First Midwest Bancorp, Inc. operates as the bank holding company for First Midwest Bank that provides various banking products and services.
Flawless balance sheet, undervalued and pays a dividend.
Share Price & News
How has First Midwest Bancorp's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: FMBI has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: FMBI underperformed the US Banks industry which returned 11.1% over the past year.
Return vs Market: FMBI underperformed the US Market which returned 19.3% over the past year.
Price Volatility Vs. Market
How volatile is First Midwest Bancorp's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall StIs It Time To Consider Buying First Midwest Bancorp, Inc. (NASDAQ:FMBI)?
3 weeks ago | Simply Wall StDo You Know What First Midwest Bancorp, Inc.'s (NASDAQ:FMBI) P/E Ratio Means?
1 month ago | Simply Wall StThe First Midwest Bancorp (NASDAQ:FMBI) Share Price Has Gained 42% And Shareholders Are Hoping For More
Is First Midwest Bancorp undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: FMBI ($20.79) is trading below our estimate of fair value ($33)
Significantly Below Fair Value: FMBI is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: FMBI is good value based on its PE Ratio (11.4x) compared to the Banks industry average (12.6x).
PE vs Market: FMBI is good value based on its PE Ratio (11.4x) compared to the US market (18.5x).
Price to Earnings Growth Ratio
PEG Ratio: FMBI is poor value based on its PEG Ratio (1.7x)
Price to Book Ratio
PB vs Industry: FMBI is good value based on its PB Ratio (1x) compared to the US Banks industry average (1.2x).
How is First Midwest Bancorp forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FMBI's forecast earnings growth (6.8% per year) is above the savings rate (1.7%).
Earnings vs Market: FMBI's earnings (6.8% per year) are forecast to grow slower than the US market (14.2% per year).
High Growth Earnings: FMBI's earnings are forecast to grow, but not significantly.
Revenue vs Market: FMBI's revenue (7.8% per year) is forecast to grow faster than the US market (7.6% per year).
High Growth Revenue: FMBI's revenue (7.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: FMBI's Return on Equity is forecast to be low in 3 years time (9.9%).
How has First Midwest Bancorp performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FMBI has high quality earnings.
Growing Profit Margin: FMBI's current net profit margins (28%) are higher than last year (25.5%).
Past Earnings Growth Analysis
Earnings Trend: FMBI's earnings have grown significantly by 21.7% per year over the past 5 years.
Accelerating Growth: FMBI's earnings growth over the past year (26.5%) exceeds its 5-year average (21.7% per year).
Earnings vs Industry: FMBI earnings growth over the past year (26.5%) exceeded the Banks industry 12.2%.
Return on Equity
High ROE: FMBI's Return on Equity (8.4%) is considered low.
Return on Assets
Return on Capital Employed
How is First Midwest Bancorp's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: FMBI has a low level of unsold assets or inventory.
Debt Coverage by Assets: FMBI's debt is not covered by short term assets (assets are 0.4x debt).
Financial Institutions Analysis
Asset Level: FMBI's level of assets compared to its equity is low.
Allowance for Bad Loans: FMBI has a sufficient allowance for bad loans.
Low Risk Liabilities: FMBI's liabilities are made up of primarily low risk sources of funding.
Loan Level: FMBI has an acceptable proportion of non-loan assets held.
Low Risk Deposits: FMBI's loans are broadly funded by customer deposits.
Level of Bad Loans: FMBI has an appropriate level of bad loans (0.68%)
What is First Midwest Bancorp's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: FMBI's dividend (2.69%) is higher than the bottom 25% of dividend payers in the US market (1.44%).
High Dividend: FMBI's dividend (2.69%) is low compared to the top 25% of dividend payers in the US market (3.71%).
Stability and Growth of Payments
Stable Dividend: FMBI's dividends per share have been stable in the past 10 years.
Growing Dividend: FMBI's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (29.5%), FMBI's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: FMBI's dividends in 3 years are forecast to be well covered by earnings (32.4% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Mike Scudder (58yo)
Mr. Michael L. Scudder, also known as Mike, has been the Chief Executive Officer of First Midwest BanCorp, Inc. since September 14, 2008. Mr. Scudder has been the Chief Executive Officer of First Midwest B ...
