Wall Street analysts forecast that First Midwest Bancorp Inc (NASDAQ:FMBI) will announce sales of $182.60 million for the current quarter, Zacks reports. Three analysts have issued estimates for First Midwest Bancorp’s earnings. The highest sales estimate is $183.80 million and the lowest is $181.20 million. First Midwest Bancorp reported sales of $173.93 million in the same quarter last year, which would suggest a positive year over year growth rate of 5%. The business is scheduled to announce its next quarterly earnings report on Tuesday, April 28th.
On average, analysts expect that First Midwest Bancorp will report full-year sales of $742.77 million for the current fiscal year, with estimates ranging from $739.30 million to $747.10 million. For the next year, analysts forecast that the firm will report sales of $763.63 million, with estimates ranging from $758.20 million to $771.90 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 posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.51 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $194.86 million during the quarter, compared to analyst estimates of $192.33 million.
Shares of NASDAQ FMBI traded up $0.89 during midday trading on Monday, hitting $13.70. The company’s stock had a trading volume of 816,000 shares, compared to its average volume of 677,408. The business’s fifty day simple moving average is $17.76 and its two-hundred day simple moving average is $20.31. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.99. First Midwest Bancorp has a 1 year low of $11.44 and a 1 year high of $23.64. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 7.53 and a beta of 1.23.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Investors of record on Friday, March 27th will be issued a $0.14 dividend. The ex-dividend date is Thursday, March 26th. This represents a $0.56 annualized dividend and a yield of 4.09%. First Midwest Bancorp’s dividend payout ratio (DPR) is 28.28%.
Large investors have recently modified their holdings of the stock. Macquarie Group Ltd. raised its stake in First Midwest Bancorp by 18.2% in the fourth quarter. Macquarie Group Ltd. now owns 3,763,978 shares of the financial services provider’s stock valued at $86,797,000 after buying an additional 579,403 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of First Midwest Bancorp by 8.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,611,005 shares of the financial services provider’s stock worth $60,210,000 after buying an additional 210,691 shares during the period. Pzena Investment Management LLC boosted its position in shares of First Midwest Bancorp by 19.3% during the fourth quarter. Pzena Investment Management LLC now owns 1,847,219 shares of the financial services provider’s stock worth $42,597,000 after buying an additional 298,516 shares during the period. Bank of New York Mellon Corp boosted its position in shares of First Midwest Bancorp by 10.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,556,002 shares of the financial services provider’s stock worth $35,881,000 after buying an additional 141,907 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of First Midwest Bancorp by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 1,474,092 shares of the financial services provider’s stock worth $33,992,000 after buying an additional 79,617 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.
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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