First Midwest Bancorp, Inc. (FMBI) Stake Decreased by US Bancorp DE

US Bancorp DE decreased its stake in First Midwest Bancorp, Inc. (NASDAQ:FMBI) by 3.1% during the second quarter, Holdings Channel reports. The firm owned 39,300 shares of the financial services provider’s stock after selling 1,265 shares during the period. US Bancorp DE’s holdings in First Midwest Bancorp were worth $916,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FMBI. Norges Bank purchased a new stake in First Midwest Bancorp during the fourth quarter valued at about $19,012,000. Quadrature Capital Ltd purchased a new stake in First Midwest Bancorp during the fourth quarter valued at about $278,000. Teachers Advisors LLC boosted its stake in First Midwest Bancorp by 2.1% in the fourth quarter. Teachers Advisors LLC now owns 852,375 shares of the financial services provider’s stock valued at $21,505,000 after buying an additional 17,355 shares during the period. Fox Run Management L.L.C. purchased a new stake in First Midwest Bancorp during the first quarter valued at about $230,000. Finally, Louisiana State Employees Retirement System boosted its stake in First Midwest Bancorp by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 33,000 shares of the financial services provider’s stock valued at $781,000 after buying an additional 300 shares during the period. 80.31% of the stock is owned by institutional investors and hedge funds.

Shares of First Midwest Bancorp, Inc. (NASDAQ FMBI) traded down 2.33% during midday trading on Thursday, reaching $21.37. 342,085 shares of the company traded hands. First Midwest Bancorp, Inc. has a 12 month low of $18.65 and a 12 month high of $25.83. The firm has a market capitalization of $2.20 billion, a P/E ratio of 18.33 and a beta of 1.14. The company has a 50 day moving average of $22.96 and a 200 day moving average of $23.39.

First Midwest Bancorp (NASDAQ:FMBI) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.01. First Midwest Bancorp had a net margin of 17.30% and a return on equity of 7.81%. The company had revenue of $162.53 million for the quarter, compared to the consensus estimate of $164.02 million. During the same quarter last year, the company earned $0.32 earnings per share. On average, equities research analysts predict that First Midwest Bancorp, Inc. will post $1.30 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 11th. Shareholders of record on Friday, June 30th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.83%. This is an increase from First Midwest Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Wednesday, June 28th. First Midwest Bancorp’s dividend payout ratio is 34.19%.

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Several equities research analysts have recently issued reports on FMBI shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $25.00 price objective on shares of First Midwest Bancorp in a research report on Wednesday, April 12th. Zacks Investment Research cut shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. FIG Partners raised shares of First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a research report on Friday, May 19th. BidaskClub raised shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $27.00 price objective on shares of First Midwest Bancorp in a research report on Sunday, June 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. First Midwest Bancorp currently has a consensus rating of “Hold” and a consensus target price of $26.17.

In related news, Director Thomas Lynn Brown acquired 3,000 shares of First Midwest Bancorp stock in a transaction on Tuesday, June 13th. The shares were purchased at an average cost of $24.06 per share, for a total transaction of $72,180.00. Following the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $72,180. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.69% of the company’s stock.

First Midwest Bancorp Company 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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