Raymond James lowered shares of First Midwest Bancorp (NASDAQ:FMBI) to a hold rating in a report issued on Monday morning, Stock Target Advisor reports.

Several other equities research analysts also recently issued reports on FMBI. FIG Partners restated an outperform rating on shares of Southern First Bancshares in a report on Thursday, May 16th. BidaskClub upgraded Zumiez from a sell rating to a hold rating in a report on Saturday, June 22nd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. First Midwest Bancorp currently has an average rating of Hold and an average price target of $26.08.

Shares of First Midwest Bancorp stock opened at $20.47 on Monday. First Midwest Bancorp has a 1 year low of $18.10 and a 1 year high of $27.70. The stock has a 50-day simple moving average of $20.39. The company has a market capitalization of $2.19 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.53 and a beta of 1.24. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.55.

First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. First Midwest Bancorp had a return on equity of 9.33% and a net margin of 22.44%. The company had revenue of $175.04 million during the quarter, compared to the consensus estimate of $175.47 million. During the same period in the prior year, the company earned $0.33 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities research analysts expect that First Midwest Bancorp will post 1.95 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Friday, June 28th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, June 27th. This is an increase from First Midwest Bancorp’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.74%. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 33.53%.

In other news, Director Arsdell Stephen C. Van acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was acquired at an average cost of $20.11 per share, for a total transaction of $50,275.00. Following the completion of the acquisition, the director now owns 16,500 shares in the company, valued at $331,815. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Boston Partners grew its stake in First Midwest Bancorp by 13.6% in the first quarter. Boston Partners now owns 1,009,815 shares of the financial services provider’s stock valued at $20,661,000 after purchasing an additional 120,807 shares in the last quarter. Legal & General Group Plc grew its stake in First Midwest Bancorp by 4.9% in the fourth quarter. Legal & General Group Plc now owns 251,600 shares of the financial services provider’s stock valued at $4,979,000 after purchasing an additional 11,829 shares in the last quarter. Geode Capital Management LLC grew its stake in First Midwest Bancorp by 11.1% in the fourth quarter. Geode Capital Management LLC now owns 1,197,710 shares of the financial services provider’s stock valued at $23,726,000 after purchasing an additional 119,855 shares in the last quarter. Martingale Asset Management L P grew its stake in First Midwest Bancorp by 5.9% in the fourth quarter. Martingale Asset Management L P now owns 82,145 shares of the financial services provider’s stock valued at $1,628,000 after purchasing an additional 4,583 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in First Midwest Bancorp in the fourth quarter valued at approximately $1,122,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.

About First Midwest Bancorp

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 loans; 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 loans, as well as funding for the construction, purchase, refinance, or improvement of commercial real estate properties.

Recommended Story: How interest rates affect municipal bond prices

Analyst Recommendations for First Midwest Bancorp (NASDAQ:FMBI)

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.