Equities research analysts expect that First Midwest Bancorp Inc (NASDAQ:FMBI) will post sales of $182.60 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for First Midwest Bancorp’s earnings, with the highest sales estimate coming in at $183.80 million and the lowest estimate coming in at $181.20 million. First Midwest Bancorp posted sales of $173.93 million during the same quarter last year, which would indicate a positive year over year growth rate of 5%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, April 28th.
On average, analysts expect that First Midwest Bancorp will report full-year sales of $742.77 million for the current financial year, with estimates ranging from $739.30 million to $747.10 million. For the next financial year, analysts forecast that the business will post sales of $763.63 million, with estimates ranging from $758.20 million to $771.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow First Midwest Bancorp.
First Midwest Bancorp (NASDAQ:FMBI) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The firm had revenue of $194.86 million for the quarter, compared to the consensus estimate of $192.33 million. First Midwest Bancorp had a return on equity of 9.41% and a net margin of 23.08%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stifel Financial Corp raised its holdings in First Midwest Bancorp by 15.6% during the third quarter. Stifel Financial Corp now owns 145,430 shares of the financial services provider’s stock worth $2,833,000 after acquiring an additional 19,643 shares in the last quarter. Sciencast Management LP purchased a new stake in shares of First Midwest Bancorp during the fourth quarter valued at $209,000. Tower Research Capital LLC TRC purchased a new stake in shares of First Midwest Bancorp during the fourth quarter valued at $52,000. Hennessy Advisors Inc. lifted its holdings in shares of First Midwest Bancorp by 21.2% during the fourth quarter. Hennessy Advisors Inc. now owns 200,000 shares of the financial services provider’s stock valued at $4,612,000 after purchasing an additional 35,000 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of First Midwest Bancorp by 6.8% during the fourth quarter. Rhumbline Advisers now owns 386,171 shares of the financial services provider’s stock valued at $8,905,000 after purchasing an additional 24,634 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ FMBI traded up $0.89 during midday trading on Monday, hitting $13.70. The stock had a trading volume of 816,000 shares, compared to its average volume of 677,408. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 7.53 and a beta of 1.23. First Midwest Bancorp has a 1-year low of $11.44 and a 1-year high of $23.64. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.80. The company has a fifty day moving average price of $17.76 and a 200 day moving average price of $20.31.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Investors of record on Friday, March 27th will be given a $0.14 dividend. The ex-dividend date is Thursday, March 26th. This represents a $0.56 annualized dividend and a yield of 4.09%. First Midwest Bancorp’s payout ratio is 28.28%.
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 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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