Macquarie Group Ltd. Raises Position in First Midwest Bancorp, Inc. (FMBI)

Macquarie Group Ltd. increased its position in shares of First Midwest Bancorp, Inc. (NASDAQ:FMBI) by 7.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,567,930 shares of the financial services provider’s stock after acquiring an additional 175,213 shares during the period. Macquarie Group Ltd. owned about 2.50% of First Midwest Bancorp worth $60,141,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. ProShare Advisors LLC grew its position in shares of First Midwest Bancorp by 0.3% in the 2nd quarter. ProShare Advisors LLC now owns 13,459 shares of the financial services provider’s stock valued at $314,000 after buying an additional 36 shares during the last quarter. Neuberger Berman Group LLC grew its position in shares of First Midwest Bancorp by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 10,303 shares of the financial services provider’s stock valued at $240,000 after buying an additional 77 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of First Midwest Bancorp by 0.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 33,100 shares of the financial services provider’s stock valued at $772,000 after buying an additional 100 shares during the last quarter. Texas Permanent School Fund grew its position in shares of First Midwest Bancorp by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 59,270 shares of the financial services provider’s stock valued at $1,382,000 after buying an additional 581 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its position in shares of First Midwest Bancorp by 3.9% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 19,140 shares of the financial services provider’s stock valued at $446,000 after buying an additional 710 shares during the last quarter. Institutional investors and hedge funds own 80.91% of the company’s stock.

In related news, Director Patrick J. Mcdonnell sold 3,500 shares of the 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 completion of the sale, the director now directly owns 24,237 shares of the company’s stock, valued at $529,578.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.69% of the company’s stock.

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First Midwest Bancorp, Inc. (NASDAQ:FMBI) traded up $0.28 during mid-day trading on Monday, reaching $23.47. The company had a trading volume of 708,100 shares, compared to its average volume of 773,390. First Midwest Bancorp, Inc. has a fifty-two week low of $20.50 and a fifty-two week high of $25.83. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. The firm has a market cap of $2,411.05, a P/E ratio of 17.01, a P/E/G ratio of 2.38 and a beta of 1.15.

First Midwest Bancorp (NASDAQ:FMBI) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. First Midwest Bancorp had a return on equity of 7.89% and a net margin of 18.08%. The business had revenue of $163.24 million for the quarter, compared to the consensus estimate of $164.81 million. During the same period in the prior year, the business earned $0.32 EPS. equities analysts predict that First Midwest Bancorp, Inc. will post 1.41 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 9th. Stockholders of record on Friday, December 22nd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.70%. First Midwest Bancorp’s dividend payout ratio (DPR) is presently 33.61%.

A number of equities research analysts have commented on the company. Jefferies Group LLC reiterated a “buy” rating and issued a $27.00 price target on shares of First Midwest Bancorp in a research report on Friday, August 11th. BidaskClub lowered First Midwest Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Zacks Investment Research upgraded First Midwest Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. ValuEngine upgraded First Midwest Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Finally, Piper Jaffray Companies upgraded First Midwest Bancorp from a “neutral” rating to an “overweight” rating and upped their target price for the company from $25.00 to $26.00 in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $25.83.

First Midwest Bancorp Profile

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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