First Trust Advisors LP Has $5.57 Million Holdings in First Midwest Bancorp Inc (FMBI)
First Trust Advisors LP raised its position in shares of First Midwest Bancorp Inc (NASDAQ:FMBI) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 209,402 shares of the financial services provider’s stock after buying an additional 7,753 shares during the quarter. First Trust Advisors LP’s holdings in First Midwest Bancorp were worth $5,568,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. FSI Group LLC purchased a new stake in shares of First Midwest Bancorp during the second quarter valued at about $214,000. First Hawaiian Bank purchased a new stake in shares of First Midwest Bancorp during the third quarter valued at about $365,000. Victory Capital Management Inc. lifted its position in shares of First Midwest Bancorp by 15.9% during the second quarter. Victory Capital Management Inc. now owns 16,378 shares of the financial services provider’s stock valued at $417,000 after buying an additional 2,246 shares during the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of First Midwest Bancorp by 20.1% during the second quarter. Xact Kapitalforvaltning AB now owns 20,932 shares of the financial services provider’s stock valued at $533,000 after buying an additional 3,500 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of First Midwest Bancorp during the second quarter valued at about $555,000. 82.76% of the stock is owned by institutional investors and hedge funds.
FMBI has been the subject of several analyst reports. BidaskClub raised shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Zacks Investment Research lowered shares of First Midwest Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $30.00 price objective on shares of First Midwest Bancorp in a research report on Thursday, July 26th. Piper Jaffray Companies set a $26.00 price objective on shares of First Midwest Bancorp and gave the company a “buy” rating in a research report on Friday, October 26th. Finally, Raymond James set a $25.00 price objective on shares of First Midwest Bancorp and gave the company a “buy” rating in a research report on Thursday, October 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.92.
First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.46 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. The firm had revenue of $167.69 million during the quarter, compared to analyst estimates of $168.87 million. First Midwest Bancorp had a net margin of 17.04% and a return on equity of 8.22%. During the same period last year, the firm posted $0.37 EPS. Analysts expect that First Midwest Bancorp Inc will post 1.67 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 8th. Investors of record on Friday, December 21st will be given a $0.12 dividend. This is a positive change from First Midwest Bancorp’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 2.08%. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 32.59%.
In related news, Director Frank Blaise Modruson acquired 4,444 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The stock was purchased at an average cost of $22.53 per share, with a total value of $100,123.32. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.69% of the company’s stock.
First Midwest Bancorp Profile
First Midwest Bancorp, Inc operates as a bank holding company for First Midwest Bank that provides various banking products and services. The company accepts checking, NOW, money market, and savings accounts, as well as various types of short-term and long-term certificates of deposit. Its loan products include working capital loans and lines of credit; accounts receivable financing; inventory and equipment financing; sector-based lending, including healthcare, asset-based lending, structured finance, and syndications; agricultural loans; and mortgages, home equity lines and loans, personal loans, specialty loans, and auto loans, as well as funding for the construction, purchase, refinance, or improvement of commercial real estate properties.
Featured Article: Float
Want to see what other hedge funds are holding FMBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Midwest Bancorp Inc (NASDAQ:FMBI).
Receive News & Ratings for First Midwest Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Midwest Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.