First Midwest Bancorp Inc (NASDAQ:FMBI) – Equities research analysts at Jefferies Group lifted their Q4 2017 earnings per share estimates for First Midwest Bancorp in a research note issued to investors on Monday, Zacks Investment Research reports. Jefferies Group analyst C. Haire now forecasts that the financial services provider will post earnings of $0.35 per share for the quarter, up from their previous estimate of $0.34. Jefferies Group currently has a “Buy” rating and a $28.00 target price on the stock. Jefferies Group also issued estimates for First Midwest Bancorp’s FY2018 earnings at $1.68 EPS and FY2019 earnings at $1.84 EPS.
First Midwest Bancorp (NASDAQ:FMBI) last posted its earnings results on Tuesday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. First Midwest Bancorp had a return on equity of 7.89% and a net margin of 18.08%. The company had revenue of $163.24 million for the quarter, compared to the consensus estimate of $164.81 million. During the same quarter in the prior year, the company earned $0.32 earnings per share.
First Midwest Bancorp (NASDAQ FMBI) opened at $25.93 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.98. First Midwest Bancorp has a 12 month low of $20.50 and a 12 month high of $26.46. The company has a market capitalization of $2,648.35, a PE ratio of 21.79, a PEG ratio of 2.13 and a beta of 1.17.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in First Midwest Bancorp by 8.5% during the 2nd quarter. BlackRock Inc. now owns 11,210,324 shares of the financial services provider’s stock valued at $261,312,000 after buying an additional 873,753 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of First Midwest Bancorp by 13.1% in the 2nd quarter. Vanguard Group Inc. now owns 8,957,728 shares of the financial services provider’s stock valued at $208,804,000 after purchasing an additional 1,037,378 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of First Midwest Bancorp by 3.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,075,566 shares of the financial services provider’s stock valued at $142,290,000 after purchasing an additional 192,379 shares during the last quarter. State Street Corp lifted its stake in shares of First Midwest Bancorp by 21.5% in the 2nd quarter. State Street Corp now owns 3,645,798 shares of the financial services provider’s stock valued at $84,982,000 after purchasing an additional 644,968 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of First Midwest Bancorp by 20.1% in the 2nd quarter. Northern Trust Corp now owns 2,673,098 shares of the financial services provider’s stock valued at $62,310,000 after purchasing an additional 446,786 shares during the last quarter. Institutional investors and hedge funds own 81.33% of the company’s stock.
In related news, Director Robert P. Omeara sold 50,000 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $24.56, for a total transaction of $1,228,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.69% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 9th. Investors of record on Friday, December 22nd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Thursday, December 21st. First Midwest Bancorp’s dividend payout ratio is currently 33.61%.
COPYRIGHT VIOLATION NOTICE: “Q4 2017 Earnings Estimate for First Midwest Bancorp Inc (NASDAQ:FMBI) Issued By Jefferies Group” was originally published by BBNS and is owned by of BBNS. If you are reading this article on another site, it was copied illegally and republished in violation of US and international copyright & trademark laws. The correct version of this article can be read at https://baseballnewssource.com/markets/first-midwest-bancorp-inc-forecasted-to-earn-q4-2017-earnings-of-0-35-per-share-fmbi/1824238.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for First Midwest Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Midwest Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.