Citadel Advisors LLC Grows Holdings in First Midwest Bancorp Inc (FMBI)

Citadel Advisors LLC grew its stake in First Midwest Bancorp Inc (NASDAQ:FMBI) by 132.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 322,725 shares of the financial services provider’s stock after buying an additional 183,852 shares during the period. Citadel Advisors LLC owned approximately 0.31% of First Midwest Bancorp worth $7,748,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Zions Bancorporation purchased a new position in First Midwest Bancorp in the 3rd quarter worth approximately $112,000. Quantbot Technologies LP bought a new stake in shares of First Midwest Bancorp in the 3rd quarter worth approximately $118,000. CIBC Asset Management Inc bought a new stake in shares of First Midwest Bancorp in the 3rd quarter worth approximately $201,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of First Midwest Bancorp in the 2nd quarter worth approximately $213,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of First Midwest Bancorp by 38.8% in the 3rd quarter. Victory Capital Management Inc. now owns 10,915 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 3,053 shares during the last quarter. 83.52% of the stock is owned by institutional investors and hedge funds.

In related news, Director Robert P. Omeara sold 50,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $24.56, for a total transaction of $1,228,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.69% of the company’s stock.

Shares of First Midwest Bancorp Inc (NASDAQ FMBI) opened at $24.80 on Wednesday. The firm has a market cap of $2,588.47, a P/E ratio of 18.00, a PEG ratio of 2.08 and a beta of 1.18. The company has a quick ratio of 0.98, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. First Midwest Bancorp Inc has a 1-year low of $20.50 and a 1-year high of $26.48.

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 for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). First Midwest Bancorp had a return on equity of 7.69% and a net margin of 14.59%. The business had revenue of $154.24 million during the quarter, compared to the consensus estimate of $162.84 million. During the same quarter in the previous year, the firm posted $0.32 earnings per share. research analysts predict that First Midwest Bancorp Inc will post 1.73 earnings per share for the current year.

FMBI has been the subject of a number of recent research reports. Keefe, Bruyette & Woods restated a “hold” rating and issued a $23.00 price objective on shares of First Midwest Bancorp in a report on Thursday, October 26th. Zacks Investment Research upgraded shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Jefferies Group restated a “buy” rating and issued a $28.00 price objective on shares of First Midwest Bancorp in a report on Friday, December 8th. Sandler O’Neill set a $26.00 price objective on shares of First Midwest Bancorp and gave the stock a “hold” rating in a report 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 report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. First Midwest Bancorp presently has an average rating of “Buy” and an average target price of $26.67.

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First Midwest Bancorp 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.

Institutional Ownership by Quarter for First Midwest Bancorp (NASDAQ:FMBI)

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