Several other equities analysts have also weighed in on the stock. DA Davidson dropped their price objective on shares of First Midwest Bancorp from $23.00 to $22.00 and set a neutral rating on the stock in a research report on Thursday, September 5th. Raymond James lowered shares of First Midwest Bancorp to a hold rating in a research report on Monday, July 8th. Finally, Zacks Investment Research raised shares of First Midwest Bancorp from a sell rating to a hold rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. First Midwest Bancorp currently has an average rating of Hold and a consensus price target of $24.00.
Shares of FMBI stock opened at $19.80 on Tuesday. The stock has a market cap of $2.18 billion, a P/E ratio of 10.40, a P/E/G ratio of 1.45 and a beta of 1.27. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.97 and a quick ratio of 0.97. The company has a fifty day moving average price of $19.51 and a two-hundred day moving average price of $20.50. First Midwest Bancorp has a one year low of $18.10 and a one year high of $27.52.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Friday, September 27th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, September 26th. First Midwest Bancorp’s payout ratio is presently 33.53%.
Institutional investors and hedge funds have recently modified their holdings of the company. AdvisorNet Financial Inc bought a new position in shares of First Midwest Bancorp in the second quarter valued at about $31,000. Rockefeller Capital Management L.P. raised its position in shares of First Midwest Bancorp by 83.2% in the second quarter. Rockefeller Capital Management L.P. now owns 1,533 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 696 shares during the period. NumerixS Investment Technologies Inc raised its position in shares of First Midwest Bancorp by 47.3% in the second quarter. NumerixS Investment Technologies Inc now owns 2,725 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 875 shares during the period. Pearl River Capital LLC bought a new position in shares of First Midwest Bancorp in the second quarter valued at about $88,000. Finally, Atria Investments LLC bought a new position in shares of First Midwest Bancorp in the second quarter valued at about $205,000. 82.31% of the stock is currently owned by institutional investors.
First Midwest Bancorp Company Profile
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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