First Midwest Bancorp (FMBI) Stock Rating Upgraded by BidaskClub

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.

First Midwest Bancorp (NASDAQ:FMBI) last posted its earnings results on Monday, January 29th. The financial services provider reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). First Midwest Bancorp had a return on equity of 7.69% and a net margin of 14.59%. The company had revenue of $154.24 million during the quarter, compared to analyst estimates of $162.84 million. During the same quarter last year, the firm posted $0.32 earnings per share. analysts predict that First Midwest Bancorp will post 1.73 earnings per share for the current year.

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.

Analyst Recommendations for First Midwest Bancorp (NASDAQ:FMBI)

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