Analysts Expect First Midwest Bancorp, Inc. (NASDAQ:FMBI) Will Post Earnings of $0.37 Per Share

Wall Street analysts forecast that First Midwest Bancorp, Inc. (NASDAQ:FMBI) will post earnings per share (EPS) of $0.37 for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for First Midwest Bancorp’s earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.35. First Midwest Bancorp posted earnings of $0.19 per share during the same quarter last year, which would indicate a positive year over year growth rate of 94.7%. The business is scheduled to issue its next quarterly earnings results on Tuesday, July 20th.

According to Zacks, analysts expect that First Midwest Bancorp will report full-year earnings of $1.50 per share for the current fiscal year, with EPS estimates ranging from $1.47 to $1.56. For the next year, analysts expect that the business will post earnings of $1.47 per share, with EPS estimates ranging from $1.38 to $1.56. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover First Midwest Bancorp.

First Midwest Bancorp (NASDAQ:FMBI) last posted its quarterly earnings data on Monday, April 19th. The financial services provider reported $0.37 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.37. First Midwest Bancorp had a return on equity of 6.41% and a net margin of 17.11%. The company had revenue of $186.92 million during the quarter, compared to analyst estimates of $190.48 million. During the same quarter last year, the company earned $0.22 EPS.

Several brokerages have issued reports on FMBI. Raymond James reissued a “market perform” rating on shares of First Midwest Bancorp in a research report on Wednesday, June 2nd. Stephens restated an “equal weight” rating and set a $22.00 target price on shares of First Midwest Bancorp in a research report on Wednesday, April 21st. Piper Sandler cut shares of First Midwest Bancorp from an “overweight” rating to a “neutral” rating in a research note on Tuesday, June 1st. Finally, Zacks Investment Research cut First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, June 2nd. Five analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus price target of $19.30.

Hedge funds have recently added to or reduced their stakes in the company. Vantage Consulting Group Inc bought a new stake in First Midwest Bancorp in the 4th quarter valued at $30,000. Captrust Financial Advisors lifted its position in shares of First Midwest Bancorp by 297.4% in the fourth quarter. Captrust Financial Advisors now owns 2,007 shares of the financial services provider’s stock worth $32,000 after buying an additional 1,502 shares in the last quarter. Berman Capital Advisors LLC boosted its stake in First Midwest Bancorp by 484.9% during the first quarter. Berman Capital Advisors LLC now owns 1,626 shares of the financial services provider’s stock valued at $35,000 after buying an additional 1,348 shares during the last quarter. Toronto Dominion Bank purchased a new position in First Midwest Bancorp during the 4th quarter valued at approximately $41,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of First Midwest Bancorp during the 1st quarter worth approximately $63,000. 81.71% of the stock is currently owned by hedge funds and other institutional investors.

First Midwest Bancorp stock traded up $0.14 during trading hours on Friday, hitting $20.85. The stock had a trading volume of 4,628 shares, compared to its average volume of 811,558. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.97 and a quick ratio of 0.97. First Midwest Bancorp has a 12-month low of $10.38 and a 12-month high of $24.28. The company has a market cap of $2.38 billion, a PE ratio of 19.67 and a beta of 1.27. The stock has a 50-day simple moving average of $21.27.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 13th. Shareholders of record on Friday, June 25th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Thursday, June 24th. First Midwest Bancorp’s dividend payout ratio (DPR) is currently 47.46%.

First Midwest Bancorp Company Profile

First Midwest Bancorp, Inc operates as the bank holding company for First Midwest Bank that provides various banking products and services. The company accepts checking, NOW, money market, and savings accounts, as well as various types of short-term and long-term certificates of deposit. Its loan products include working capital needs; accounts receivable financing; inventory and equipment financing; sector-based lending, including healthcare, asset-based lending, structured finance, and syndications; agricultural loans; and mortgages, home equity lines and loans, personal loans, specialty loans, and consumer secured and unsecured loans, as well as funding for the construction, purchase, refinance, or improvement of commercial real estate properties.

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Earnings History and Estimates for First Midwest Bancorp (NASDAQ:FMBI)

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