Fuller & Thaler Asset Management Inc. increased its holdings in First Midwest Bancorp Inc (NASDAQ:FMBI) by 24,024.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,543,962 shares of the financial services provider’s stock after purchasing an additional 1,537,562 shares during the period. Fuller & Thaler Asset Management Inc. owned approximately 1.50% of First Midwest Bancorp worth $36,160,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in First Midwest Bancorp by 13.1% during the second quarter. Vanguard Group Inc. now owns 8,957,728 shares of the financial services provider’s stock valued at $208,804,000 after acquiring an additional 1,037,378 shares during the last quarter. BlackRock Inc. increased its position in First Midwest Bancorp by 8.5% during the second quarter. BlackRock Inc. now owns 11,210,324 shares of the financial services provider’s stock valued at $261,312,000 after acquiring an additional 873,753 shares during the last quarter. State Street Corp increased its position in First Midwest Bancorp by 21.5% during the second quarter. State Street Corp now owns 3,645,798 shares of the financial services provider’s stock valued at $84,982,000 after acquiring an additional 644,968 shares during the last quarter. Northern Trust Corp increased its position in First Midwest Bancorp by 20.1% during the second quarter. Northern Trust Corp now owns 2,673,098 shares of the financial services provider’s stock valued at $62,310,000 after acquiring an additional 446,786 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in First Midwest Bancorp by 18.1% during the second quarter. Bank of New York Mellon Corp now owns 2,483,563 shares of the financial services provider’s stock valued at $57,890,000 after acquiring an additional 380,112 shares during the last quarter. Institutional investors own 81.42% of the company’s stock.
In other news, Director Patrick J. Mcdonnell sold 3,500 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $21.85, for a total transaction of $76,475.00. Following the transaction, the director now owns 24,237 shares in the company, valued at approximately $529,578.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.69% of the company’s stock.
A number of research firms have recently commented on FMBI. Jefferies Group restated a “buy” rating and issued a $27.00 price target on shares of First Midwest Bancorp in a report on Friday, August 11th. Zacks Investment Research lowered shares of First Midwest Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 15th. ValuEngine lowered shares of First Midwest Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Piper Jaffray Companies reiterated a “buy” rating and issued a $26.00 price target on shares of First Midwest Bancorp in a report on Wednesday, October 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $23.00 price objective on shares of First Midwest Bancorp in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $25.83.
Shares of First Midwest Bancorp Inc (NASDAQ:FMBI) traded up $0.14 during midday trading on Thursday, hitting $24.60. 521,869 shares of the stock were exchanged, compared to its average volume of 764,254. The firm has a market cap of $2,528.16, a PE ratio of 17.83, a price-to-earnings-growth ratio of 2.49 and a beta of 1.17. First Midwest Bancorp Inc has a twelve month low of $20.50 and a twelve month high of $25.86. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.48.
First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. First Midwest Bancorp had a net margin of 18.08% and a return on equity of 7.89%. The business had revenue of $163.24 million for the quarter, compared to analysts’ expectations of $164.81 million. During the same quarter last year, the company earned $0.32 EPS. equities analysts forecast that First Midwest Bancorp Inc will post 1.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 9th. Stockholders of record on Friday, December 22nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.63%. First Midwest Bancorp’s dividend payout ratio (DPR) is 33.61%.
First Midwest Bancorp Company Profile
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.
Receive News & Ratings for First Midwest Bancorp Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Midwest Bancorp Inc and related companies with MarketBeat.com's FREE daily email newsletter.