Great West Life Assurance Co. Can continued to hold its stake in First Midwest Bancorp Inc. (NASDAQ:FMBI) during the second quarter, Holdings Channel reports. The institutional investor owned 8,154 shares of the financial services provider’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in First Midwest Bancorp were worth $147,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in First Midwest Bancorp during the fourth quarter worth about $11,555,000. Glenmede Trust Co. NA boosted its stake in First Midwest Bancorp by 0.4% in the first quarter. Glenmede Trust Co. NA now owns 25,786 shares of the financial services provider’s stock worth $462,000 after buying an additional 110 shares during the last quarter. Nisa Investment Advisors L.L.C. boosted its stake in First Midwest Bancorp by 29.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 70,300 shares of the financial services provider’s stock worth $1,267,000 after buying an additional 16,000 shares during the last quarter. IFP Advisors Inc boosted its stake in First Midwest Bancorp by 0.3% in the first quarter. IFP Advisors Inc now owns 8,907 shares of the financial services provider’s stock worth $161,000 after buying an additional 23 shares during the last quarter. Finally, Teachers Advisors Inc. boosted its stake in First Midwest Bancorp by 295.2% in the first quarter. Teachers Advisors Inc. now owns 778,365 shares of the financial services provider’s stock worth $14,026,000 after buying an additional 581,401 shares during the last quarter. 82.14% of the stock is owned by institutional investors.

First Midwest Bancorp Inc. (NASDAQ:FMBI) traded up 1.40% during trading on Thursday, reaching $19.52. The company’s stock had a trading volume of 223,448 shares. First Midwest Bancorp Inc. has a 12 month low of $14.56 and a 12 month high of $19.90. The stock’s 50 day moving average is $19.25 and its 200 day moving average is $18.35. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 18.75 and a beta of 1.39.

First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. First Midwest Bancorp had a return on equity of 7.72% and a net margin of 16.58%. During the same quarter last year, the company posted $0.29 earnings per share. On average, equities analysts expect that First Midwest Bancorp Inc. will post $1.19 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.84%. First Midwest Bancorp’s payout ratio is presently 34.29%.

FMBI has been the subject of a number of recent analyst reports. Piper Jaffray Cos. initiated coverage on 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. Sterne Agee CRT assumed coverage on First Midwest Bancorp in a research note on Sunday, June 12th. They set a “hold” rating on the stock. Macquarie upgraded First Midwest Bancorp from a “neutral” rating to an “outperform” rating in a research note on Thursday, June 30th. Zacks Investment Research upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Friday, July 1st. Finally, Jefferies Group reiterated a “buy” rating and set a $21.00 target price on shares of First Midwest Bancorp in a research note on Thursday, July 7th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $19.36.

First Midwest Bancorp Company Profile

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.

5 Day Chart for NASDAQ:FMBI

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