First Trust Advisors LP Has $3.86 Million Stake in First Midwest Bancorp, Inc. (FMBI)

First Trust Advisors LP decreased its position in First Midwest Bancorp, Inc. (NASDAQ:FMBI) by 31.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,704 shares of the financial services provider’s stock after selling 76,791 shares during the period. First Trust Advisors LP owned 0.16% of First Midwest Bancorp worth $3,857,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. MPS Loria Financial Planners LLC purchased a new stake in shares of First Midwest Bancorp in the 2nd quarter valued at approximately $235,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of First Midwest Bancorp in the 2nd quarter worth approximately $213,000. Verition Fund Management LLC acquired a new position in shares of First Midwest Bancorp in the 2nd quarter worth approximately $271,000. Piedmont Investment Advisors LLC acquired a new position in shares of First Midwest Bancorp in the 2nd quarter worth approximately $409,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of First Midwest Bancorp by 194.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 21,977 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 14,505 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

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Several equities analysts have recently commented on FMBI shares. 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 upped their price objective for the stock from $25.00 to $26.00 in a report on Monday, July 24th. ValuEngine lowered shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Keefe, Bruyette & Woods restated a “hold” rating and issued a $23.00 price objective on shares of First Midwest Bancorp in a report on Thursday, October 26th. Finally, FIG Partners lowered shares of First Midwest Bancorp from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $26.00 to $25.00 in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. First Midwest Bancorp currently has an average rating of “Hold” and an average target price of $25.83.

In other First Midwest Bancorp news, Director Patrick J. Mcdonnell sold 3,500 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $21.85, for a total transaction of $76,475.00. Following the sale, the director now directly owns 24,237 shares in the company, valued at approximately $529,578.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.69% of the stock is owned by corporate insiders.

Shares of First Midwest Bancorp, Inc. (NASDAQ:FMBI) opened at $23.47 on Friday. The stock has a market cap of $2,411.05, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 2.38 and a beta of 1.15. First Midwest Bancorp, Inc. has a fifty-two week low of $20.50 and a fifty-two week high of $25.83. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48.

First Midwest Bancorp (NASDAQ:FMBI) last released its earnings results on Tuesday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. The company had revenue of $163.24 million for the quarter, compared to analyst estimates of $164.81 million. First Midwest Bancorp had a net margin of 18.08% and a return on equity of 7.89%. During the same period in the prior year, the business earned $0.32 EPS. equities analysts predict that First Midwest Bancorp, Inc. will post 1.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 9th. Shareholders of record on Friday, December 22nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.70%. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 33.61%.

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

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