(NASDAQ:FFBC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,420 shares of the bank's stock, valued at approximately $261,000.
Vanguard Group Inc. raised its stake in shares of First Midwest Bancorp, Inc. The institutional investor owned 11,384 shares of the bank's stock after selling 4,037 shares during the period. United Services Automobile Association raised its stake in shares of First Midwest Bancorp by 72.6% in the first quarter. Vanguard Group Inc. now owns 7,920,350 shares of the financial services provider's stock worth $187,554,000 after buying an additional 1,037,514 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of First Midwest Bancorp by 1.1% in the first quarter. Wellington Management Group LLP now owns 5,144,949 shares of the financial services provider's stock valued at $121,832,000 after buying an additional 402,445 shares in the last quarter. State Street Corp increased its stake in shares of First Midwest Bancorp by 5.8% in the fourth quarter. State Street Corp now owns 279,697 shares of the bank's stock worth $6,339,000 after buying an additional 15,716 shares during the period. Dimensional Fund Advisors LP now owns 340,289 shares of the bank's stock worth $7,708,000 after buying an additional 17,420 shares during the period.
Shares of First Midwest Bancorp, Inc. First Midwest Bancorp, Inc. has a 52-week low of $16.68 and a 52-week high of $25.83. The company has a market cap of $1.72 billion, a P/E ratio of 18.47 and a beta of 1.20. The stock's 50 day moving average price is $22.89 and its 200 day moving average price is $23.76. (NASDAQ:FBNK) opened at 26.30 on Monday. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.34.
First Financial Bancorp. had a net margin of 24.42% and a return on equity of 10.79%. The firm had revenue of $86.30 million for the quarter, compared to analysts' expectations of $86.84 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. On average, equities analysts predict that First Connecticut Bancorp, Inc. will post $1.33 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Friday, June 30th were given a dividend of $0.10 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Wednesday, June 28th. First Financial Bancorp. During the same quarter in the prior year, the firm posted $0.32 EPS. First Midwest Bancorp's payout ratio is presently 35.09%.
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FMBI has been the subject of several research analyst reports. ValuEngine upgraded First Financial Bancorp. from a hold rating to a buy rating in a research note on Wednesday, May 31st. Keefe, Bruyette & Woods reiterated a "hold" rating and set a $27.00 price target on shares of First Financial Bancorp.in a report on Monday, April 10th. (NASDAQ:FFBC) have been trending positive recently, Accern reports. Finally, Jefferies Group LLC reiterated a "buy" rating and issued a $27.00 price target on shares of First Midwest Bancorp in a report on Sunday, June 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. First Midwest Bancorp has an average rating of "Buy" and a consensus price target of $26.50.
In other First Midwest Bancorp news, Director Thomas Lynn Brown bought 3,000 shares of the business's stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $27.66, for a total transaction of $47,381.58. Following the completion of the transaction, the insider now owns 2,051 shares in the company, valued at approximately $56,730.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
First Financial Bancorp. (First Financial) is a regional bank holding company. The range of banking services provided by First Financial to individuals and businesses include commercial lending, real estate lending and consumer financing.