Today’s Stock Alert: Could First Midwest Bancorp Inc Lose its Strength? The Stock Reaches 52-Week High

Today's Stock Alert: 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 $26.55 target or 9.00% above today’s $24.36 share price. The 6 months bullish chart indicates low risk for the $2.00 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $26.55 price target is reached, the company will be worth $180.00M 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 338,150 shares traded hands or 3.02% up from the average. First Midwest Bancorp Inc (NASDAQ:FMBI) has risen 30.89% since April 28, 2016 and is uptrending. It has outperformed by 24.96% the S&P500.

Analysts await First Midwest Bancorp Inc (NASDAQ:FMBI) to report earnings on January, 24. They expect $0.32 EPS, up 10.34% or $0.03 from last year’s $0.29 per share. FMBI’s profit will be $26.27M for 19.03 P/E if the $0.32 EPS becomes a reality. After $0.32 actual EPS reported by First Midwest Bancorp Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

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 stock of First Midwest Bancorp Inc (NASDAQ:FMBI) has “Neutral” rating given on Friday, June 10 by Piper Jaffray. The stock of First Midwest Bancorp Inc (NASDAQ:FMBI) has “Overweight” rating given on Friday, October 9 by Stephens. The firm earned “Neutral” rating on Friday, May 13 by Macquarie Research.

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 worsened, 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.
Maltese Ltd has invested 0.54% of its portfolio in First Midwest Bancorp Inc (NASDAQ:FMBI). Pacad Invest Limited accumulated 0.01% or 4,700 shares. The Pennsylvania-based Federated Invsts Pa has invested 0% in First Midwest Bancorp Inc (NASDAQ:FMBI). Wellington Mngmt Grp Llp has 0.02% invested in the company for 4.85 million shares. Teachers Retirement Of The State Of Kentucky, a Kentucky-based fund reported 28,900 shares. Jpmorgan Chase &, a New York-based fund reported 357,875 shares. The Pennsylvania-based Sei Invests has invested 0% in First Midwest Bancorp Inc (NASDAQ:FMBI). Ubs Asset Mgmt Americas Incorporated reported 47,697 shares or 0% of all its holdings. Nomura Holding has 19,134 shares for 0% of their US portfolio. Gemmer Asset Mgmt Ltd Liability Co has invested 0% of its portfolio in First Midwest Bancorp Inc (NASDAQ:FMBI). Dimensional Fund Lp last reported 6.81M shares in the company. United Services Automobile Association, a Texas-based fund reported 630,646 shares. Vestor Capital Ltd Liability owns 5,500 shares or 0.03% of their US portfolio. Bnp Paribas Arbitrage owns 25,404 shares or 0% of their US portfolio. Cornerstone Capital Management Liability Corporation holds 0% or 19,273 shares in its portfolio.

Insider Transactions: Since August 22, 2016, the stock had 1 insider purchase, and 2 sales for $2.13 million net activity. Another trade for 1,200 shares valued at $23,004 was made by Diedrich Robert P on Monday, August 22. Shares for $2.42M were sold by OMEARA ROBERT P on Monday, November 21. Another trade for 16,000 shares valued at $310,400 was made by Hayley Kathryn on Thursday, October 27.

More important 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 article titled: “First Midwest buys Standard Bancshares in $365 million deal”, Dailyherald.com published: “First Midwest reinvests in its future” on November 28, 2016. More interesting news about First Midwest Bancorp Inc (NASDAQ:FMBI) was released by: Globenewswire.com and their article: “First Midwest Bancorp, Inc. Appoints Two New Directors” with publication date: August 22, 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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