Brokerages expect First Midwest Bancorp Inc (NASDAQ:FMBI) to announce earnings of $0.49 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for First Midwest Bancorp’s earnings, with the lowest EPS estimate coming in at $0.48 and the highest estimate coming in at $0.50. First Midwest Bancorp reported earnings of $0.46 per share in the same quarter last year, which indicates a positive year over year growth rate of 6.5%. The business is scheduled to issue its next earnings results after the market closes on Tuesday, October 22nd.

According to Zacks, analysts expect that First Midwest Bancorp will report full-year earnings of $1.95 per share for the current financial year, with EPS estimates ranging from $1.91 to $1.98. For the next year, analysts forecast that the company will post earnings of $2.03 per share, with EPS estimates ranging from $1.98 to $2.08. Zacks’ EPS averages are an average based on a survey of analysts that cover First Midwest Bancorp.

First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. The firm had revenue of $190.02 million for the quarter, compared to analyst estimates of $187.13 million. First Midwest Bancorp had a return on equity of 9.51% and a net margin of 23.58%. The company’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 EPS.

Several brokerages have recently commented on FMBI. Stephens upgraded First Midwest Bancorp from an “equal” rating to an “overweight” rating and increased their price objective for the company from $21.00 to $23.00 in a research report on Tuesday, October 8th. ValuEngine upgraded First Midwest Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub lowered First Midwest Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 8th. Raymond James lowered First Midwest Bancorp to a “hold” rating in a research report on Monday, July 8th. Finally, Zacks Investment Research upgraded First Midwest Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $23.80.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Teza Capital Management LLC bought a new position in First Midwest Bancorp during the 2nd quarter worth approximately $252,000. AdvisorNet Financial Inc bought a new position in First Midwest Bancorp during the 2nd quarter worth approximately $31,000. Prudential Financial Inc. grew its position in First Midwest Bancorp by 18.4% during the 2nd quarter. Prudential Financial Inc. now owns 597,565 shares of the financial services provider’s stock worth $12,232,000 after acquiring an additional 93,060 shares during the last quarter. Pearl River Capital LLC bought a new position in First Midwest Bancorp during the 2nd quarter worth approximately $88,000. Finally, Ausdal Financial Partners Inc. grew its position in First Midwest Bancorp by 5.0% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 26,610 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 1,269 shares during the last quarter. Institutional investors and hedge funds own 82.33% of the company’s stock.

Shares of First Midwest Bancorp stock traded up $0.16 during trading on Monday, hitting $20.02. 427,935 shares of the stock traded hands, compared to its average volume of 540,965. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.71. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 11.99 and a beta of 1.26. The firm’s fifty day moving average is $19.44 and its 200-day moving average is $20.20. First Midwest Bancorp has a 52 week low of $18.10 and a 52 week high of $24.88.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Friday, September 27th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, September 26th. This represents a $0.56 annualized dividend and a yield of 2.80%. First Midwest Bancorp’s payout ratio is 33.53%.

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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Earnings History and Estimates for First Midwest Bancorp (NASDAQ:FMBI)

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