Earnings and Growth Analysis : First Midwest Bancorp (NASDAQ:FMBI)

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Earnings results for First Midwest Bancorp (NASDAQ:FMBI)

First Midwest Bancorp, Inc. is expected* to report earnings on 10/20/2020 after market close. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 4 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.23. The reported EPS for the same quarter last year was $0.52.

First Midwest Bancorp last announced its earnings data on July 21st, 2020. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The company had revenue of $178.23 million for the quarter, compared to the consensus estimate of $185.80 million. First Midwest Bancorp has generated $1.98 earnings per share over the last year and currently has a price-to-earnings ratio of 9.1. First Midwest Bancorp has confirmed that its next quarterly earnings report will be published on Tuesday, October 20th, 2020.

Analyst Opinion on First Midwest Bancorp (NASDAQ:FMBI)

3 Wall Street analysts have issued ratings and price targets for First Midwest Bancorp in the last 12 months. Their average twelve-month price target is $13.50, predicting that the stock has a possible upside of 13.92%. The high price target for FMBI is $14.00 and the low price target for FMBI is $13.00. There are currently 1 hold rating and 2 buy ratings for the stock, resulting in a consensus rating of “Buy.”

First Midwest Bancorp has received a consensus rating of Buy. The company’s average rating score is 2.67, and is based on 2 buy ratings, 1 hold rating, and no sell ratings. According to analysts’ consensus price target of $13.50, First Midwest Bancorp has a forecasted upside of 13.9% from its current price of $11.85. First Midwest Bancorp has only been the subject of 1 research reports in the past 90 days.

Dividend Strength: First Midwest Bancorp (NASDAQ:FMBI)

First Midwest Bancorp is a leading dividend payer. It pays a dividend yield of 4.69%, putting its dividend yield in the top 25% of dividend-paying stocks. First Midwest Bancorp has only been increasing its dividend for 3 years. The dividend payout ratio of First Midwest Bancorp is 28.28%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, First Midwest Bancorp will have a dividend payout ratio of 68.29% next year. This indicates that First Midwest Bancorp will be able to sustain or increase its dividend.

Insiders buying/selling: First Midwest Bancorp (NASDAQ:FMBI)

In the past three months, First Midwest Bancorp insiders have bought more of their company’s stock than they have sold. Specifically, they have bought $24,880.00 in company stock and sold $0.00 in company stock. Only 1.10% of the stock of First Midwest Bancorp is held by insiders. 80.21% of the stock of First Midwest Bancorp is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of First Midwest Bancorp (NASDAQ:FMBI

Earnings for First Midwest Bancorp are expected to decrease by -9.89% in the coming year, from $0.91 to $0.82 per share. The P/E ratio of First Midwest Bancorp is 9.12, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 19.66. The P/E ratio of First Midwest Bancorp is 9.12, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 18.28. First Midwest Bancorp has a P/B Ratio of 0.55. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

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