|Over a week ago|
Stephens to hold a virtual field trip » 09:2005/0605/06/21
ASB, BUSE, FMBI, HBAN, WTFC
Virtual Chicago Bank…
Virtual Chicago Bank Field Trip will be held on May 6.
First Midwest Bancorp reports Q1 adjusted EPS 37c, consensus 37c » 17:3604/2004/20/21
"We had a solid…
"We had a solid start to the year as our overall performance improved as the economic recovery gains traction," said Michael L. Scudder, Chairman of the Board and Chief Executive Officer of the Company. "Operating performance for the quarter once again benefited from strong production from our fee-based businesses and continued focus on managing our costs. As expected, quarterly comparisons were affected by both normal seasonality and the impact of federal stimulus programs on both client liquidity and transactional volumes. Importantly, our underlying business momentum is strengthening as both production volumes and sales pipelines normalize and improve."
|Over a quarter ago|
Stephens upgrades two, downgrades one in Midwest Bank rating reshuffle » 06:4802/1002/10/21
MSBI, ICBK, FMBI
As previously reported,…
As previously reported, Stephens analyst Terry McEvoy upgraded Midland States (MSBI) to Overweight from Equal Weight with a $28 price target, upgraded County Bancorp (ICBK) to Overweight from Equal Weight with a $26 price target, and downgraded First Midwest (FMBI) to Equal Weight from Overweight with a $19 price target as he reshuffled his ratings in his Midwest Bank coverage following the Q4 results from the group. Midland States made several strategic actions in 2020 to better position it for more consistent returns, said McEvoy, who also argues that the recent boost in its quarterly dividend speaks to the health of the balance sheet. The improved outlook for the U.S. dairy industry is important to County given the direct and indirect exposure to the sector, said McEvoy, who sees "no reason why shares can't trade to tangible book value over the next 12 months." Meanwhile, he sees shares of First Midwest being fairly valued after the roughly 50% move higher over the last three months, McEvoy tells investors.
First Midwest downgraded to Equal Weight from Overweight at Stephens » 06:2602/1002/10/21
Stephens analyst Terry…
Stephens analyst Terry McEvoy downgraded First Midwest to Equal Weight from Overweight with a $19 price target.
First Midwest reports Q4 EPS 33c, consensus 27c » 18:0301/2601/26/21
Reports Q4 provision for…
Reports Q4 provision for loan losses $10.507M, compared to $15.927 in the previous quarter. "The best of First Midwest has been on display in what has been an unprecedented and turbulent period for our country," said Michael L. Scudder, Chairman of the Board and CEO. "While the year's financial performance was impacted by the severe economic conditions caused by both the rapid onset and the magnitude of the pandemic, I am extremely proud of our 2,100 colleagues, who represent First Midwest each day. Amid the demands of a global health crisis, they were able to be agile, resilient and successfully pivot within our dramatically changed operating environment, working tirelessly to help support our clients, communities, and each other."
First Midwest downgraded to Neutral from Buy at Janney Montgomery Scott » 07:4411/1011/10/20
Janney Montgomery Scott…
Janney Montgomery Scott analyst John Rodis downgraded First Midwest to Neutral from Buy.
First Midwest upgraded to Outperform from Market Perform at Raymond James » 08:3410/2610/26/20
Raymond James analyst…
Raymond James analyst Daniel Tamayo upgraded First Midwest to Outperform from Market Perform with a $15 price target following the company's Q3 earnings report. Tamayo says that while the NIM missed projections, the analyst looks for stable to increasing levels going forward, where the bank's strong core deposit base will provide upside if there is a steeper yield curve or higher rates, driving a return to strong profitability metrics.
First Midwest upgraded to Outperform from Market Perform at Raymond James » 04:5610/2610/26/20
Raymond James analyst…
Raymond James analyst Daniel Tamayo upgraded First Midwest Bancorp to Outperform from Market Perform with a $15 price target.
First Midwest reports Q3 adjusted EPS 33c, consensus 22c 17:3610/2010/20/20
First Midwest reports Q3 EPS 21c, consensus 22c » 17:3110/2010/20/20
Produced net interest…
Produced net interest income of $143M at a net margin of 2.95%, down 18 basis points from the prior quarter, reflective of lower interest rates and the full quarter impact of Paycheck Protection Program loans.