First Midwest Bancorp, Inc. (NASDAQ:FMBI) Director Patrick J. Mcdonnell sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $21.85, for a total transaction of $76,475.00. Following the transaction, the director now directly owns 24,237 shares in the company, valued at $529,578.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $162.53 million for the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $0.32 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Thursday, September 28th. First Midwest Bancorp’s payout ratio is presently 34.19%.

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FMBI has been the subject of a number of analyst reports. Jefferies Group LLC reiterated a “buy” rating and issued a $27.00 target price on shares of First Midwest Bancorp in a research note on Sunday, June 11th. BidaskClub upgraded shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Zacks Investment Research upgraded shares of First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Friday, July 7th. Piper Jaffray Companies upgraded shares of First Midwest Bancorp from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $25.00 to $26.00 in a research note on Monday, July 24th. Finally, FIG Partners cut shares of First Midwest Bancorp from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $26.00 to $25.00 in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $26.17.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FMBI. BlackRock Inc. boosted its holdings in shares of First Midwest Bancorp by 49,897.9% in the 1st quarter. BlackRock Inc. now owns 10,336,571 shares of the financial services provider’s stock valued at $244,770,000 after buying an additional 10,315,897 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of First Midwest Bancorp by 15.1% in the 1st quarter. Vanguard Group Inc. now owns 7,920,350 shares of the financial services provider’s stock valued at $187,554,000 after buying an additional 1,037,514 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of First Midwest Bancorp by 87.1% in the 1st quarter. Bank of New York Mellon Corp now owns 2,103,451 shares of the financial services provider’s stock valued at $49,808,000 after buying an additional 979,512 shares during the last quarter. State Street Corp boosted its holdings in shares of First Midwest Bancorp by 27.7% in the 1st quarter. State Street Corp now owns 3,000,830 shares of the financial services provider’s stock valued at $71,057,000 after buying an additional 650,722 shares during the last quarter. Finally, Rothschild Asset Management Inc. acquired a new stake in shares of First Midwest Bancorp in the 1st quarter valued at approximately $13,767,000. 80.93% of the stock is owned by institutional investors.

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.

Insider Buying and Selling by Quarter for First Midwest Bancorp (NASDAQ:FMBI)

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