) last released its earnings results on Monday, January 29th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). First Midwest Bancorp had a net margin of 14.59% and a return on equity of 7.69%. The business had revenue of $154.24 million during the quarter, compared to analyst estimates of $162.84 million. During the same period last year, the business earned $0.32 EPS. equities research analysts forecast that First Midwest Bancorp Inc will post 1.73 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the company. Zions Bancorporation acquired a new stake in shares of First Midwest Bancorp during the 3rd quarter worth approximately $112,000. Quantbot Technologies LP acquired a new stake in shares of First Midwest Bancorp during the 3rd quarter worth approximately $118,000. CIBC Asset Management Inc acquired a new stake in shares of First Midwest Bancorp during the 3rd quarter worth approximately $201,000. Victory Capital Management Inc. grew its holdings in shares of First Midwest Bancorp by 38.8% during the 3rd quarter. Victory Capital Management Inc. now owns 10,915 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 3,053 shares in the last quarter. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of First Midwest Bancorp during the 4th quarter worth approximately $289,000. 83.70% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on FMBI shares. BidaskClub raised First Midwest Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, January 16th. Sandler O’Neill set a $26.00 target price on First Midwest Bancorp and gave the company a “hold” rating in a report on Wednesday, January 3rd. Zacks Investment Research raised First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Friday, January 12th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $29.00 target price on shares of First Midwest Bancorp in a report on Tuesday, January 9th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $28.00 target price on shares of First Midwest Bancorp in a report on Friday, December 8th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $26.67.
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First Midwest Bancorp Company Profile
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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