First Midwest Bancorp, Inc. (NASDAQ: FMBI) is expected to post quarterly sales of $ 189.55 million
Equity research analysts expect First Midwest Bancorp, Inc. (NASDAQ: FMBI) to report sales of $ 189.55 million for the current fiscal quarter, Zacks investment research reports. Four analysts provided earnings estimates for First Midwest Bancorp, with the lowest sales estimate at $ 186.60 million and the highest estimate at $ 193.60 million. First Midwest Bancorp posted sales of $ 175.83 million in the same quarter last year, suggesting a positive year-over-year growth rate of 7.8%. The company is expected to release its next results on Tuesday, January 25.
Zacks says analysts expect First Midwest Bancorp to report annual revenue of $ 757.65 million for the current fiscal year, with estimates ranging from $ 749.80 million to $ 764.40 millions of dollars. For the next fiscal year, analysts predict the company will post sales of $ 750.60 million, with estimates ranging from $ 734.70 million to $ 766.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sales-side research analysts who follow First Midwest Bancorp.
First Midwest Bancorp (NASDAQ: FMBI) last released its results on Monday, October 18. The financial services provider reported earnings per share of $ 0.44 for the quarter, beating the consensus estimate of $ 0.42 by $ 0.02. The company posted revenue of $ 190.38 million for the quarter, compared to analysts’ estimates of $ 189.86 million. First Midwest Bancorp posted a return on equity of 8.33% and a net margin of 24.54%. During the same period last year, the company posted $ 0.33 in EPS.
FMBI has been the subject of several research reports. Keefe, Bruyette & Woods upgraded First Midwest Bancorp from a “market performance” rating to an “outperformance” rating and set a target price of $ 25.00 for the stock in a research report on Sunday 19 December. Zacks investment research downgraded First Midwest Bancorp from a “custody” rating to a “buy” rating and set a target price of $ 22.00 for the stock in a research report on Tuesday, December 21. Two analysts rated the stock with a conservation rating and three gave the stock a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $ 23.13.
Actions of FMBI opened for $ 20.14 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97, and a debt to equity ratio of 0.61. The company has a market cap of $ 2.30 billion, a P / E ratio of 13.08 and a beta of 1.13. The stock’s fifty-day simple moving average is $ 20.16 and its 200-day simple moving average is $ 19.32. First Midwest Bancorp has a twelve month low of $ 15.43 and a twelve month high of $ 24.28.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15. Shareholders of record on Monday, December 6 received a dividend of $ 0.14. This represents an annualized dividend of $ 0.56 and a return of 2.78%. The ex-dividend date was Friday December 3. First Midwest Bancorp’s dividend payout ratio (DPR) is currently 36.36%.
A number of large investors have recently increased or reduced their holdings in FMBI. Koshinski Asset Management Inc. purchased a new position in First Midwest Bancorp in the third quarter valued at approximately $ 68,000. Point72 Hong Kong Ltd. acquired a new equity interest in First Midwest Bancorp during the third quarter valued at approximately $ 117,000. Advisor Group Holdings Inc. increased its stake in the shares of First Midwest Bancorp by 378.5% during the third quarter. Advisor Group Holdings Inc. now owns 8,359 shares of the financial services provider valued at $ 159,000 after acquiring an additional 6,612 shares in the last quarter. CM Bidwell & Associates Ltd. increased its stake in the shares of First Midwest Bancorp by 11.3% during the second quarter. CM Bidwell & Associates Ltd. Now owns 8,970 shares of the financial services provider valued at $ 178,000 after acquiring an additional 910 shares in the last quarter. Finally, Vestor Capital LLC acquired a new equity interest in First Midwest Bancorp during the third quarter valued at approximately $ 180,000. 80.23% of the shares are currently held by institutional investors.
About First Midwest Bancorp
First Midwest Bancorp, Inc is a banking holding company providing commercial and retail banking services. It offers a full line of business, retail, cash management and wealth management products and services to commercial and industrial, agricultural, commercial real estate, municipal and consumer customers.
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