Is it time to Buy before this week’s earning report First Midwest Bancorp (NASDAQ:FMBI)

Earnings results for First Midwest Bancorp (NASDAQ:FMBI)

First Midwest Bancorp, Inc. is estimated to report earnings on 10/19/2021. The upcoming earnings date is derived from an algorithm based on a company’s historical reporting dates. Our vendor, Zacks Investment Research, might revise this date in the future, once the company announces the actual earnings date. According to Zacks Investment Research, based on 4 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.43. The reported EPS for the same quarter last year was $0.33.

First Midwest Bancorp last issued its quarterly earnings results on July 19th, 2021. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. The firm earned $190.56 million during the quarter, compared to analysts’ expectations of $189.05 million. First Midwest Bancorp has generated $1.18 earnings per share over the last year ($1.31 diluted earnings per share) and currently has a price-to-earnings ratio of 14.9. Earnings for First Midwest Bancorp are expected to decrease by -12.35% in the coming year, from $1.70 to $1.49 per share. First Midwest Bancorp has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Tuesday, October 19th, 2021 based off prior year’s report dates.

Analyst Opinion on First Midwest Bancorp (NASDAQ:FMBI)

According to the issued ratings of 4 analysts in the last year, the consensus rating for First Midwest Bancorp stock is Hold based on the current 3 hold ratings and 1 buy rating for FMBI. The average twelve-month price target for First Midwest Bancorp is $22.89 with a high price target of $24.00 and a low price target of $22.00.

on FMBI’s analyst rating history

First Midwest Bancorp has received a consensus rating of Hold. The company’s average rating score is 2.25, and is based on 1 buy rating, 3 hold ratings, and no sell ratings. According to analysts’ consensus price target of $22.89, First Midwest Bancorp has a forecasted upside of 17.3% from its current price of $19.51. 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 pays a meaningful dividend of 2.85%, higher than the bottom 25% of all stocks that pay dividends. First Midwest Bancorp does not have a long track record of dividend growth. 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 37.58% 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. 80.79% 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 -12.35% in the coming year, from $1.70 to $1.49 per share. The P/E ratio of First Midwest Bancorp is 14.89, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 14.68. The P/E ratio of First Midwest Bancorp is 14.89, which means that it is trading at a more expensive P/E ratio than the Finance sector average P/E ratio of about 14.51. First Midwest Bancorp has a P/B Ratio of 0.91. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

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