4 times Within The Past Five Days, First Midwest Bancorp Inc. (FMBI) Hit A New High

First Midwest Bancorp Inc. (NASDAQ:FMBI) finished Friday with an addition of $0.15 to close at $19.97, an upside of 0.76 percent. An average of 531,740 shares of common stock have been traded in the last five days. There was a gain of $0.82 in the past week, and it reached a new high 32 times over the past 12 months. The last 20 days have seen an average of 440,095 shares traded, while the 50-day average volume stands at 469,626.

FMBI stock has increased by 8.89% in the last month. The company shares reached their 1-month lowest point of $17.76 on 09/23/21. With the stock rallying to its 52-week high on 03/18/21, shares of the company touched a low of $11.71 and a high of $24.28 in 52 weeks. It has reached a new high 19 times so far this year and achieved 25.44% or $4.05 in price. In spite of this, the price is down -17.75% from the 52-week high.

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Insider Transactions

232 days have passed since First Midwest Bancorp Inc. (FMBI) last reported insider trading activity. Hotchkiss James P, who is EVP and Treasurer, most recently acquired $2,521 shares at $20.77 per share on Mar 05. In this transaction, the insider spent $52,361. EVP and Treasurer, Hotchkiss James P, disposed of 2,479 shares at a price of $20.26 on Mar 04. The insider now owns more than $50,229 worth of shares.

Valuation Metrics

First Midwest Bancorp Inc. (FMBI) has a trailing price-to-earnings (P/E) ratio of 15.37, which compares with the 16.80 for the broader industry and 13.15 for the sector. In the last five years, First Midwest Bancorp Inc.’s PE ratio has ranged between 27.55 and 6.434. The stock’s beta is 1.23. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.69, the price-to-book (PB) ratio at 0.91, and the price-to-cash flow ratio at 15.73.

First Midwest Bancorp Inc. pays a $0.56 dividend per share annually. It offers a dividend yield of 2.80%. The company has a payout ratio of 42.90%. The company’s most recent quarterly dividend payment took place on Oct. 12, and it was $0.14 a share, without any change from last year. Its latest increase dividend $0.02 reported on Monday May 20 2019.Dividends have grown by 43.59% each year over the last three years.

Further, the company has a long term debt to equity ratio of 0.10 and a total debt to equity ratio of 0.10 for the quarter ending June 29. Its gross profit as reported stood at $579.65 million compared to revenue of $651.32 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, First Midwest Bancorp Inc.’s return on assets was 0.70%. For the broader industry, ROE averaged 11.10 over the past year.

Earnings Surprise

For the three-month period that ended June 29, First Midwest Bancorp Inc. had $235.18 million in total debt. The analyst consensus anticipated First Midwest Bancorp Inc.’s latest quarter earnings to come in at $0.37 per share, but it turned out to be $0.41, a 10.80% surprise. At the end of the quarter ending June 29, First Midwest Bancorp Inc.’s stock balance sheet showed total debt was $1.74 billion. Shareholders own equity worth $114.3 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at First Midwest Bancorp Inc. (FMBI) price momentum. RSI 9-day as of the close on 22 October was 67.46%, suggesting the stock is Neutral, with historical volatility in this time frame at 20.17%.

As of today, FMBI’s price is $19.75 +4.28% or $0.82 from its 5-day moving average. FMBI is currently trading +8.00% higher than its 20-day SMA and -3.62% lower than its 100-day SMA. However, the stock’s current price level is +7.42% above the SMA50 and +13.95% above the SMA200.

The stochastic %K and %D were 94.28% and 90.67%, respectively, and the average true range (ATR) was 0.41. With the 14-day stochastic at 96.21% and the average true range at 0.42, the RSI (14) stands at 64.40%. The stock has reached 0.42 on the 9-day MACD Oscillator while the 14-day reading was at 0.43.

Analyst Ratings

Piper Sandler upgraded First Midwest Bancorp Inc. (NASDAQ: FMBI) to a an Overweight rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for First Midwest Bancorp Inc. (FMBI) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell FMBI, while 5 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.

What is FMBI’s price target for the next 12 months?

Analysts predict a range of price targets between $20.00 and $25.00, with a median target of $22.41. Taking a look at these predictions, the average price target given by analysts for First Midwest Bancorp Inc. (FMBI) stock is $22.45.


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