Receive News & Ratings for First Midwest Bancorp Inc. Daily

Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Midwest Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

First Midwest Bancorp, Inc. (FMBI) Lowered to Sell at Zacks Investment Research

First Midwest Bancorp, Inc. (NASDAQ:FMBI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.

Receive News & Ratings for First Midwest Bancorp Inc. Daily

Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Midwest Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

According to Zacks, “FIRST MIDWEST BANCORP, INC. is a multi-bank holding company engaged in commercial banking, trust, investment management, insurance, mortgage origination and servicing activities. “

FMBI has been the topic of several other reports. Jefferies Group LLC restated a “buy” rating and issued a $27.00 price target on shares of First Midwest Bancorp in a research report on Friday, August 11th. BidaskClub lowered First Midwest Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. ValuEngine upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Piper Jaffray Companies upgraded First Midwest Bancorp from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $25.00 to $26.00 in a research report on Monday, July 24th. Finally, FIG Partners lowered First Midwest Bancorp from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $26.00 to $25.00 in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. First Midwest Bancorp presently has an average rating of “Hold” and a consensus price target of $26.17.

Shares of First Midwest Bancorp (NASDAQ FMBI) traded up 1.30% during midday trading on Thursday, hitting $23.30. The stock had a trading volume of 568,003 shares. The firm has a market capitalization of $2.39 billion, a PE ratio of 19.98 and a beta of 1.16. The firm’s 50-day moving average price is $21.88 and its 200-day moving average price is $22.66. First Midwest Bancorp has a one year low of $18.75 and a one year high of $25.83.

First Midwest Bancorp (NASDAQ:FMBI) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). First Midwest Bancorp had a return on equity of 7.81% and a net margin of 17.30%. The company had revenue of $162.53 million during the quarter, compared to the consensus estimate of $164.02 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. On average, equities analysts predict that First Midwest Bancorp will post $1.30 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This report was reported by [[site]] and is the property of of [[site]]. If you are reading this report on another website, it was illegally stolen and republished in violation of U.S. & international copyright law. The correct version of this report can be read at [[permalink]].

In other First Midwest Bancorp news, Director Patrick J. Mcdonnell sold 3,500 shares of First Midwest Bancorp stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $21.85, for a total transaction of $76,475.00. Following the transaction, the director now directly owns 24,237 shares in the company, valued at $529,578.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.69% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Highbridge Capital Management LLC lifted its holdings in First Midwest Bancorp by 231.2% during the first quarter. Highbridge Capital Management LLC now owns 250,444 shares of the financial services provider’s stock worth $5,931,000 after acquiring an additional 174,825 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in First Midwest Bancorp by 18.1% during the second quarter. Bank of New York Mellon Corp now owns 2,483,563 shares of the financial services provider’s stock worth $57,890,000 after acquiring an additional 380,112 shares in the last quarter. Citadel Advisors LLC bought a new position in First Midwest Bancorp during the first quarter worth about $7,621,000. Cipher Capital LP lifted its holdings in First Midwest Bancorp by 153.6% during the second quarter. Cipher Capital LP now owns 83,134 shares of the financial services provider’s stock worth $1,938,000 after acquiring an additional 50,358 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in First Midwest Bancorp by 146.9% during the first quarter. Bank of America Corp DE now owns 861,479 shares of the financial services provider’s stock worth $20,400,000 after acquiring an additional 512,609 shares in the last quarter. Hedge funds and other institutional investors own 80.94% of the company’s stock.

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.