First Midwest (FMBI) Price Target/ EPS Estimates Decreased
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Price: $21.51 --0%
Rating Summary:
5 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Analysts at Jefferies equity research maintained their BUY rating but lowered their price target on First Midwest (NASDAQ: FMBI). The target was decrease by $1 from $14 to $13 per share.
First Midwest is a regional bank targeting the suburban areas of Chicago. The company reported earning Wednesday, and the results were not remarkable, according to analysts.
“Our 2012 EPS estimate goes to $0.55 (from $0.70) as charge-offs are expected to remain near 1Q levels as opposed to running down through the year,” stated a Jefferies Company note. “Our 2013 estimate goes to $1.05 (from $1.10), as core earnings power remains largely intact, though fees looked a bit light in the quarter, and we wouldn't be surprised if some credit expense drags into 2013.”
One positive for the stock is its long term earnings power. The company also trades at a discount to its peers.
For an analyst ratings summary and ratings history on First Midwest Bancorp click here. For more ratings news on First Midwest Bancorp click here.
Shares of First Midwest Bancorp closed at $10.90 yesterday.
First Midwest is a regional bank targeting the suburban areas of Chicago. The company reported earning Wednesday, and the results were not remarkable, according to analysts.
“Our 2012 EPS estimate goes to $0.55 (from $0.70) as charge-offs are expected to remain near 1Q levels as opposed to running down through the year,” stated a Jefferies Company note. “Our 2013 estimate goes to $1.05 (from $1.10), as core earnings power remains largely intact, though fees looked a bit light in the quarter, and we wouldn't be surprised if some credit expense drags into 2013.”
One positive for the stock is its long term earnings power. The company also trades at a discount to its peers.
For an analyst ratings summary and ratings history on First Midwest Bancorp click here. For more ratings news on First Midwest Bancorp click here.
Shares of First Midwest Bancorp closed at $10.90 yesterday.
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