Lantz Financial LLC cut its position in First Midwest Bancorp Inc (NASDAQ:FMBI) by 33.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,901 shares of the financial services provider’s stock after selling 9,090 shares during the period. Lantz Financial LLC’s holdings in First Midwest Bancorp were worth $413,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp grew its stake in shares of First Midwest Bancorp by 15.6% in the third quarter. Stifel Financial Corp now owns 145,430 shares of the financial services provider’s stock valued at $2,833,000 after buying an additional 19,643 shares in the last quarter. Rhumbline Advisers grew its stake in shares of First Midwest Bancorp by 5.1% in the third quarter. Rhumbline Advisers now owns 361,537 shares of the financial services provider’s stock valued at $7,043,000 after buying an additional 17,635 shares in the last quarter. State of Tennessee Treasury Department grew its stake in First Midwest Bancorp by 43.2% during the 3rd quarter. State of Tennessee Treasury Department now owns 96,120 shares of the financial services provider’s stock worth $1,872,000 after purchasing an additional 29,018 shares in the last quarter. Marshall Wace LLP acquired a new position in First Midwest Bancorp during the 2nd quarter worth $3,789,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in First Midwest Bancorp during the 3rd quarter worth $4,858,000. 82.31% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on FMBI shares. Zacks Investment Research cut First Midwest Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, January 6th. BidaskClub cut First Midwest Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine raised First Midwest Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Stephens raised First Midwest Bancorp from an “equal” rating to an “overweight” rating and boosted their target price for the stock from $21.00 to $23.00 in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $23.67.
FMBI traded down $0.06 on Friday, hitting $22.29. 10,409 shares of the company were exchanged, compared to its average volume of 475,827. First Midwest Bancorp Inc has a twelve month low of $18.29 and a twelve month high of $23.68. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 13.34 and a beta of 1.29. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average price of $22.60 and a two-hundred day moving average price of $20.78.
First Midwest Bancorp (NASDAQ:FMBI) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. First Midwest Bancorp had a return on equity of 9.51% and a net margin of 22.55%. The firm had revenue of $193.74 million during the quarter, compared to analysts’ expectations of $191.95 million. During the same period in the previous year, the firm posted $0.46 EPS. Equities analysts expect that First Midwest Bancorp Inc will post 1.98 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Friday, December 20th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, December 19th. This represents a $0.56 annualized dividend and a yield of 2.51%. First Midwest Bancorp’s payout ratio is 33.53%.
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 loans; 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 loans, as well as funding for the construction, purchase, refinance, or improvement of commercial real estate properties.
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