First Midwest Bancorp, Inc. (NASDAQ:FMBI) – Equities researchers at Piper Sandler boosted their Q3 2021 earnings per share estimates for First Midwest Bancorp in a research note issued to investors on Tuesday, July 20th. Piper Sandler analyst N. Race now anticipates that the financial services provider will post earnings per share of $0.43 for the quarter, up from their previous estimate of $0.40. Piper Sandler currently has a “Neutral” rating on the stock. Piper Sandler also issued estimates for First Midwest Bancorp’s Q4 2021 earnings at $0.43 EPS, FY2021 earnings at $1.69 EPS, Q2 2022 earnings at $0.40 EPS and Q4 2022 earnings at $0.40 EPS.
First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings data on Monday, July 19th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. First Midwest Bancorp had a net margin of 21.08% and a return on equity of 7.59%. During the same period last year, the firm posted $0.19 earnings per share.
FMBI stock opened at $18.14 on Thursday. The company has a market capitalization of $2.07 billion, a P/E ratio of 11.19 and a beta of 1.26. The company’s fifty day simple moving average is $20.20. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.97 and a quick ratio of 0.97. First Midwest Bancorp has a 52-week low of $10.38 and a 52-week high of $24.28.
Several large investors have recently made changes to their positions in the company. Busey Wealth Management grew its stake in First Midwest Bancorp by 4.4% during the first quarter. Busey Wealth Management now owns 15,799 shares of the financial services provider’s stock worth $346,000 after purchasing an additional 660 shares during the period. Guggenheim Capital LLC grew its holdings in First Midwest Bancorp by 4.1% in the fourth quarter. Guggenheim Capital LLC now owns 20,456 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 804 shares during the period. Oregon Public Employees Retirement Fund increased its stake in First Midwest Bancorp by 2.0% in the first quarter. Oregon Public Employees Retirement Fund now owns 46,981 shares of the financial services provider’s stock valued at $1,029,000 after purchasing an additional 900 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of First Midwest Bancorp by 7.2% during the first quarter. Mutual of America Capital Management LLC now owns 15,314 shares of the financial services provider’s stock valued at $336,000 after purchasing an additional 1,030 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of First Midwest Bancorp by 11.7% during the 1st quarter. AQR Capital Management LLC now owns 12,840 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 1,345 shares in the last quarter. 81.63% of the stock is currently owned by institutional investors.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 13th. Stockholders of record on Friday, June 25th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Thursday, June 24th. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 47.46%.
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 needs; 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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