First Midwest Bancorp Inc (NASDAQ:FMBI)’s stock price rose 8.9% during trading on Tuesday . The company traded as high as $12.98 and last traded at $12.75, approximately 687,068 shares traded hands during mid-day trading. An increase of 3% from the average daily volume of 665,977 shares. The stock had previously closed at $11.71.

FMBI has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of First Midwest Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. ValuEngine raised shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. BidaskClub cut shares of First Midwest Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, January 31st. Finally, SunTrust Banks cut shares of First Midwest Bancorp from a “buy” rating to a “hold” rating and dropped their target price for the company from $24.00 to $20.00 in a report on Friday, March 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $21.67.

The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $1.42 billion, a PE ratio of 7.04 and a beta of 1.23. The stock’s fifty day simple moving average is $17.92 and its 200-day simple moving average is $20.34.

First Midwest Bancorp (NASDAQ:FMBI) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.01. First Midwest Bancorp had a net margin of 23.08% and a return on equity of 9.41%. The company had revenue of $194.86 million during the quarter, compared to analysts’ expectations of $192.33 million. Analysts expect that First Midwest Bancorp Inc will post 1.6 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Friday, March 27th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, March 26th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.37%. First Midwest Bancorp’s dividend payout ratio (DPR) is 28.28%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. increased its stake in shares of First Midwest Bancorp by 18.2% during the 4th quarter. Macquarie Group Ltd. now owns 3,763,978 shares of the financial services provider’s stock worth $86,797,000 after purchasing an additional 579,403 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of First Midwest Bancorp by 8.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,611,005 shares of the financial services provider’s stock worth $60,210,000 after purchasing an additional 210,691 shares in the last quarter. Pzena Investment Management LLC increased its stake in shares of First Midwest Bancorp by 19.3% during the 4th quarter. Pzena Investment Management LLC now owns 1,847,219 shares of the financial services provider’s stock worth $42,597,000 after purchasing an additional 298,516 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of First Midwest Bancorp by 10.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,556,002 shares of the financial services provider’s stock worth $35,881,000 after purchasing an additional 141,907 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of First Midwest Bancorp by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 1,474,092 shares of the financial services provider’s stock worth $33,992,000 after purchasing an additional 79,617 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

About First Midwest Bancorp (NASDAQ:FMBI)

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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