NOT FOR DISTRIBUTION
Header cover image

Market Cap

US$2.7b

Last Updated

2021/04/16 22:15 UTC

Data Sources

Company Financials +

Executive Summary

First Midwest Bancorp, Inc. operates as the bank holding company for First Midwest Bank that provides various banking products and services. More Details


Snowflake Analysis

Flawless balance sheet established dividend payer.


Similar Companies

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 is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: FMBI's weekly volatility (5%) has been stable over the past year.


Market Performance


7 Day Return

-0.05%

FMBI

0.03%

US Banks

1.3%

US Market


1 Year Return

60.8%

FMBI

70.3%

US Banks

53.9%

US Market

Return vs Industry: FMBI underperformed the US Banks industry which returned 70.3% over the past year.

Return vs Market: FMBI exceeded the US Market which returned 53.9% over the past year.


Shareholder returns

FMBIIndustryMarket
7 Day-0.05%0.03%1.3%
30 Day-5.3%0.7%3.3%
90 Day19.0%16.6%8.9%
1 Year67.3%60.8%76.0%70.3%56.6%53.9%
3 Year-3.5%-11.9%26.0%15.1%64.4%53.6%
5 Year33.5%17.7%97.2%72.0%120.4%95.7%

Long-Term 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

Valuation

Is First Midwest Bancorp undervalued compared to its fair value and its price relative to the market?

9.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FMBI ($21.96) is trading below our estimate of fair value ($24.21)

Significantly Below Fair Value: FMBI is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: FMBI is poor value based on its PE Ratio (25.2x) compared to the US Banks industry average (13.3x).

PE vs Market: FMBI is poor value based on its PE Ratio (25.2x) compared to the US market (22.5x).


Price to Earnings Growth Ratio

PEG Ratio: FMBI is poor value based on its PEG Ratio (1.2x)


Price to Book Ratio

PB vs Industry: FMBI's PB Ratio (1x) is in line with the US Banks industry average.


Future Growth

How is First Midwest Bancorp forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

21.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FMBI's forecast earnings growth (21.3% per year) is above the savings rate (2%).

Earnings vs Market: FMBI's earnings (21.3% per year) are forecast to grow faster than the US market (18.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FMBI's revenue (8.6% per year) is forecast to grow slower than the US market (9.3% per year).

High Growth Revenue: FMBI's revenue (8.6% 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 (7.8%).


Past Performance

How has First Midwest Bancorp performed over the past 5 years?

13.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FMBI has high quality earnings.

Growing Profit Margin: FMBI's current net profit margins (15.7%) are lower than last year (28%).


Past Earnings Growth Analysis

Earnings Trend: FMBI's earnings have grown by 13.7% per year over the past 5 years.

Accelerating Growth: FMBI's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: FMBI had negative earnings growth (-50.6%) over the past year, making it difficult to compare to the Banks industry average (2.9%).


Return on Equity

High ROE: FMBI's Return on Equity (4%) is considered low.


Financial Health

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


Balance Sheet


Financial Institutions Analysis

Asset Level: FMBI's Assets to Equity ratio (7.7x) is low.

Allowance for Bad Loans: FMBI has a sufficient allowance for bad loans (163%).

Low Risk Liabilities: 88% of FMBI's liabilities are made up of primarily low risk sources of funding.

Loan Level: FMBI has an appropriate level of Loans to Assets ratio (70%).

Low Risk Deposits: FMBI's Loans to Deposits ratio (91%) is appropriate.

Level of Bad Loans: FMBI has an appropriate level of bad loans (1%).


Dividend

What is First Midwest Bancorp current dividend yield, its reliability and sustainability?

2.55%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FMBI's dividend (2.55%) is higher than the bottom 25% of dividend payers in the US market (1.24%).

High Dividend: FMBI's dividend (2.55%) is low compared to the top 25% of dividend payers in the US market (3.46%).


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 increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (64.3%), FMBI's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FMBI's dividends in 3 years are forecast to be well covered by earnings (39.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.8yrs

Average management tenure


CEO

Mike Scudder (59 yo)

12.58yrs

Tenure

US$3,949,637

Compensation

Mr. Michael L. Scudder, also known as Mike, has been the Chief Executive Officer and Director of First Midwest BanCorp, Inc. since September 14, 2008 and has been its Chairman of the Board since November 1...


CEO Compensation Analysis

Compensation vs Market: Mike's total compensation ($USD3.95M) is about average for companies of similar size in the US market ($USD5.13M).

Compensation vs Earnings: Mike's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: FMBI's management team is seasoned and experienced (5.8 years average tenure).


Board Members

Experienced Board: FMBI's board of directors are considered experienced (5.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: FMBI insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

First Midwest Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: First Midwest Bancorp, Inc.
  • Ticker: FMBI
  • Exchange: NasdaqGS
  • Founded: 1982
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$2.722b
  • Shares outstanding: 114.33m
  • Website: https://www.firstmidwest.com

Number of Employees


Location

  • First Midwest Bancorp, Inc.
  • 8750 West Bryn Mawr Avenue
  • Suite 1300
  • Chicago
  • Illinois
  • 60631-3655
  • United States

Listings


Biography

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 acc...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/04/16 22:15
End of Day Share Price2021/04/16 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


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.