Market Overview

UPDATE: FIG Partners Downgrades First Midwest Bancorp to Market-Perform Following Price Appreciation

Share:
Related FMBI
Miller Tabak Offers 'Optimistic Case' Scenario for Interest Rates Being Increased 2016
Earnings Scheduled For January 20, 2015

FIG Partners lowered its rating on First Midwest Bancorp (NASDAQ: FMBI) from Outperform to Market Perform with a reiterated $12 price target.

FIG Partners commented, "We are lowering our investment rating on First Midwest to ‘MarketPerform' from ‘Outperform' based solely on stock price appreciation. Our price target remains unchanged at $12/share. … First Midwest remains one of the more attractive Chicago-based franchises with a strong deposit base and improving core loan growth trends. While we think the Company will remain independent for the foreseeable future the FMBI franchise remains an attractive potential target for larger regional banks looking to expand their Chicago presence."

First Midwest Bancorp closed at $11.78 on Monday.

Latest Ratings for FMBI

DateFirmActionFromTo
Jun 2015SunTrust Robinson HumphreyMaintainsNeutral
Apr 2015Keefe Bruyette & WoodsMaintainsMarket Perform
Mar 2015Miller TabakUpgradesHoldBuy

View More Analyst Ratings for FMBI
View the Latest Analyst Ratings

Posted-In: FIG PartnersAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (FMBI)

Around the Web, We're Loving...

Get Benzinga's Newsletters