Zacks Investment Research upgraded shares of First Midwest Bancorp, Inc. (NASDAQ:FMBI) from a sell rating to a hold rating in a report released on Wednesday morning.

According to Zacks, “FIRST MIDWEST BANCORP, INC. is a multi-bank holding company engaged in commercial banking, trust, investment management, insurance, mortgage origination and servicing activities. “

Several other equities research analysts have also commented on the stock. Keefe, Bruyette & Woods reiterated a hold rating and issued a $23.00 price objective on shares of First Midwest Bancorp in a research note on Thursday, October 26th. Piper Jaffray Companies reiterated a buy rating and issued a $26.00 price objective on shares of First Midwest Bancorp in a research note on Wednesday, October 4th. ValuEngine upgraded shares of First Midwest Bancorp from a hold rating to a buy rating in a research note on Tuesday, September 26th. Jefferies Group LLC restated a buy rating and set a $27.00 price target on shares of First Midwest Bancorp in a research note on Friday, August 11th. Finally, BidaskClub lowered shares of First Midwest Bancorp from a sell rating to a strong sell rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. First Midwest Bancorp currently has an average rating of Hold and an average price target of $25.83.

Shares of First Midwest Bancorp (NASDAQ:FMBI) opened at $23.40 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.95. The company has a market cap of $2,403.69, a PE ratio of 16.96, a price-to-earnings-growth ratio of 2.37 and a beta of 1.15. First Midwest Bancorp has a one year low of $18.85 and a one year high of $25.83.

First Midwest Bancorp (NASDAQ:FMBI) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The firm had revenue of $163.24 million during the quarter, compared to analyst estimates of $164.81 million. First Midwest Bancorp had a net margin of 18.08% and a return on equity of 7.89%. During the same quarter last year, the business posted $0.32 EPS. equities research analysts forecast that First Midwest Bancorp will post 1.41 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “First Midwest Bancorp, Inc. (FMBI) Upgraded at Zacks Investment Research” was first reported by Daily Political and is the sole property of of Daily Political. If you are reading this article on another site, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The correct version of this article can be viewed at https://www.dailypolitical.com/2017/11/05/first-midwest-bancorp-inc-fmbi-upgraded-at-zacks-investment-research.html.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.71%. First Midwest Bancorp’s payout ratio is currently 33.61%.

In other news, Director Patrick J. Mcdonnell sold 3,500 shares of the firm’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 completion of the sale, the director now owns 24,237 shares in the company, valued at approximately $529,578.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.69% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its holdings in First Midwest Bancorp by 0.3% in the 2nd quarter. ProShare Advisors LLC now owns 13,459 shares of the financial services provider’s stock worth $314,000 after buying an additional 36 shares during the period. Neuberger Berman Group LLC boosted 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 buying an additional 77 shares during the period. Louisiana State Employees Retirement System boosted its holdings in First Midwest Bancorp by 0.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 33,100 shares of the financial services provider’s stock worth $772,000 after buying an additional 100 shares during the period. Texas Permanent School Fund boosted its holdings in First Midwest Bancorp by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 59,270 shares of the financial services provider’s stock worth $1,382,000 after buying an additional 581 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in First Midwest Bancorp by 3.9% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 19,140 shares of the financial services provider’s stock worth $446,000 after buying an additional 710 shares during the period. 80.84% of the stock is owned by institutional investors.

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.

Get a free copy of the Zacks research report on First Midwest Bancorp (FMBI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for First Midwest Bancorp (NASDAQ:FMBI)

Receive News & Ratings for First Midwest Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Midwest Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.