Los Angeles Capital Management & Equity Research Inc. reduced its stake in First Midwest Bancorp, Inc. (NASDAQ:FMBI) by 21.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 122,726 shares of the financial services provider’s stock after selling 32,685 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.12% of First Midwest Bancorp worth $2,861,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in FMBI. Pacad Investment Ltd. raised its holdings in First Midwest Bancorp by 41.9% in the 2nd quarter. Pacad Investment Ltd. now owns 4,400 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 1,300 shares during the period. Victory Capital Management Inc. raised its holdings in First Midwest Bancorp by 13.6% in the 1st quarter. Victory Capital Management Inc. now owns 6,683 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 801 shares during the period. Ameritas Investment Partners Inc. bought a new position in First Midwest Bancorp in the 1st quarter worth $177,000. Envestnet Asset Management Inc. raised its holdings in First Midwest Bancorp by 1.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,560 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 136 shares during the period. Finally, Neuberger Berman Group LLC raised its holdings in First Midwest Bancorp by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 10,303 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 77 shares during the period. 80.96% of the stock is currently owned by institutional investors.

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Shares of First Midwest Bancorp, Inc. (NASDAQ FMBI) opened at 21.97 on Friday. The firm’s 50-day moving average price is $21.48 and its 200-day moving average price is $22.82. First Midwest Bancorp, Inc. has a 12-month low of $18.75 and a 12-month high of $25.83. The company has a market capitalization of $2.26 billion, a PE ratio of 18.84 and a beta of 1.15.

First Midwest Bancorp (NASDAQ:FMBI) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $162.53 million during the quarter, compared to analyst estimates of $164.02 million. First Midwest Bancorp had a net margin of 17.30% and a return on equity of 7.81%. During the same period in the prior year, the company earned $0.32 earnings per share. On average, analysts expect that First Midwest Bancorp, Inc. will post $1.30 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be issued a $0.10 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.40 annualized dividend and a yield of 1.82%. First Midwest Bancorp’s dividend payout ratio is presently 34.19%.

A number of equities analysts recently commented on FMBI shares. Piper Jaffray Companies raised First Midwest Bancorp from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $25.00 to $26.00 in a report on Monday, July 24th. Zacks Investment Research raised First Midwest Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub cut First Midwest Bancorp from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. FIG Partners raised First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a report on Friday, May 19th. Finally, ValuEngine cut First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. First Midwest Bancorp presently has an average rating of “Hold” and a consensus price target of $26.17.

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.

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

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