First Midwest Bancorp, Inc. (NASDAQ:FMBI) Expected to Post Earnings of $0.37 Per Share

Analysts expect that First Midwest Bancorp, Inc. (NASDAQ:FMBI) will post $0.37 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have provided estimates for First Midwest Bancorp’s earnings. The lowest EPS estimate is $0.35 and the highest is $0.40. First Midwest Bancorp posted earnings of $0.19 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 94.7%. The business is expected to report its next earnings report on Tuesday, July 20th.

On average, analysts expect that First Midwest Bancorp will report full-year earnings of $1.50 per share for the current financial year, with EPS estimates ranging from $1.47 to $1.56. For the next financial year, analysts forecast that the business will post earnings of $1.47 per share, with EPS estimates ranging from $1.38 to $1.56. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover First Midwest Bancorp.

First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings results on Monday, April 19th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.37. First Midwest Bancorp had a return on equity of 6.41% and a net margin of 17.11%. The business had revenue of $186.92 million during the quarter, compared to the consensus estimate of $190.48 million. During the same quarter in the prior year, the company posted $0.22 earnings per share.

FMBI has been the topic of a number of recent analyst reports. Stephens reissued an “equal weight” rating and set a $22.00 price target on shares of First Midwest Bancorp in a research report on Wednesday, April 21st. Piper Sandler cut shares of First Midwest Bancorp from an “overweight” rating to a “neutral” rating in a research report on Tuesday, June 1st. Raymond James restated a “market perform” rating on shares of First Midwest Bancorp in a research note on Wednesday, June 2nd. Finally, Zacks Investment Research downgraded First Midwest Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, June 2nd. Five equities research analysts have rated the stock with a hold rating, First Midwest Bancorp presently has an average rating of “Hold” and a consensus target price of $19.30.

FMBI traded up $0.14 during mid-day trading on Friday, reaching $20.85. 4,628 shares of the stock were exchanged, compared to its average volume of 811,558. First Midwest Bancorp has a 1 year low of $10.38 and a 1 year high of $24.28. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $2.38 billion, a PE ratio of 19.67 and a beta of 1.27. The business has a 50 day moving average of $21.27.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 13th. Shareholders of record on Friday, June 25th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Thursday, June 24th. First Midwest Bancorp’s dividend payout ratio is 47.46%.

Institutional investors have recently added to or reduced their stakes in the company. Pzena Investment Management LLC increased its stake in shares of First Midwest Bancorp by 25.2% during the 4th quarter. Pzena Investment Management LLC now owns 2,642,756 shares of the financial services provider’s stock worth $42,073,000 after purchasing an additional 531,909 shares during the last quarter. Snow Capital Management LP raised its stake in shares of First Midwest Bancorp by 227.9% in the first quarter. Snow Capital Management LP now owns 117,135 shares of the financial services provider’s stock valued at $2,566,000 after buying an additional 81,414 shares during the period. California Public Employees Retirement System lifted its position in shares of First Midwest Bancorp by 29.4% during the 4th quarter. California Public Employees Retirement System now owns 353,159 shares of the financial services provider’s stock valued at $5,622,000 after buying an additional 80,209 shares during the last quarter. Citigroup Inc. grew its stake in shares of First Midwest Bancorp by 10.8% during the 4th quarter. Citigroup Inc. now owns 32,654 shares of the financial services provider’s stock worth $520,000 after acquiring an additional 3,171 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in First Midwest Bancorp by 52.2% in the 4th quarter. Renaissance Technologies LLC now owns 107,071 shares of the financial services provider’s stock worth $1,705,000 after acquiring an additional 36,700 shares during the last quarter. 81.71% of the stock is owned by hedge funds and other institutional investors.

First Midwest Bancorp Company Profile

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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Earnings History and Estimates for First Midwest Bancorp (NASDAQ:FMBI)

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