Q4 2017 Earnings Estimate for First Midwest Bancorp Inc (NASDAQ:FMBI) Issued By Jefferies Group

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.

Other research analysts also recently issued research reports about the company. BidaskClub raised First Midwest Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research raised First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Friday, January 12th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $29.00 price objective on shares of First Midwest Bancorp in a research note on Tuesday, January 9th. ValuEngine raised First Midwest Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Finally, Sandler O’Neill set a $26.00 price objective on First Midwest Bancorp and gave the stock a “hold” rating in a research note on Wednesday, January 3rd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $26.67.

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%.

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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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Earnings History and Estimates for First Midwest Bancorp (NASDAQ:FMBI)

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