First Midwest Bancorp Inc. (FMBI) Reaches New 12-Month High at $19.81
First Midwest Bancorp Inc. (NASDAQ:FMBI) shares reached a new 52-week high during trading on Friday . The stock traded as high as $19.81 and last traded at $19.80, with a volume of 458,013 shares traded. The stock had previously closed at $19.55.
Several research analysts have recently commented on FMBI shares. Zacks Investment Research upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Friday, July 1st. Piper Jaffray Cos. started coverage on First Midwest Bancorp in a research report on Friday, June 10th. They set a “neutral” rating and a $19.00 price target for the company. Macquarie upgraded First Midwest Bancorp from a “neutral” rating to an “outperform” rating in a research report on Thursday, June 30th. Jefferies Group reiterated a “buy” rating and issued a $21.00 target price on shares of First Midwest Bancorp in a report on Thursday, July 7th. Finally, Sterne Agee CRT started coverage on First Midwest Bancorp in a report on Sunday, June 12th. They issued a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. First Midwest Bancorp has a consensus rating of “Hold” and a consensus price target of $19.36.
The stock has a market capitalization of $1.61 billion and a price-to-earnings ratio of 19.02. The company has a 50 day moving average price of $18.98 and a 200-day moving average price of $18.12.
First Midwest Bancorp (NASDAQ:FMBI) last posted its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. During the same quarter in the prior year, the firm earned $0.29 earnings per share. Analysts predict that First Midwest Bancorp Inc. will post $1.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Friday, September 30th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Wednesday, September 28th.
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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