Foundry Partners LLC boosted its position in First Midwest Bancorp, Inc. (NASDAQ:FMBI) by 8.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485,979 shares of the financial services provider’s stock after buying an additional 36,550 shares during the period. Foundry Partners LLC’s holdings in First Midwest Bancorp were worth $11,328,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of First Midwest Bancorp by 13.6% in the first quarter. Victory Capital Management Inc. now owns 6,683 shares of the financial services provider’s stock worth $158,000 after buying an additional 801 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of First Midwest Bancorp during the first quarter worth $177,000. Envestnet Asset Management Inc. raised its stake in shares of First Midwest Bancorp by 1.6% in the first quarter. Envestnet Asset Management Inc. now owns 8,560 shares of the financial services provider’s stock worth $203,000 after buying an additional 136 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of First Midwest Bancorp by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 8,950 shares of the financial services provider’s stock worth $211,000 after buying an additional 150 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in shares of First Midwest Bancorp by 0.3% in the first quarter. IFP Advisors Inc now owns 9,012 shares of the financial services provider’s stock worth $213,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds own 80.31% of the company’s stock.

Shares of First Midwest Bancorp, Inc. (NASDAQ:FMBI) opened at 20.97 on Friday. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 17.98 and a beta of 1.14. First Midwest Bancorp, Inc. has a 52-week low of $18.75 and a 52-week high of $25.83. The firm has a 50 day moving average price of $22.86 and a 200-day moving average price of $23.36.

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

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FMBI has been the topic of a number of research reports. Jefferies Group LLC restated a “buy” rating and set a $27.00 price objective on shares of First Midwest Bancorp in a research report on Friday. Zacks Investment Research upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Friday, July 7th. BidaskClub upgraded First Midwest Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. FIG Partners lowered First Midwest Bancorp from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $26.00 to $25.00 in a research report on Thursday, July 27th. Finally, Piper Jaffray Companies upgraded First Midwest Bancorp from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $25.00 to $26.00 in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. First Midwest Bancorp presently has a consensus rating of “Hold” and a consensus target price of $26.17.

In related news, Director Thomas Lynn Brown acquired 3,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were purchased at an average price of $24.06 per share, for a total transaction of $72,180.00. Following the completion of the acquisition, the director now owns 3,000 shares in the company, valued at $72,180. The purchase was disclosed in a filing with the SEC, which is available at this link. 1.69% of the stock is currently owned by insiders.

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.

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Institutional Ownership by Quarter for First Midwest Bancorp (NASDAQ:FMBI)

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