Earnings results for First Midwest Bancorp (NASDAQ:FMBI)
First Midwest Bancorp, Inc. is expected* to report earnings on 07/20/2021 before market open. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 4 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.37. The reported EPS for the same quarter last year was $0.19.
First Midwest Bancorp last announced its earnings results on April 19th, 2021. The financial services provider reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The firm earned $186.92 million during the quarter, compared to analyst estimates of $190.48 million. First Midwest Bancorp has generated $1.18 earnings per share over the last year and currently has a price-to-earnings ratio of 16.9. First Midwest Bancorp has confirmed that its next quarterly earnings report will be published on Tuesday, July 20th, 2021. First Midwest Bancorp will be holding an earnings conference call on Tuesday, July 20th at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 412-317-0088 with passcode “10158514”.
Analyst Opinion on First Midwest Bancorp (NASDAQ:FMBI)
4 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 $20.00, predicting that the stock has a possible upside of 11.67%. The high price target for FMBI is $24.00 and the low price target for FMBI is $14.00. There are currently 4 hold ratings for the stock, resulting in a consensus rating of “Hold.”
First Midwest Bancorp has received a consensus rating of Hold. The company’s average rating score is 2.00, and is based on no buy ratings, 4 hold ratings, and no sell ratings. According to analysts’ consensus price target of $20.00, First Midwest Bancorp has a forecasted upside of 11.7% from its current price of $17.91. First Midwest Bancorp has only been the subject of 3 research reports in the past 90 days.
Dividend Strength: First Midwest Bancorp (NASDAQ:FMBI)
First Midwest Bancorp pays a meaningful dividend of 3.02%, higher than the bottom 25% of all stocks that pay dividends. First Midwest Bancorp has only been increasing its dividend for 1 years. The dividend payout ratio of First Midwest Bancorp is 47.46%. 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 38.10% 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 not sold or bought any company stock. Only 1.24% of the stock of First Midwest Bancorp is held by insiders. 81.63% 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 -2.00% in the coming year, from $1.50 to $1.47 per share. The P/E ratio of First Midwest Bancorp is 16.90, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 21.20. The P/E ratio of First Midwest Bancorp is 16.90, which means that it is trading at a more expensive P/E ratio than the Finance sector average P/E ratio of about 16.08. First Midwest Bancorp has a P/B Ratio of 0.83. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.
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