Dalton Greiner Hartman Maher & Co. decreased its position in First Midwest Bancorp Inc (NASDAQ:FMBI) by 10.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 736,659 shares of the financial services provider’s stock after selling 88,710 shares during the period. Dalton Greiner Hartman Maher & Co.’s holdings in First Midwest Bancorp were worth $17,687,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of FMBI. Pacad Investment Ltd. lifted its stake in First Midwest Bancorp by 41.9% in the second quarter. Pacad Investment Ltd. now owns 4,400 shares of the financial services provider’s stock valued at $103,000 after buying an additional 1,300 shares during the period. Zions Bancorporation acquired a new position in First Midwest Bancorp in the third quarter valued at about $112,000. Quantbot Technologies LP acquired a new position in First Midwest Bancorp in the third quarter valued at about $118,000. Riverhead Capital Management LLC lifted its stake in First Midwest Bancorp by 40.9% in the second quarter. Riverhead Capital Management LLC now owns 6,200 shares of the financial services provider’s stock valued at $145,000 after buying an additional 1,800 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in First Midwest Bancorp by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,862 shares of the financial services provider’s stock valued at $183,000 after buying an additional 1,179 shares during the period. Institutional investors and hedge funds own 81.33% of the company’s stock.
Several research firms have weighed in on FMBI. Piper Jaffray Companies reissued a “buy” rating and issued a $29.00 target price on shares of First Midwest Bancorp in a research note on Tuesday. Sandler O’Neill set a $26.00 target price on First Midwest Bancorp and gave the company a “hold” rating in a research note on Wednesday, January 3rd. Jefferies Group reissued a “buy” rating and issued a $28.00 target price on shares of First Midwest Bancorp in a research note on Friday, December 8th. Zacks Investment Research raised First Midwest Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $23.00 target price on shares of First Midwest Bancorp in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $26.17.
First Midwest Bancorp (NASDAQ:FMBI) last released its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. The company had revenue of $163.24 million for the quarter, compared to analyst estimates of $164.81 million. First Midwest Bancorp had a return on equity of 7.89% and a net margin of 18.08%. During the same quarter last year, the firm posted $0.32 earnings per share. research analysts forecast that First Midwest Bancorp Inc will post 1.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 9th. Stockholders of record on Friday, December 22nd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Thursday, December 21st. First Midwest Bancorp’s dividend payout ratio is currently 33.61%.
In other news, Director Robert P. Omeara sold 50,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $24.56, for a total transaction of $1,228,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.69% of the company’s stock.
About First Midwest Bancorp
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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