First Midwest Bancorp Inc (FMBI) Director Buys $50,275.00 in Stock

First Midwest Bancorp Inc (NASDAQ:FMBI) Director Arsdell Stephen C. Van acquired 2,500 shares of the company’s stock in a transaction 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 purchase, the director now directly owns 16,500 shares of the company’s stock, valued at approximately $331,815. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

First Midwest Bancorp stock opened at $20.69 on Wednesday. First Midwest Bancorp Inc has a 1-year low of $18.10 and a 1-year high of $27.70. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.48 and a beta of 1.25. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.97 and a current ratio of 0.97.

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

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Friday, June 28th will be given a dividend of $0.14 per share. This is a positive change 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 2.71%. The ex-dividend date is Thursday, June 27th. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 28.74%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank bought a new position in shares of First Midwest Bancorp during the fourth quarter valued at about $25,000. NumerixS Investment Technologies Inc lifted its position in shares of First Midwest Bancorp by 100.0% during the first quarter. NumerixS Investment Technologies Inc now owns 1,850 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 925 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of First Midwest Bancorp during the fourth quarter valued at about $99,000. Fifth Third Bancorp bought a new position in shares of First Midwest Bancorp during the first quarter valued at about $103,000. Finally, Quantamental Technologies LLC bought a new position in shares of First Midwest Bancorp during the fourth quarter valued at about $139,000. 82.25% of the stock is currently owned by institutional investors.

A number of research firms have weighed in on FMBI. FIG Partners raised shares of First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 16th. BidaskClub raised shares of First Midwest Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, March 29th. Finally, Piper Jaffray Companies set a $26.00 price objective on shares of First Midwest Bancorp and gave the company a “buy” rating in a research note on Friday, January 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $26.08.

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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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