First Midwest Bancorp Inc. (FMBI) Reaches New 1-Year High at $19.81
First Midwest Bancorp Inc. (NASDAQ:FMBI)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $19.81 and last traded at $19.80, with a volume of 458,013 shares trading hands. The stock had previously closed at $19.55.
Several equities analysts recently issued reports on the stock. Jefferies Group reissued a “buy” rating and set a $21.00 price target on shares of First Midwest Bancorp in a report on Thursday, July 7th. Sterne Agee CRT began coverage on shares of First Midwest Bancorp in a research report on Sunday, June 12th. They issued a “hold” rating for the company. Piper Jaffray Cos. began coverage on shares of First Midwest Bancorp in a research report on Friday, June 10th. They issued a “neutral” rating and a $19.00 price objective for the company. Zacks Investment Research upgraded shares of First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Friday, July 1st. Finally, Macquarie upgraded shares of First Midwest Bancorp from a “neutral” rating to an “outperform” rating in a research report on Thursday, June 30th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $19.36.
The company has a 50 day moving average of $18.98 and a 200 day moving average of $18.12. The firm has a market capitalization of $1.61 billion and a P/E ratio of 19.02.
First Midwest Bancorp (NASDAQ:FMBI) last released its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. During the same quarter last year, the company earned $0.29 earnings per share. On average, equities analysts expect that First Midwest Bancorp Inc. will post $1.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Friday, September 30th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.36 annualized dividend and a dividend yield of 1.82%.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.