Equities research analysts expect First Midwest Bancorp Inc (NASDAQ:FMBI) to post sales of $192.33 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for First Midwest Bancorp’s earnings, with the lowest sales estimate coming in at $190.80 million and the highest estimate coming in at $194.50 million. First Midwest Bancorp reported sales of $175.09 million in the same quarter last year, which indicates a positive year over year growth rate of 9.8%. The business is scheduled to report its next earnings report after the market closes on Tuesday, January 21st.
According to Zacks, analysts expect that First Midwest Bancorp will report full-year sales of $751.48 million for the current financial year, with estimates ranging from $747.30 million to $754.60 million. For the next fiscal year, analysts anticipate that the firm will report sales of $803.63 million, with estimates ranging from $790.30 million to $811.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover First Midwest Bancorp.
First Midwest Bancorp (NASDAQ:FMBI) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. First Midwest Bancorp had a net margin of 22.55% and a return on equity of 9.51%. The firm had revenue of $193.74 million for the quarter, compared to analyst estimates of $191.95 million. During the same period in the previous year, the business earned $0.46 EPS.
FMBI stock traded down $0.05 during midday trading on Wednesday, hitting $22.30. The company’s stock had a trading volume of 382,936 shares, compared to its average volume of 483,285. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.99 and a quick ratio of 0.99. First Midwest Bancorp has a twelve month low of $18.29 and a twelve month high of $23.68. The company’s fifty day moving average price is $22.61 and its 200 day moving average price is $20.79. The stock has a market capitalization of $2.46 billion, a P/E ratio of 11.40 and a beta of 1.29.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Friday, December 20th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $0.56 annualized dividend and a dividend yield of 2.51%. First Midwest Bancorp’s dividend payout ratio is presently 33.53%.
Institutional investors have recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc boosted its holdings in shares of First Midwest Bancorp by 47.3% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,725 shares of the financial services provider’s stock worth $56,000 after buying an additional 875 shares during the period. LPL Financial LLC boosted its holdings in shares of First Midwest Bancorp by 2.7% during the 2nd quarter. LPL Financial LLC now owns 36,039 shares of the financial services provider’s stock worth $738,000 after buying an additional 947 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of First Midwest Bancorp by 17.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,002 shares of the financial services provider’s stock worth $136,000 after buying an additional 1,026 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in First Midwest Bancorp by 3.7% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 33,140 shares of the financial services provider’s stock valued at $646,000 after purchasing an additional 1,180 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its holdings in First Midwest Bancorp by 1.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 97,758 shares of the financial services provider’s stock valued at $2,001,000 after purchasing an additional 1,269 shares during the period. Institutional investors own 82.31% of the company’s stock.
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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