KCG Holdings Inc. Sells 3,370 Shares of First Midwest Bancorp, Inc. (FMBI)

KCG Holdings Inc. lowered its stake in First Midwest Bancorp, Inc. (NASDAQ:FMBI) by 12.6% during the first quarter, Holdings Channel reports. The firm owned 23,458 shares of the financial services provider’s stock after selling 3,370 shares during the period. KCG Holdings Inc.’s holdings in First Midwest Bancorp were worth $555,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Teachers Advisors LLC increased its stake in shares of First Midwest Bancorp by 2.1% in the fourth quarter. Teachers Advisors LLC now owns 852,375 shares of the financial services provider’s stock valued at $21,505,000 after buying an additional 17,355 shares during the period. Foundry Partners LLC increased its stake in shares of First Midwest Bancorp by 14.9% in the first quarter. Foundry Partners LLC now owns 449,429 shares of the financial services provider’s stock valued at $10,642,000 after buying an additional 58,405 shares during the period. United Services Automobile Association increased its stake in shares of First Midwest Bancorp by 72.6% in the first quarter. United Services Automobile Association now owns 1,036,966 shares of the financial services provider’s stock valued at $24,555,000 after buying an additional 436,260 shares during the period. State Street Corp increased its stake in shares of First Midwest Bancorp by 5.8% in the fourth quarter. State Street Corp now owns 2,350,108 shares of the financial services provider’s stock valued at $59,293,000 after buying an additional 128,467 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of First Midwest Bancorp by 39.5% in the first quarter. First Trust Advisors LP now owns 264,748 shares of the financial services provider’s stock valued at $6,269,000 after buying an additional 74,958 shares during the period. Institutional investors own 73.66% of the company’s stock.

First Midwest Bancorp, Inc. (NASDAQ:FMBI) opened at 23.74 on Monday. The firm has a market capitalization of $2.67 billion, a PE ratio of 21.08 and a beta of 1.16. The stock’s 50 day moving average price is $22.89 and its 200 day moving average price is $23.76. First Midwest Bancorp, Inc. has a 52-week low of $17.54 and a 52-week high of $25.83.

First Midwest Bancorp (NASDAQ:FMBI) last announced its earnings results on Tuesday, April 25th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.34. First Midwest Bancorp had a return on equity of 7.91% and a net margin of 16.73%. The business had revenue of $155.15 million for the quarter, compared to analyst estimates of $162 million. During the same period in the previous year, the company earned $0.27 earnings per share. Analysts expect that First Midwest Bancorp, Inc. will post $1.34 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 11th. Stockholders of record on Friday, June 30th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.68%. This is a positive change from First Midwest Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Wednesday, June 28th. First Midwest Bancorp’s payout ratio is presently 35.09%.

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Several equities research analysts have weighed in on FMBI shares. Zacks Investment Research downgraded First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Friday, April 28th. Keefe, Bruyette & Woods restated a “hold” rating and set a $25.00 price target on shares of First Midwest Bancorp in a report on Wednesday, April 12th. BidaskClub downgraded First Midwest Bancorp from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. FIG Partners upgraded First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a report on Friday, May 19th. Finally, Jefferies Group LLC restated a “buy” rating and set a $27.00 price target on shares of First Midwest Bancorp in a report on Sunday, June 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $26.50.

In other First Midwest Bancorp news, Director Thomas Lynn Brown bought 3,000 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were acquired at an average cost of $24.06 per share, with a total value of $72,180.00. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at $72,180. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.48% of the stock is currently owned by insiders.

First Midwest Bancorp Company Profile

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.

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).

Institutional Ownership by Quarter for First Midwest Bancorp (NASDAQ:FMBI)

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