Shell Asset Management Co. Holds Stake in First Midwest Bancorp, Inc. (FMBI)

Shell Asset Management Co. maintained its stake in shares of First Midwest Bancorp, Inc. (NASDAQ:FMBI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,359 shares of the financial services provider’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in First Midwest Bancorp were worth $987,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in FMBI. NJ State Employees Deferred Compensation Plan purchased a new position in First Midwest Bancorp during the first quarter worth $545,000. IFP Advisors Inc increased its position in First Midwest Bancorp by 0.3% in the first quarter. IFP Advisors Inc now owns 9,012 shares of the financial services provider’s stock worth $213,000 after buying an additional 25 shares during the period. Strs Ohio increased its position in First Midwest Bancorp by 0.7% in the first quarter. Strs Ohio now owns 235,200 shares of the financial services provider’s stock worth $5,569,000 after buying an additional 1,700 shares during the period. Nationwide Fund Advisors increased its position in First Midwest Bancorp by 17.4% in the first quarter. Nationwide Fund Advisors now owns 181,931 shares of the financial services provider’s stock worth $4,308,000 after buying an additional 26,969 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. increased its position in First Midwest Bancorp by 3.2% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 828,019 shares of the financial services provider’s stock worth $19,607,000 after buying an additional 25,914 shares during the period. Institutional investors own 80.26% of the company’s stock.

Shares of First Midwest Bancorp, Inc. (FMBI) traded down 0.19% during mid-day trading on Friday, hitting $20.79. The stock had a trading volume of 555,738 shares. The stock’s 50-day moving average price is $22.59 and its 200-day moving average price is $23.24. The firm has a market cap of $2.14 billion, a PE ratio of 17.83 and a beta of 1.14. First Midwest Bancorp, Inc. has a 52-week low of $18.75 and a 52-week high of $25.83.

First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.01. First Midwest Bancorp had a return on equity of 7.81% and a net margin of 17.30%. The company had revenue of $162.53 million during the quarter, compared to the consensus estimate of $164.02 million. During the same period in the prior year, the firm earned $0.32 earnings per share. On average, analysts anticipate that First Midwest Bancorp, Inc. will post $1.30 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.92%. First Midwest Bancorp’s dividend payout ratio is currently 34.19%.

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A number of research firms recently weighed in on FMBI. Jefferies Group LLC reaffirmed a “buy” rating and set a $27.00 price target on shares of First Midwest Bancorp in a research note on Friday, August 11th. BidaskClub downgraded First Midwest Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Zacks Investment Research downgraded First Midwest Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. Piper Jaffray Companies raised First Midwest Bancorp from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $25.00 to $26.00 in a research note on Monday, July 24th. Finally, FIG Partners raised First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a research note on Friday, May 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $26.17.

In related news, Director Thomas Lynn Brown purchased 3,000 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were purchased at an average cost of $24.06 per share, with a total value of $72,180.00. Following the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $72,180. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.69% of the company’s stock.

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.

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

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