First Midwest Bancorp (NASDAQ:FMBI) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

First Midwest Bancorp (NASDAQ:FMBI) posted its quarterly earnings results on Monday. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.14, Fidelity Earnings reports. First Midwest Bancorp had a return on equity of 6.02% and a net margin of 14.29%.

FMBI stock traded up $0.48 during midday trading on Thursday, reaching $17.47. The company had a trading volume of 649 shares, compared to its average volume of 966,080. First Midwest Bancorp has a 1 year low of $10.31 and a 1 year high of $21.48. The company has a market capitalization of $2.00 billion, a P/E ratio of 16.66 and a beta of 1.27. The firm has a 50-day moving average price of $16.56 and a 200-day moving average price of $13.67. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00.

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The business also recently declared a quarterly dividend, which was paid on Tuesday, January 12th. Shareholders of record on Friday, December 18th were paid a $0.14 dividend. The ex-dividend date was Thursday, December 17th. This represents a $0.56 dividend on an annualized basis and a yield of 3.21%. First Midwest Bancorp’s dividend payout ratio is presently 28.28%.

FMBI has been the subject of a number of analyst reports. Raymond James lifted their price objective on shares of First Midwest Bancorp from $15.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday. Janney Montgomery Scott lowered shares of First Midwest Bancorp from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 10th. Zacks Investment Research lowered shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 22nd. Finally, TheStreet raised shares of First Midwest Bancorp from a “c+” rating to a “b-” rating in a research report on Tuesday, December 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. First Midwest Bancorp currently has an average rating of “Hold” and a consensus price target of $15.30.

In other First Midwest Bancorp news, EVP Kevin P. Geoghegan purchased 1,631 shares of the firm’s stock in a transaction that occurred on Monday, December 7th. The stock was bought at an average cost of $15.33 per share, for a total transaction of $25,003.23. Following the purchase, the executive vice president now directly owns 9,603 shares in the company, valued at $147,213.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

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 and unsecured loans, as well as funding for the construction, purchase, refinance, or improvement of commercial real estate properties.

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