First Midwest Bancorp (NASDAQ:FMBI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “FIRST MIDWEST BANCORP, INC. is a multi-bank holding company engaged in commercial banking, trust, investment management, insurance, mortgage origination and servicing activities. “

A number of other equities research analysts also recently commented on the stock. BidaskClub upgraded shares of Zumiez from a “sell” rating to a “hold” rating in a report on Saturday, June 22nd. FIG Partners reiterated an “outperform” rating on shares of Southern First Bancshares in a report on Thursday, May 16th. Finally, Raymond James downgraded shares of First Midwest Bancorp to a “hold” rating in a report on Monday. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $26.08.

FMBI traded up $0.07 during midday trading on Thursday, reaching $20.47. 523,700 shares of the company’s stock were exchanged, compared to its average volume of 537,558. The firm has a market cap of $2.19 billion, a PE ratio of 12.26, a PEG ratio of 1.53 and a beta of 1.24. First Midwest Bancorp has a 1-year low of $18.10 and a 1-year high of $27.70. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average price is $20.39.

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

In other news, Director Arsdell Stephen C. Van purchased 2,500 shares of the stock in a transaction dated 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 directly owns 16,500 shares in the company, valued at approximately $331,815. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in First Midwest Bancorp by 6.6% in the first quarter. BlackRock Inc. now owns 15,612,357 shares of the financial services provider’s stock valued at $319,430,000 after purchasing an additional 963,616 shares during the period. Dimensional Fund Advisors LP grew its holdings in First Midwest Bancorp by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,978,181 shares of the financial services provider’s stock valued at $138,238,000 after purchasing an additional 211,441 shares during the period. Macquarie Group Ltd. grew its holdings in First Midwest Bancorp by 0.9% in the fourth quarter. Macquarie Group Ltd. now owns 2,743,719 shares of the financial services provider’s stock valued at $54,353,000 after purchasing an additional 24,542 shares during the period. Northern Trust Corp grew its holdings in First Midwest Bancorp by 1.7% in the fourth quarter. Northern Trust Corp now owns 2,048,581 shares of the financial services provider’s stock valued at $40,582,000 after purchasing an additional 35,060 shares during the period. Finally, Pzena Investment Management LLC grew its holdings in First Midwest Bancorp by 2.0% in the first quarter. Pzena Investment Management LLC now owns 1,497,276 shares of the financial services provider’s stock valued at $30,634,000 after purchasing an additional 29,951 shares during the period. Institutional investors and hedge funds 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.

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