First Midwest Bancorp Inc (FMBI) to Issue Quarterly Dividend of $0.09 on April 11th
First Midwest Bancorp Inc (NASDAQ:FMBI) announced a quarterly dividend on Friday, February 24th. Stockholders of record on Friday, March 24th will be paid a dividend of 0.09 per share by the financial services provider on Tuesday, April 11th. This represents a $0.36 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, March 22nd.
Shares of First Midwest Bancorp (NASDAQ:FMBI) opened at 24.22 on Tuesday. The firm has a market capitalization of $2.49 billion, a PE ratio of 21.25 and a beta of 1.22. The stock has a 50 day moving average price of $24.42 and a 200 day moving average price of $22.55. First Midwest Bancorp has a 52 week low of $15.86 and a 52 week high of $25.83.
First Midwest Bancorp (NASDAQ:FMBI) last released its earnings results on Tuesday, January 24th. The financial services provider reported $0.32 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.32. First Midwest Bancorp had a net margin of 17.08% and a return on equity of 7.79%. During the same period in the previous year, the company posted $0.29 earnings per share. Equities analysts forecast that First Midwest Bancorp will post $1.45 earnings per share for the current fiscal year.
Several research firms have commented on FMBI. Zacks Investment Research raised shares of First Midwest Bancorp from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Tuesday, December 20th. SunTrust Banks, Inc. began coverage on shares of First Midwest Bancorp in a research note on Tuesday, December 20th. They issued a “buy” rating and a $28.00 target price for the company. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of First Midwest Bancorp in a research note on Sunday, December 11th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $22.19.
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In related news, Director Arsdell Stephen C. Van acquired 14,000 shares of the stock in a transaction dated Tuesday, March 7th. The stock was bought at an average cost of $24.39 per share, with a total value of $341,460.00. Following the purchase, the director now directly owns 14,000 shares of the company’s stock, valued at $341,460. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Robert P. Diedrich sold 7,673 shares of the business’s stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $23.70, for a total transaction of $181,850.10. The disclosure for this sale can be found here. 2.48% of the stock is owned by insiders.
First Midwest Bancorp Company 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.
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