First Midwest Bancorp Inc (NASDAQ:FMBI) Chairman Michael L. Scudder sold 8,554 shares of the stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $26.26, for a total transaction of $224,628.04. Following the completion of the sale, the chairman now directly owns 81,720 shares in the company, valued at approximately $2,145,967.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

First Midwest Bancorp Inc (NASDAQ:FMBI) opened at $26.36 on Wednesday. First Midwest Bancorp Inc has a 12-month low of $20.50 and a 12-month high of $26.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $2,724.55, a PE ratio of 18.89, a PEG ratio of 2.19 and a beta of 1.16.

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First Midwest Bancorp (NASDAQ:FMBI) last posted its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). First Midwest Bancorp had a net margin of 14.59% and a return on equity of 7.69%. The business had revenue of $154.24 million for the quarter, compared to the consensus estimate of $162.84 million. During the same quarter last year, the business posted $0.32 EPS. sell-side analysts expect that First Midwest Bancorp Inc will post 1.73 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Friday, March 23rd will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.67%. This is a boost from First Midwest Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, March 22nd. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 41.67%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Zions Bancorporation acquired a new position in shares of First Midwest Bancorp in the third quarter worth about $112,000. Quantbot Technologies LP acquired a new position in shares of First Midwest Bancorp in the third quarter worth about $118,000. CIBC Asset Management Inc acquired a new position in shares of First Midwest Bancorp in the third quarter worth about $201,000. Victory Capital Management Inc. boosted its holdings in shares of First Midwest Bancorp by 38.8% in the third quarter. Victory Capital Management Inc. now owns 10,915 shares of the financial services provider’s stock worth $256,000 after buying an additional 3,053 shares during the period. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of First Midwest Bancorp in the fourth quarter worth about $289,000. Institutional investors own 83.70% of the company’s stock.

A number of equities analysts recently issued reports on FMBI shares. BidaskClub lowered shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, January 30th. Zacks Investment Research upgraded shares of First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Friday, January 12th. Jefferies Group reiterated a “buy” rating and issued a $28.00 target price on shares of First Midwest Bancorp in a research report on Friday, December 8th. Piper Jaffray Companies reiterated a “buy” rating and issued a $29.00 target price on shares of First Midwest Bancorp in a research report on Tuesday, January 9th. Finally, Sandler O’Neill set a $26.00 price objective on shares of First Midwest Bancorp and gave the company a “hold” rating in a research report on Wednesday, January 3rd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. First Midwest Bancorp presently has a consensus rating of “Buy” and an average target price of $26.67.

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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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