First Midwest Bancorp, Inc. (FMBI) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC lifted its holdings in shares of First Midwest Bancorp, Inc. (NASDAQ:FMBI) by 0.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 13,459 shares of the financial services provider’s stock after acquiring an additional 36 shares during the period. ProShare Advisors LLC’s holdings in First Midwest Bancorp were worth $314,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FMBI. Pacad Investment Ltd. grew its stake in shares of First Midwest Bancorp by 41.9% during the second quarter. Pacad Investment Ltd. now owns 4,400 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 1,300 shares during the last quarter. Riverhead Capital Management LLC grew its stake in shares of First Midwest Bancorp by 40.9% during the second quarter. Riverhead Capital Management LLC now owns 6,200 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 1,800 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of First Midwest Bancorp by 13.6% during the first quarter. Victory Capital Management Inc. now owns 6,683 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 801 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of First Midwest Bancorp during the first quarter worth about $177,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of First Midwest Bancorp by 1.6% during the first quarter. Envestnet Asset Management Inc. now owns 8,560 shares of the financial services provider’s stock worth $203,000 after acquiring an additional 136 shares during the last quarter. Institutional investors and hedge funds own 80.94% of the company’s stock.

Shares of First Midwest Bancorp, Inc. (NASDAQ:FMBI) opened at 23.55 on Wednesday. First Midwest Bancorp, Inc. has a 12-month low of $18.75 and a 12-month high of $25.83. The company’s 50 day moving average price is $22.16 and its 200-day moving average price is $22.66. The firm has a market cap of $2.42 billion, a P/E ratio of 20.20 and a beta of 1.16.

First Midwest Bancorp (NASDAQ:FMBI) last released its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The firm had revenue of $162.53 million for the quarter, compared to analysts’ expectations of $164.02 million. First Midwest Bancorp had a return on equity of 7.81% and a net margin of 17.30%. During the same quarter in the prior year, the business earned $0.32 EPS. On average, equities research analysts anticipate that First Midwest Bancorp, Inc. will post $1.30 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 29th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.70%. First Midwest Bancorp’s dividend payout ratio is presently 34.19%.

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In related news, Director Patrick J. Mcdonnell sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $21.85, for a total transaction of $76,475.00. Following the transaction, the director now owns 24,237 shares in the company, valued at approximately $529,578.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.69% of the company’s stock.

FMBI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded First Midwest Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub upgraded First Midwest Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Piper Jaffray Companies upgraded First Midwest Bancorp from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $25.00 to $26.00 in a research note on Monday, July 24th. ValuEngine lowered First Midwest Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, FIG Partners lowered First Midwest Bancorp from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $26.00 to $25.00 in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $26.17.

About First Midwest Bancorp

First Midwest Bancorp, Inc is a bank holding company. The Company’s principal subsidiary, First Midwest Bank (the Bank), is an Illinois state-chartered bank and provides a range of banking, treasury and wealth management products and services, to commercial and industrial, commercial real estate, municipal and consumer customers.

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

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