First Midwest Bancorp (FMBI) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its position in First Midwest Bancorp (NASDAQ:FMBI) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,193 shares of the financial services provider’s stock after selling 2,100 shares during the period. Raymond James & Associates owned 0.05% of First Midwest Bancorp worth $1,253,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. CIBC Asset Management Inc raised its position in First Midwest Bancorp by 63.6% during the fourth quarter. CIBC Asset Management Inc now owns 14,074 shares of the financial services provider’s stock valued at $338,000 after purchasing an additional 5,471 shares during the period. Fox Run Management L.L.C. purchased a new stake in First Midwest Bancorp during the fourth quarter valued at approximately $375,000. Telemus Capital LLC purchased a new stake in First Midwest Bancorp during the fourth quarter valued at approximately $424,000. Guggenheim Capital LLC raised its position in First Midwest Bancorp by 17.7% during the fourth quarter. Guggenheim Capital LLC now owns 22,119 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 3,334 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its position in First Midwest Bancorp by 20.1% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 32,800 shares of the financial services provider’s stock valued at $788,000 after purchasing an additional 5,500 shares during the period. Institutional investors own 83.68% of the company’s stock.

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In other news, Director Robert P. Omeara sold 5,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $26.50, for a total transaction of $137,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert P. Omeara sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $26.50, for a total value of $132,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,382 shares of company stock worth $2,388,662. Insiders own 1.69% of the company’s stock.

A number of equities research analysts have issued reports on FMBI shares. Sandler O’Neill set a $26.00 price objective on First Midwest Bancorp and gave the company a “hold” rating in a research report on Wednesday, January 3rd. Piper Jaffray restated a “buy” rating and set a $29.00 price objective on shares of First Midwest Bancorp in a research report on Tuesday, January 9th. Zacks Investment Research upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research report on Friday, January 12th. BidaskClub upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. Finally, UBS upgraded First Midwest Bancorp from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 28th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $26.67.

FMBI opened at $24.49 on Thursday. The company has a market cap of $2,574.55, a PE ratio of 18.15, a price-to-earnings-growth ratio of 2.09 and a beta of 1.12. First Midwest Bancorp has a one year low of $20.50 and a one year high of $26.55. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49.

First Midwest Bancorp (NASDAQ:FMBI) last released its earnings results on Monday, January 29th. The financial services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The business had revenue of $154.24 million for the quarter, compared to the consensus estimate of $162.84 million. First Midwest Bancorp had a net margin of 14.59% and a return on equity of 7.69%. During the same period in the prior year, the company posted $0.32 EPS. equities research analysts predict that First Midwest Bancorp will post 1.71 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 10th. Stockholders of record on Friday, March 23rd were paid a dividend of $0.11 per share. This is a boost from First Midwest Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, March 22nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.80%. First Midwest Bancorp’s dividend payout ratio is currently 32.59%.

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About First Midwest Bancorp

First Midwest Bancorp, Inc operates as a 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 and lines of credit; 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 auto loans, as well as funding for the construction, purchase, refinance, or improvement of commercial real estate properties.

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Institutional Ownership by Quarter for First Midwest Bancorp (NASDAQ:FMBI)

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