Analysts Expect First Midwest Bancorp Inc (NASDAQ:FMBI) to Announce $0.34 Earnings Per Share

Brokerages forecast that First Midwest Bancorp Inc (NASDAQ:FMBI) will report earnings per share (EPS) of $0.34 for the current quarter, Zacks reports. Three analysts have issued estimates for First Midwest Bancorp’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.40. First Midwest Bancorp posted earnings per share of $0.46 in the same quarter last year, which indicates a negative year over year growth rate of 26.1%. The company is expected to issue its next quarterly earnings results on Tuesday, April 28th.

According to Zacks, analysts expect that First Midwest Bancorp will report full year earnings of $1.56 per share for the current financial year, with EPS estimates ranging from $1.41 to $1.86. For the next fiscal year, analysts forecast that the company will post earnings of $1.69 per share, with EPS estimates ranging from $1.44 to $1.97. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover First Midwest Bancorp.

First Midwest Bancorp (NASDAQ:FMBI) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. First Midwest Bancorp had a net margin of 23.08% and a return on equity of 9.41%. The company had revenue of $194.86 million for the quarter, compared to analyst estimates of $192.33 million.

A number of research firms have issued reports on FMBI. SunTrust Banks lowered shares of First Midwest Bancorp from a “buy” rating to a “hold” rating and reduced their target price for the company from $24.00 to $20.00 in a report on Friday, March 6th. Zacks Investment Research lowered shares of First Midwest Bancorp from a “hold” rating to a “sell” rating in a report on Monday. ValuEngine upgraded shares of First Midwest Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, BidaskClub downgraded shares of First Midwest Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. First Midwest Bancorp currently has a consensus rating of “Hold” and an average target price of $21.67.

Institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in First Midwest Bancorp during the 4th quarter worth about $27,000. Tower Research Capital LLC TRC acquired a new stake in shares of First Midwest Bancorp in the 4th quarter valued at $52,000. Crossmark Global Holdings Inc. acquired a new stake in shares of First Midwest Bancorp in the 4th quarter valued at $207,000. Connable Office Inc. acquired a new stake in shares of First Midwest Bancorp in the 4th quarter valued at $208,000. Finally, Sciencast Management LP acquired a new stake in shares of First Midwest Bancorp in the 4th quarter valued at $209,000. Institutional investors own 84.88% of the company’s stock.

Shares of First Midwest Bancorp stock traded up $0.89 on Friday, hitting $13.70. The company’s 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 P/E ratio of 7.53 and a beta of 1.23. 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 firm has a fifty day moving average price of $17.76 and a 200-day moving average price of $20.31. First Midwest Bancorp has a 52-week low of $11.44 and a 52-week high of $23.64.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Friday, March 27th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend is Thursday, March 26th. First Midwest Bancorp’s dividend payout ratio (DPR) is currently 28.28%.

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

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