Today’s Stock On Watch: Is First Midwest Bancorp Inc a Buy? The Stock Reaches 52-Week High Today

Today's Stock On Watch: Is First Midwest Bancorp Inc a Buy? The Stock Reaches 52 Week High Today

The stock of First Midwest Bancorp Inc (NASDAQ:FMBI) hit a new 52-week high and has $29.26 target or 23.00% above today’s $23.79 share price. The 5 months bullish chart indicates low risk for the $1.97 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $29.26 price target is reached, the company will be worth $453.10 million 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. About 27,559 shares traded hands. First Midwest Bancorp Inc (NASDAQ:FMBI) has risen 27.27% since April 19, 2016 and is uptrending. It has outperformed by 23.41% 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. Stephens initiated the stock with “Overweight” rating in Friday, October 9 report. The firm earned “Neutral” rating on Friday, June 10 by Piper Jaffray. The firm has “Neutral” rating by Macquarie Research given 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 1.1 in 2016 Q2. Its down 0.26, from 1.36 in 2016Q1. The ratio is negative, 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.
Ameriprise Fin holds 0.01% of its portfolio in First Midwest Bancorp Inc (NASDAQ:FMBI) for 749,283 shares. Highlander Capital Limited Company owns 6,000 shares or 0.1% of their US portfolio. Susquehanna Grp Llp reported 100,905 shares or 0% of all its holdings. Northern Trust, a Illinois-based fund reported 2.27M shares. Bancshares Of America Corporation De has invested 0% of its portfolio in First Midwest Bancorp Inc (NASDAQ:FMBI). Trexquant Investment Limited Partnership has 21,356 shares for 0.05% of their US portfolio. Strs Ohio reported 264,200 shares or 0.02% of all its holdings. Barrington Strategic Wealth Mngmt Gp Limited Liability Corp has 20,060 shares for 0.2% of their US portfolio. Nationwide Fund, a Pennsylvania-based fund reported 157,180 shares. The Illinois-based Busey Tru has invested 0.04% in First Midwest Bancorp Inc (NASDAQ:FMBI). Envestnet Asset has 8,579 shares for 0% of their US portfolio. Morgan Stanley holds 0% or 137,801 shares in its portfolio. Moreover, Bnp Paribas Arbitrage has 0% invested in First Midwest Bancorp Inc (NASDAQ:FMBI) for 25,404 shares. Renaissance Technology Ltd Limited Liability Company holds 0.01% of its portfolio in First Midwest Bancorp Inc (NASDAQ:FMBI) for 416,200 shares. Brandywine Inv Management Limited Co accumulated 0.03% or 266,612 shares.

Insider Transactions: Since August 22, 2016, the stock had 1 buy, and 1 sale for $287,396 net activity. On Thursday, October 27 the insider Hayley Kathryn bought $310,400. Diedrich Robert P sold 1,200 shares worth $23,004.

More notable recent First Midwest Bancorp Inc (NASDAQ:FMBI) news were published by: Globenewswire.com which released: “First Midwest Bancorp, Inc. Receives Federal Reserve Approval for Acquisition …” on November 15, 2016, also Finance.Yahoo.com with their article: “First Midwest Bancorp, Inc. Announces 2016 Third Quarter Results” published on October 18, 2016, Money.Cnn.com published: “First Midwest Bancorp, Inc. Announces Strategic Branch Initiatives” on January 15, 2016. More interesting news about First Midwest Bancorp Inc (NASDAQ:FMBI) were released by: Globenewswire.com and their article: “First Midwest Bancorp, Inc. Declares Fourth Quarter Cash Dividend of $0.09 Per …” published on November 15, 2016 as well as Chicagobusiness.com‘s news article titled: “First Midwest buys Standard Bancshares in $365 million deal” with publication date: June 29, 2016.

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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