Stock Mover of the Day: Could First Midwest Bancorp Inc Lose its Strength? The Stock Reaches 52-Week High

Stock Mover of the Day: Could First Midwest Bancorp Inc Lose its Strength? The Stock Reaches 52 Week High

The stock of First Midwest Bancorp Inc (NASDAQ:FMBI) hit a new 52-week high and has $32.17 target or 54.00% above today’s $20.89 share price. The 8 months bullish chart indicates low risk for the $1.69 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $32.17 price target is reached, the company will be worth $912.60M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 6.85% or $1.34 during the last trading session, hitting $20.89. About 547,443 shares traded hands or 90.48% up from the average. First Midwest Bancorp Inc (NASDAQ:FMBI) has risen 14.53% since April 7, 2016 and is uptrending. It has outperformed by 9.75% the S&P500.

First Midwest Bancorp Inc (NASDAQ:FMBI) Ratings Coverage

Out of 6 analysts covering First Midwest Bancorp (NASDAQ:FMBI), 2 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 33% are positive. First Midwest Bancorp has been the topic of 7 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The company was initiated on Friday, October 9 by Stephens. The stock of First Midwest Bancorp Inc (NASDAQ:FMBI) has “Neutral” rating given on Friday, June 10 by Piper Jaffray. The rating was initiated by Macquarie Research with “Neutral” on Friday, May 13.

According to Zacks Investment Research, “FIRST MIDWEST BANCORP, INC. is a multi-bank holding company engaged in commercial banking, trust, investment management, insurance, mortgage origination and servicing activities.”

Insitutional Activity: The institutional sentiment decreased to 1.36 in 2016 Q2. Its down 0.06, from 1.42 in 2016Q1. The ratio dived, as 14 funds sold all First Midwest Bancorp Inc shares owned while 50 reduced positions. 24 funds bought stakes while 63 increased positions. They now own 65.02 million shares or 2.35% less from 66.58 million shares in 2016Q1.
Trexquant L P has invested 0.05% of its portfolio in First Midwest Bancorp Inc (NASDAQ:FMBI). Tiaa Cref Invest Management Ltd holds 287,651 shares or 0% of its portfolio. Neuberger Berman Grp Limited Com accumulated 10,620 shares or 0% of the stock. Vanguard Gp reported 6.33 million shares or 0.01% of all its holdings. Endeavour Capital Advsr Inc has 0.64% invested in the company for 491,321 shares. First Quadrant L P Ca holds 0.02% or 41,200 shares in its portfolio. The Massachusetts-based Geode Management Ltd Liability Com has invested 0.01% in First Midwest Bancorp Inc (NASDAQ:FMBI). Loomis Sayles And Com L P reported 751 shares or 0% of all its holdings. Swiss Savings Bank holds 0% of its portfolio in First Midwest Bancorp Inc (NASDAQ:FMBI) for 130,600 shares. Citigroup Inc last reported 0% of its portfolio in the stock. Goldman Sachs Gru accumulated 2.30M shares or 0.01% of the stock. Victory Capital Inc last reported 0% of its portfolio in the stock. Bridgeway Mgmt, a Texas-based fund reported 245,800 shares. Highlander Cap Mgmt Limited Liability accumulated 0.1% or 6,000 shares. Macquarie Gru Limited holds 0.08% of its portfolio in First Midwest Bancorp Inc (NASDAQ:FMBI) for 2.27 million shares.

Insider Transactions: Since August 22, 2016, the stock had 1 insider buy, and 1 sale for $287,396 net activity. $310,400 worth of First Midwest Bancorp Inc (NASDAQ:FMBI) shares were bought by Hayley Kathryn. Diedrich Robert P also sold $23,004 worth of First Midwest Bancorp Inc (NASDAQ:FMBI) on Monday, August 22.

More recent First Midwest Bancorp Inc (NASDAQ:FMBI) news were published by: Money.Cnn.com which released: “First Midwest Bancorp, Inc. Announces Strategic Branch Initiatives” on January 15, 2016. Also Chicagobusiness.com published the news titled: “First Midwest buys Standard Bancshares in $365 million deal” on June 29, 2016. Reuters.com‘s news article titled: “BRIEF-First Midwest Bancorp Inc-entered into a loan agreement providing fo…” with publication date: October 03, 2016 was also an interesting one.

FMBI Company Profile

First Midwest Bancorp, Inc., incorporated on May 14, 1982, 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 services and products, to commercial and industrial, commercial real estate, municipal and consumer customers. The Bank operates primarily throughout the Chicago metropolitan area, as well as northwest Indiana, central and western Illinois, and eastern Iowa through approximately 110 banking locations.

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