First Midwest Bancorp Inc (FMBI) Chairman Sells $224,628.04 in Stock
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.
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.
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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