First Midwest Bancorp Inc (NASDAQ:FMBI) announced a quarterly dividend on Thursday, May 17th, RTT News reports. Stockholders of record on Friday, June 29th will be paid a dividend of 0.11 per share by the financial services provider on Tuesday, July 10th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Thursday, June 28th.
NASDAQ:FMBI opened at $25.47 on Friday. The stock has a market capitalization of $2.66 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 2.28 and a beta of 1.14. First Midwest Bancorp has a 1-year low of $20.50 and a 1-year high of $27.40. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.61.
First Midwest Bancorp (NASDAQ:FMBI) last released its quarterly earnings results on Tuesday, April 24th. The financial services provider reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.05). First Midwest Bancorp had a net margin of 16.08% and a return on equity of 7.59%. The firm had revenue of $154.08 million for the quarter, compared to analysts’ expectations of $160.44 million. During the same period in the previous year, the company posted $0.34 earnings per share. analysts predict that First Midwest Bancorp will post 1.62 earnings per share for the current fiscal year.
In other news, EVP Michael C. Spitler sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $24.68, for a total value of $246,800.00. Following the sale, the executive vice president now directly owns 26,174 shares in the company, valued at $645,974.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James P. Hotchkiss sold 3,900 shares of the stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $26.59, for a total value of $103,701.00. Following the transaction, the executive vice president now owns 64,519 shares in the company, valued at $1,715,560.21. The disclosure for this sale can be found here. Corporate insiders own 1.69% of the company’s stock.
A number of brokerages have recently commented on FMBI. Stephens cut shares of First Midwest Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Friday, June 8th. BidaskClub upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 22nd. ValuEngine downgraded First Midwest Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. UBS Group raised First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 28th. Finally, Raymond James raised First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 28th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $26.67.
About First Midwest Bancorp
First Midwest Bancorp, Inc operates as a 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 loans and lines of credit; 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 auto loans, as well as funding for the construction, purchase, refinance, or improvement of commercial real estate properties.
Receive News & Ratings for First Midwest Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Midwest Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.