First Midwest Bancorp Inc. (FMBI) Shares Gap Up to $19.38
First Midwest Bancorp Inc. (NASDAQ:FMBI) gapped up before the market opened on Monday . The stock had previously closed at $19.37, but opened at $19.38. First Midwest Bancorp shares last traded at $19.50, with a volume of 96,655 shares.
A number of equities research analysts recently commented on FMBI shares. Macquarie started coverage on First Midwest Bancorp in a research note on Friday, May 13th. They set a “neutral” rating for the company. Zacks Investment Research raised First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Friday, July 1st. Piper Jaffray Cos. started coverage on First Midwest Bancorp in a research note on Friday, June 10th. They set a “neutral” rating and a $19.00 price objective for the company. Sterne Agee CRT started coverage on First Midwest Bancorp in a research note on Sunday, June 12th. They set a “hold” rating for the company. Finally, Jefferies Group reaffirmed a “buy” rating and set a $21.00 price objective on shares of First Midwest Bancorp in a research note on Thursday, July 7th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $19.36.
The firm has a market capitalization of $1.58 billion and a PE ratio of 18.70. The stock’s 50-day moving average price is $18.83 and its 200-day moving average price is $18.07.
First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.01. During the same period in the prior year, the firm earned $0.29 earnings per share. Equities analysts predict that First Midwest Bancorp Inc. will post $1.18 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Friday, September 30th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Wednesday, September 28th.
An institutional investor recently raised its position in First Midwest Bancorp stock. Bank of Montreal Can increased its stake in First Midwest Bancorp Inc. (NASDAQ:FMBI) by 13.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,663 shares of the financial services provider’s stock after buying an additional 8,446 shares during the period. Bank of Montreal Can owned 0.09% of First Midwest Bancorp worth $1,322,000 at the end of the most recent quarter.
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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