Quadrature Capital Ltd purchased a new stake in First Midwest Bancorp Inc (NASDAQ:FMBI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,018 shares of the financial services provider’s stock, valued at approximately $278,000.
Other large investors also recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in First Midwest Bancorp by 3.3% in the third quarter. Victory Capital Management Inc. now owns 6,027 shares of the financial services provider’s stock valued at $117,000 after buying an additional 194 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in First Midwest Bancorp during the third quarter valued at about $124,000. Elkfork Partners LLC purchased a new stake in First Midwest Bancorp during the fourth quarter valued at about $208,000. GSA Capital Partners LLP raised its stake in First Midwest Bancorp by 10.5% in the fourth quarter. GSA Capital Partners LLP now owns 11,329 shares of the financial services provider’s stock valued at $286,000 after buying an additional 1,079 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in First Midwest Bancorp during the third quarter valued at about $324,000. 81.17% of the stock is currently owned by institutional investors.
Shares of First Midwest Bancorp Inc (NASDAQ:FMBI) traded down 2.52% on Thursday, reaching $23.22. 817,931 shares of the company were exchanged. First Midwest Bancorp Inc has a 52-week low of $15.86 and a 52-week high of $25.83. The stock has a 50 day moving average of $23.41 and a 200-day moving average of $23.33. The company has a market capitalization of $2.38 billion, a P/E ratio of 20.37 and a beta of 1.22.
First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34. First Midwest Bancorp had a net margin of 17.08% and a return on equity of 7.79%. The firm earned $155.15 million during the quarter, compared to analysts’ expectations of $162 million. During the same period in the previous year, the company earned $0.27 earnings per share. On average, analysts predict that First Midwest Bancorp Inc will post $1.46 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 11th. Investors of record on Friday, March 24th were given a $0.09 dividend. The ex-dividend date was Wednesday, March 22nd. This represents a $0.36 dividend on an annualized basis and a yield of 1.55%. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 31.58%.
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Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and set a $25.00 target price on shares of First Midwest Bancorp in a research note on Wednesday, April 12th. Jefferies Group LLC reissued a “buy” rating and set a $27.00 target price on shares of First Midwest Bancorp in a research note on Wednesday, April 5th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $25.20.
In related news, Director Arsdell Stephen C. Van purchased 14,000 shares of First Midwest Bancorp stock in a transaction that occurred on Tuesday, March 7th. The stock was purchased at an average cost of $24.39 per share, with a total value of $341,460.00. Following the completion of the transaction, the director now directly owns 14,000 shares in the company, valued at $341,460. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert P. Diedrich sold 7,673 shares of the business’s stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $23.70, for a total transaction of $181,850.10. The disclosure for this sale can be found here. 2.48% of the stock is owned by insiders.
About First Midwest Bancorp
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.
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