First Midwest Bancorp (NASDAQ:FMBI) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Saturday.
Several other equities research analysts have also weighed in on FMBI. Piper Jaffray Companies restated a “buy” rating and issued a $29.00 target price on shares of First Midwest Bancorp in a report on Tuesday, January 9th. Zacks Investment Research upgraded First Midwest Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Keefe, Bruyette & Woods restated a “hold” rating and issued a $23.00 target price on shares of First Midwest Bancorp in a report on Thursday, October 26th. Jefferies Group restated a “buy” rating and issued a $28.00 target price on shares of First Midwest Bancorp in a report on Friday, December 8th. Finally, Sandler O’Neill set a $26.00 target price on First Midwest Bancorp and gave the stock a “hold” rating in a report on Wednesday, January 3rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. First Midwest Bancorp presently has a consensus rating of “Buy” and a consensus target price of $26.67.
Shares of First Midwest Bancorp (FMBI) opened at $24.15 on Friday. First Midwest Bancorp has a 1-year low of $20.50 and a 1-year high of $26.48. The company has a quick ratio of 0.98, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $2,510.40, a P/E ratio of 25.16, a P/E/G ratio of 2.02 and a beta of 1.18.
In other news, Director Robert P. Omeara sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $24.56, for a total transaction of $1,228,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.69% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of FMBI. Zions Bancorporation acquired a new position in shares of First Midwest Bancorp during the third quarter worth approximately $112,000. Quantbot Technologies LP acquired a new position in shares of First Midwest Bancorp during the third quarter worth approximately $118,000. CIBC Asset Management Inc acquired a new position in shares of First Midwest Bancorp during the third quarter worth approximately $201,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of First Midwest Bancorp during the second quarter worth approximately $213,000. Finally, MPS Loria Financial Planners LLC acquired a new position in shares of First Midwest Bancorp during the second quarter worth approximately $235,000. Institutional investors own 80.85% of the company’s stock.
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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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