First Midwest Bancorp (NASDAQ:FMBI) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

First Midwest Bancorp (NASDAQ:FMBI) posted its quarterly earnings results on Tuesday. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01, Fidelity Earnings reports. The firm had revenue of $194.86 million for the quarter, compared to analysts’ expectations of $192.33 million. First Midwest Bancorp had a return on equity of 9.51% and a net margin of 22.55%.

NASDAQ FMBI opened at $21.60 on Wednesday. The firm has a market capitalization of $2.45 billion, a P/E ratio of 12.41 and a beta of 1.29. The business has a fifty day simple moving average of $22.67 and a 200 day simple moving average of $20.83. First Midwest Bancorp has a 12 month low of $18.29 and a 12 month high of $23.68. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.81.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Friday, December 20th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Thursday, December 19th. First Midwest Bancorp’s payout ratio is currently 33.53%.

A number of equities analysts have issued reports on the company. BidaskClub cut First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Zacks Investment Research cut First Midwest Bancorp from a “hold” rating to a “sell” rating in a report on Monday, January 6th. ValuEngine raised First Midwest Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Stephens raised First Midwest Bancorp from an “equal” rating to an “overweight” rating and upped their target price for the stock from $21.00 to $23.00 in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. First Midwest Bancorp presently has an average rating of “Hold” and an average price target of $23.67.

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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Earnings History for First Midwest Bancorp (NASDAQ:FMBI)

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