First Midwest Bancorp Inc. [NASDAQ: FMBI] loss -2.03% on the last trading session, reaching $20.72 price per share at the time. The company report on June 3, 2021 that SHAREHOLDER ALERT: WeissLaw LLP Investigates First Midwest Bancorp, Inc.
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of First Midwest Bancorp, Inc. (“First Midwest” or the “Company”) (NASDAQ: FMBI) in connection with the proposed acquisition of the Company by Old National Bancorp (“Old National”) (NASDAQ: ONB). Under the terms of the merger agreement, First Midwest shareholders will receive 1.1336 shares of Old National common stock for each First Midwest share that they own. Upon closing of the transaction, Old National shareholders will own approximately 56% and First Midwest shareholders will own approximately 44% of the combined entity.
If you own First Midwest shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:.
First Midwest Bancorp Inc. represents 113.10 million in outstanding shares, while the company has a total market value of $2.36 billion with the latest information. FMBI stock price has been found in the range of $20.69 to $21.33.
If compared to the average trading volume of 731.17K shares, FMBI reached a trading volume of 2579538 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about First Midwest Bancorp Inc. [FMBI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FMBI shares is $22.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FMBI stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Raymond James have made an estimate for First Midwest Bancorp Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on June 02, 2021. The new note on the price target was released on February 10, 2021, representing the official price target for First Midwest Bancorp Inc. stock.
The Average True Range (ATR) for First Midwest Bancorp Inc. is set at 0.58, with the Price to Sales ratio for FMBI stock in the period of the last 12 months amounting to 3.73. The Price to Book ratio for the last quarter was 0.97, with the Price to Cash per share for the same quarter was set at 10.67. Price to Free Cash Flow for FMBI in the course of the last twelve months was 8.05.
Trading performance analysis for FMBI stock
First Midwest Bancorp Inc. [FMBI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.32. With this latest performance, FMBI shares gained by 0.48% in over the last four-week period, additionally plugging by 48.11% over the last 6 months – not to mention a rise of 56.97% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FMBI stock in for the last two-week period is set at 45.19, with the RSI for the last a single of trading hit 43.68, and the three-weeks RSI is set at 46.78 for First Midwest Bancorp Inc. [FMBI]. The present Moving Average for the last 50 days of trading for this stock 21.38, while it was recorded at 20.85 for the last single week of trading, and 16.85 for the last 200 days.
First Midwest Bancorp Inc. [FMBI]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and First Midwest Bancorp Inc. [FMBI] shares currently have an operating margin of +18.72. First Midwest Bancorp Inc.’s Net Margin is presently recorded at +13.48.
Return on Total Capital for FMBI is now 3.28, given the latest momentum, and Return on Invested Capital for the company is 2.56. Return on Equity for this stock inclined to 4.23, with Return on Assets sitting at 0.55. When it comes to the capital structure of this company, First Midwest Bancorp Inc. [FMBI] has a Total Debt to Total Equity ratio set at 71.93. Additionally, FMBI Total Debt to Total Capital is recorded at 41.84, with Total Debt to Total Assets ending up at 9.28. Long-Term Debt to Equity for the company is recorded at 61.87, with the Long-Term Debt to Total Capital now at 32.90.
Reflecting on the efficiency of the workforce at the company, First Midwest Bancorp Inc. [FMBI] managed to generate an average of $51,550 per employee.
First Midwest Bancorp Inc. [FMBI]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, First Midwest Bancorp Inc. posted 0.19/share EPS, while the average EPS was predicted by analysts to be reported at 0.15/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 26.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FMBI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for First Midwest Bancorp Inc. go to 7.00%.
An analysis of insider ownership at First Midwest Bancorp Inc. [FMBI]
There are presently around $1,968 million, or 85.40% of FMBI stock, in the hands of institutional investors. The top three institutional holders of FMBI stocks are: BLACKROCK INC. with ownership of 16,879,458, which is approximately 1.278% of the company’s market cap and around 0.90% of the total institutional ownership; VANGUARD GROUP INC, holding 12,884,762 shares of the stock with an approximate value of $266.97 million in FMBI stocks shares; and FULLER & THALER ASSET MANAGEMENT, INC., currently with $191.07 million in FMBI stock with ownership of nearly 12.975% of the company’s market capitalization.
Positions in First Midwest Bancorp Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 91 institutional holders increased their position in First Midwest Bancorp Inc. [NASDAQ:FMBI] by around 9,484,094 shares. Additionally, 99 investors decreased positions by around 7,905,856 shares, while 33 investors held positions by with 77,580,948 shares. The mentioned changes placed institutional holdings at 94,970,898 shares, according to the latest SEC report filing. FMBI stock had 26 new institutional investments in for a total of 778,361 shares, while 27 institutional investors sold positions of 1,056,312 shares during the same period.