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

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A report from Sterne Agee reiterates its Buy rating and $12 PT on First Midwest Bancorp (NASDAQ: FMBI).

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.

Posted-In: Sterne AgeeAnalyst Color Earnings News Reiteration Analyst Ratings

 

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