CEO Compensation Analysis
Compensation vs Market: Mike's total compensation ($USD3.44M) is about average for companies of similar size in the US market ($USD3.81M).
Compensation vs Earnings: Mike's compensation has been consistent with company performance over the past year.
|Chairman of the Board & CEO||11.4yrs||US$3.44m||0.27% $6.2m|
|Executive VP & CFO||3.1yrs||US$1.70m||0.047% $1.1m|
|Executive VP & Director of Strategic Planning and Consumer Banking - First Midwest Bank||7.7yrs||US$820.13k||0.046% $1.0m|
|Executive VP & Director of Commercial Banking -First Midwest Bank||4.1yrs||US$1.14m||0.031% $713.1k|
|Executive VP and Chief Information & Operations Officer||4.1yrs||no data||0.024% $541.2k|
|Assistant Vice President & IR Officer||0yrs||no data||no data|
|Executive VP||8.1yrs||US$742.98k||0.053% $1.2m|
|Senior VP & Director of Corporate Communications||0yrs||no data||no data|
|Executive VP & Chief Human Resources Officer||0.9yrs||no data||0.0084% $193.2k|
Experienced Management: FMBI's management team is considered experienced (4.1 years average tenure).
|Chairman of the Board & CEO||11.4yrs||US$3.44m||0.27% $6.2m|
|Independent Director||9.5yrs||US$113.00k||0.027% $620.5k|
|Independent Director||8.9yrs||US$120.08k||0.023% $527.7k|
|Independent Director||14.5yrs||US$107.50k||0.033% $743.5k|
|Chairman Emeritus||2.3yrs||US$547.22k||no data|
|Lead Independent Director||2.3yrs||US$153.80k||0.011% $260.0k|
|Independent Director||9.5yrs||US$123.34k||0.025% $571.6k|
|Independent Director||3yrs||US$119.48k||0.015% $342.9k|
|Independent Director||11.5yrs||US$117.50k||0.034% $787.9k|
Experienced Board: FMBI's board of directors are considered experienced (7.2 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5.2%.
First Midwest Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources
- Name: First Midwest Bancorp, Inc.
- Ticker: FMBI
- Exchange: NasdaqGS
- Founded: 1982
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$2.286b
- Shares outstanding: 109.97m
- Website: https://www.firstmidwest.com
Number of Employees
- First Midwest Bancorp, Inc.
- 8750 West Bryn Mawr Avenue
- Suite 1300
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|FMBI||NasdaqGS (Nasdaq Global Select)||Yes||Common Stock||US||USD||Apr 1983|
|FM6||DB (Deutsche Boerse AG)||Yes||Common Stock||DE||EUR||Apr 1983|
First Midwest Bancorp, Inc. operates as the bank holding company for First Midwest Bank that provides various banking products and services. The company accepts checking, NOW, money market, and savings accounts, as well as various types of short-term and long-term certificates of deposit. Its loan products include working capital loans; accounts receivable financing; inventory and equipment financing; sector-based lending, including healthcare, asset-based lending, structured finance, and syndications; agricultural loans; and mortgages, home equity lines and loans, personal loans, specialty loans, and consumer secured loans, as well as funding for the construction, purchase, refinance, or improvement of commercial real estate properties. In addition, the company offers treasury management products and services comprising automated clearing house collection, lockbox, remote deposit capture, and financial electronic data interchange; wire transfer, account reconciliation, controlled disbursement, direct deposit, and positive pay services; information reporting services; corporate credit cards; and liquidity management, fraud prevention, and merchant services. Further, it provides fiduciary and executor, financial planning, investment advisory, employee benefit plan, and private banking services to corporate and public retirement plans, foundations and endowments, high net worth individuals, and multi-employer trust funds. Additionally, the company offers debit and automated teller machine, and credit cards; Internet and mobile, and telephone banking services; and financial education services. It serves commercial and industrial, commercial real estate, municipal, and consumer customers. The company operates 120 locations and 177 automated teller machines in greater Chicago metropolitan area, northwest Indiana, central and western Illinois, and eastern Iowa. First Midwest Bancorp, Inc. was incorporated in 1982 and is headquartered in Chicago, Illinois.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/22 00:25|
|End of Day Share Price||2020/02/21 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.