Sterne Agee Maintains Buy Rating and $12 PT on First Midwest Bancorp

A report from Sterne Agee reiterates its Buy rating and $12 PT on First Midwest Bancorp

. The report states, “In this report we take a deeper look at two focal points from 3Q11 (credit metrics and NIM performance) and conclude the prospects for a significant profitability improvement over the coming year remain favorable (via lower NPAs/NCOs with expense leverage helping to offset NIM pressure).” FMBI closed Friday at $9.08.