First Midwest Bancorp Inc (NASDAQ:FMBI) Director Arsdell Stephen C. Van purchased 2,500 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was bought at an average cost of $20.11 per share, with a total value of $50,275.00. Following the completion of the acquisition, the director now directly owns 16,500 shares of the company’s stock, valued at approximately $331,815. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of First Midwest Bancorp stock traded up $0.35 on Tuesday, reaching $20.62. The company’s stock had a trading volume of 22,158 shares, compared to its average volume of 531,217. The stock has a market capitalization of $2.19 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.48 and a beta of 1.25. First Midwest Bancorp Inc has a 52-week low of $18.10 and a 52-week high of $27.70. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.97 and a quick ratio of 0.97.

First Midwest Bancorp (NASDAQ:FMBI) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. The business had revenue of $175.04 million during the quarter, compared to analysts’ expectations of $175.47 million. First Midwest Bancorp had a return on equity of 9.33% and a net margin of 22.44%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 earnings per share. On average, equities research analysts anticipate that First Midwest Bancorp Inc will post 1.95 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Friday, June 28th will be given a $0.14 dividend. The ex-dividend date is Thursday, June 27th. This is a boost from First Midwest Bancorp’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.72%. First Midwest Bancorp’s payout ratio is 28.74%.

A number of brokerages have issued reports on FMBI. BidaskClub raised First Midwest Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 20th. Piper Jaffray Companies set a $26.00 price target on First Midwest Bancorp and gave the company a “buy” rating in a report on Friday, January 25th. Finally, FIG Partners raised First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a report on Thursday, May 16th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $26.08.

Institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank purchased a new stake in shares of First Midwest Bancorp in the fourth quarter valued at approximately $25,000. NumerixS Investment Technologies Inc increased its position in shares of First Midwest Bancorp by 100.0% in the first quarter. NumerixS Investment Technologies Inc now owns 1,850 shares of the financial services provider’s stock valued at $38,000 after buying an additional 925 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of First Midwest Bancorp in the fourth quarter valued at approximately $40,000. Meeder Asset Management Inc. purchased a new stake in shares of First Midwest Bancorp in the fourth quarter valued at approximately $99,000. Finally, Fifth Third Bancorp purchased a new stake in shares of First Midwest Bancorp in the first quarter valued at approximately $103,000. Institutional investors and hedge funds own 82.25% of the company’s stock.

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About First Midwest Bancorp

First Midwest Bancorp, Inc operates as the 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; 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 consumer secured loans, as well as funding for the construction, purchase, refinance, or improvement of commercial real estate properties.

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