Equities analysts expect that First Midwest Bancorp Inc (NASDAQ:FMBI) will report earnings per share of $0.36 for the current fiscal quarter, Zacks reports. Six analysts have made estimates for First Midwest Bancorp’s earnings, with the lowest EPS estimate coming in at $0.34 and the highest estimate coming in at $0.37. First Midwest Bancorp posted earnings of $0.32 per share during the same quarter last year, which would indicate a positive year over year growth rate of 12.5%. The business is expected to announce its next quarterly earnings results after the market closes on Monday, January 29th.
According to Zacks, analysts expect that First Midwest Bancorp will report full year earnings of $1.29 per share for the current fiscal year, with EPS estimates ranging from $1.28 to $1.31. For the next year, analysts forecast that the business will post earnings of $1.57 per share, with EPS estimates ranging from $1.45 to $1.73. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow First Midwest Bancorp.
First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.01. The firm had revenue of $163.24 million for the quarter, compared to analyst estimates of $164.81 million. First Midwest Bancorp had a net margin of 18.08% and a return on equity of 7.89%. During the same period last year, the company posted $0.32 EPS.
Shares of First Midwest Bancorp (FMBI) traded up $0.17 during trading on Tuesday, reaching $24.67. 675,496 shares of the company were exchanged, compared to its average volume of 584,250. The stock has a market cap of $2,530.00, a price-to-earnings ratio of 20.73, a PEG ratio of 2.21 and a beta of 1.17. First Midwest Bancorp has a 1 year low of $20.50 and a 1 year high of $25.86. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.98.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 9th. Stockholders of record on Friday, December 22nd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.62%. First Midwest Bancorp’s dividend payout ratio is currently 33.61%.
In other news, Director Robert P. Omeara sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $24.56, for a total transaction of $1,228,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.69% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in FMBI. Schwab Charles Investment Management Inc. increased its holdings in shares of First Midwest Bancorp by 10.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 397,411 shares of the financial services provider’s stock worth $9,264,000 after buying an additional 37,828 shares during the last quarter. Legal & General Group Plc boosted its position in shares of First Midwest Bancorp by 15.3% during the 2nd quarter. Legal & General Group Plc now owns 165,161 shares of the financial services provider’s stock worth $3,850,000 after purchasing an additional 21,869 shares during the period. Victory Capital Management Inc. boosted its position in shares of First Midwest Bancorp by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 7,862 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 1,179 shares during the period. Neuberger Berman Group LLC boosted its position in shares of First Midwest Bancorp by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 10,303 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 77 shares during the period. Finally, Pacad Investment Ltd. boosted its position in shares of First Midwest Bancorp by 41.9% during the 2nd quarter. Pacad Investment Ltd. now owns 4,400 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 1,300 shares during the period. Institutional investors and hedge funds own 81.33% of the company’s stock.
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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