First Midwest Bancorp, Inc. (FMBI) Position Held by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. continued to hold its position in shares of First Midwest Bancorp, Inc. (NASDAQ:FMBI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,200 shares of the financial services provider’s stock at the end of the second quarter. Icon Advisers Inc. Co.’s holdings in First Midwest Bancorp were worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of FMBI. Pacad Investment Ltd. boosted its holdings in First Midwest Bancorp by 41.9% in the 2nd quarter. Pacad Investment Ltd. now owns 4,400 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 1,300 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in First Midwest Bancorp by 40.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,200 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 1,800 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in First Midwest Bancorp by 13.6% in the 1st quarter. Victory Capital Management Inc. now owns 6,683 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 801 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in First Midwest Bancorp in the 1st quarter valued at about $177,000. Finally, Envestnet Asset Management Inc. boosted its holdings in First Midwest Bancorp by 1.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,560 shares of the financial services provider’s stock valued at $203,000 after purchasing an additional 136 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Several research firms have weighed in on FMBI. BidaskClub lowered shares of First Midwest Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $27.00 target price on shares of First Midwest Bancorp in a report on Friday, August 11th. Zacks Investment Research upgraded shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Piper Jaffray Companies upgraded shares of First Midwest Bancorp from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $25.00 to $26.00 in a report on Monday, July 24th. Finally, FIG Partners lowered shares of First Midwest Bancorp from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $26.00 to $25.00 in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $26.17.

First Midwest Bancorp, Inc. (FMBI) opened at 21.97 on Friday. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 18.84 and a beta of 1.15. First Midwest Bancorp, Inc. has a one year low of $18.75 and a one year high of $25.83. The stock has a 50 day moving average of $21.46 and a 200 day moving average of $22.80.

First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). First Midwest Bancorp had a return on equity of 7.81% and a net margin of 17.30%. The firm had revenue of $162.53 million for the quarter, compared to analysts’ expectations of $164.02 million. During the same quarter last year, the firm earned $0.32 earnings per share. Analysts forecast that First Midwest Bancorp, Inc. will post $1.30 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be issued a $0.10 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.82%. First Midwest Bancorp’s payout ratio is 34.19%.

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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.

Institutional Ownership by Quarter for First Midwest Bancorp (NASDAQ:FMBI)

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