First Mercantile Trust Co. trimmed its position in First Midwest Bancorp Inc (NASDAQ:FMBI) by 26.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,733 shares of the financial services provider’s stock after selling 4,220 shares during the quarter. First Mercantile Trust Co.’s holdings in First Midwest Bancorp were worth $282,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FMBI. Fuller & Thaler Asset Management Inc. raised its holdings in shares of First Midwest Bancorp by 24,024.4% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,543,962 shares of the financial services provider’s stock valued at $36,160,000 after purchasing an additional 1,537,562 shares during the period. Vanguard Group Inc. raised its holdings in shares of First Midwest Bancorp by 13.1% in the 2nd quarter. Vanguard Group Inc. now owns 8,957,728 shares of the financial services provider’s stock valued at $208,804,000 after purchasing an additional 1,037,378 shares during the period. State Street Corp raised its holdings in shares of First Midwest Bancorp by 21.5% in the 2nd quarter. State Street Corp now owns 3,645,798 shares of the financial services provider’s stock valued at $84,982,000 after purchasing an additional 644,968 shares during the period. Peregrine Capital Management LLC bought a new stake in shares of First Midwest Bancorp in the 4th quarter valued at about $7,993,000. Finally, Highbridge Capital Management LLC raised its holdings in shares of First Midwest Bancorp by 98.0% in the 3rd quarter. Highbridge Capital Management LLC now owns 396,000 shares of the financial services provider’s stock valued at $9,274,000 after purchasing an additional 196,000 shares during the period. 80.41% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently issued reports on FMBI shares. BidaskClub raised shares of First Midwest Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, January 16th. Zacks Investment Research raised shares of First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Friday, January 12th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $29.00 target price on shares of First Midwest Bancorp in a report on Tuesday, January 9th. Jefferies Group reaffirmed a “buy” rating and issued a $28.00 target price on shares of First Midwest Bancorp in a report on Friday, December 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $23.00 target price on shares of First Midwest Bancorp in a report on Thursday, October 26th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. First Midwest Bancorp presently has an average rating of “Buy” and a consensus target price of $26.67.

First Midwest Bancorp Inc (FMBI) opened at $24.41 on Tuesday. The firm has a market cap of $2,480.61, a PE ratio of 17.25, a price-to-earnings-growth ratio of 2.00 and a beta of 1.18. The company has a quick ratio of 0.98, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. First Midwest Bancorp Inc has a fifty-two week low of $20.50 and a fifty-two week high of $26.48.

First Midwest Bancorp (NASDAQ:FMBI) last released its quarterly 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). The company had revenue of $154.24 million during the quarter, compared to the consensus estimate of $162.84 million. First Midwest Bancorp had a net margin of 14.59% and a return on equity of 7.69%. During the same period in the prior year, the company earned $0.32 earnings per share. equities research analysts anticipate that First Midwest Bancorp Inc will post 1.73 earnings per share for the current year.

In other First Midwest Bancorp news, Director Robert P. Omeara sold 50,000 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $24.56, for a total value of $1,228,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.69% of the stock is owned by corporate insiders.

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First Midwest Bancorp Profile

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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