First Midwest Bancorp, Inc. (FMBI) Reaches $24.53 After 9.00% Down Move; Advisory Services Network Has Raised Norfolk Southern (NSC) Stake

April 17, 2018 - By Henry Gaston

First Midwest Bancorp, Inc. (NASDAQ:FMBI) Logo

Advisory Services Network Llc increased Norfolk Southern Corp (NSC) stake by 27.57% reported in 2017Q4 SEC filing. Advisory Services Network Llc acquired 2,902 shares as Norfolk Southern Corp (NSC)’s stock declined 7.56%. The Advisory Services Network Llc holds 13,429 shares with $1.95 million value, up from 10,527 last quarter. Norfolk Southern Corp now has $38.30 billion valuation. The stock decreased 0.95% or $1.3 during the last trading session, reaching $135.18. About 767,909 shares traded. Norfolk Southern Corporation (NYSE:NSC) has risen 20.21% since April 17, 2017 and is uptrending. It has outperformed by 8.66% the S&P500.

The stock of First Midwest Bancorp, Inc. (NASDAQ:FMBI) is a huge mover today! The stock decreased 1.68% or $0.42 during the last trading session, reaching $24.53. About 175,203 shares traded. First Midwest Bancorp, Inc. (NASDAQ:FMBI) has risen 6.24% since April 17, 2017 and is uptrending. It has underperformed by 5.31% the S&P500.The move comes after 6 months negative chart setup for the $2.53 billion company. It was reported on Apr, 17 by Barchart.com. We have $22.32 PT which if reached, will make NASDAQ:FMBI worth $227.79M less.

Since October 26, 2017, it had 0 buys, and 5 insider sales for $2.43 million activity. 10,000 shares were sold by Squires James A, worth $1.50 million. On Thursday, October 26 Wheeler Michael Joseph sold $474,558 worth of Norfolk Southern Corporation (NYSE:NSC) or 3,568 shares. On Friday, February 16 Hurlbut Thomas E sold $142,896 worth of Norfolk Southern Corporation (NYSE:NSC) or 1,000 shares.

Advisory Services Network Llc decreased Vaneck Vectors Etf Tr stake by 29,787 shares to 30,831 valued at $803,000 in 2017Q4. It also reduced Unilever N V (NYSE:UN) stake by 13,074 shares and now owns 5,598 shares. Dbx Etf Tr (DBEU) was reduced too.

Among 30 analysts covering Norfolk Southern Corp. (NYSE:NSC), 7 have Buy rating, 5 Sell and 18 Hold. Therefore 23% are positive. Norfolk Southern Corp. had 99 analyst reports since July 28, 2015 according to SRatingsIntel. The rating was downgraded by Wolfe Research to “Peer Perform” on Wednesday, March 15. As per Thursday, November 30, the company rating was maintained by BMO Capital Markets. The company was maintained on Thursday, January 25 by JP Morgan. Barclays Capital upgraded the shares of NSC in report on Monday, December 7 to “Equal-Weight” rating. The stock of Norfolk Southern Corporation (NYSE:NSC) has “Sector Perform” rating given on Wednesday, January 24 by RBC Capital Markets. Robert W. Baird maintained the stock with “Hold” rating in Thursday, January 25 report. The stock of Norfolk Southern Corporation (NYSE:NSC) has “Sell” rating given on Thursday, March 15 by Loop Capital. The stock of Norfolk Southern Corporation (NYSE:NSC) has “Hold” rating given on Friday, April 28 by TD Securities. As per Friday, February 19, the company rating was maintained by Credit Suisse. Robert W. Baird maintained Norfolk Southern Corporation (NYSE:NSC) on Thursday, October 5 with “Hold” rating.

Investors sentiment is 0.83 in 2017 Q4. Its the same as in 2017Q3. It is the same, as 35 investors sold NSC shares while 360 reduced holdings. only 80 funds opened positions while 249 raised stakes. 197.25 million shares or 2.25% less from 201.79 million shares in 2017Q3 were reported. Gulf Int Retail Bank (Uk) Ltd accumulated 0.17% or 91,333 shares. Schulhoff & Com reported 3,715 shares. Chesley Taft & Ltd Liability Com, a Illinois-based fund reported 2,800 shares. First Tru Limited Partnership holds 148,189 shares or 0.05% of its portfolio. Cornerstone Investment Ptnrs Limited Liability Company accumulated 19,290 shares. Fort Point Ptnrs Lc holds 0.11% or 1,585 shares in its portfolio. Congress Asset Mgmt Ma invested in 44,643 shares or 0.09% of the stock. Cape Cod Five Cents Bankshares invested in 0.71% or 32,605 shares. Of Toledo Na Oh invested in 1.18% or 32,683 shares. Credit Suisse Ag stated it has 454,089 shares or 0.06% of all its holdings. Df Dent & has invested 0.01% of its portfolio in Norfolk Southern Corporation (NYSE:NSC). Moreover, Lakeview Cap Prtn Ltd Llc has 0.62% invested in Norfolk Southern Corporation (NYSE:NSC) for 5,846 shares. Markel has 229,500 shares for 0.63% of their portfolio. Two Sigma Ltd Liability Company, New York-based fund reported 4,478 shares. Wendell David invested in 1,755 shares or 0.04% of the stock.

First Midwest Bancorp, Inc. operates as a bank holding firm for First Midwest Bank that provides various banking services and products. The company has market cap of $2.53 billion. The firm accepts various deposits, such as checking, NOW, money market, and savings accounts, as well as various types of short-term and long-term certificates of deposit. It has a 25.55 P/E ratio. The Company’s loan products include working capital loans and lines of credit; accounts receivable financing; inventory and equipment financing; sector lending, including leasing, healthcare, asset lending, structured finance, and syndications; agricultural loans; and mortgages, home equity lines and loans, personal loans, specialty loans, and auto loans.

Among 9 analysts covering First Midwest Bancorp (NASDAQ:FMBI), 5 have Buy rating, 0 Sell and 4 Hold. Therefore 56% are positive. First Midwest Bancorp had 21 analyst reports since July 24, 2015 according to SRatingsIntel. The stock of First Midwest Bancorp, Inc. (NASDAQ:FMBI) has “Buy” rating given on Tuesday, November 28 by SunTrust. Jefferies maintained the shares of FMBI in report on Thursday, December 7 with “Buy” rating. PiperJaffray upgraded the shares of FMBI in report on Monday, July 24 to “Overweight” rating. As per Wednesday, January 3, the company rating was maintained by Sandler O’Neill. The rating was maintained by Jefferies with “Buy” on Friday, June 9. The rating was initiated by Stephens with “Overweight” on Friday, October 9. The stock of First Midwest Bancorp, Inc. (NASDAQ:FMBI) earned “Neutral” rating by Macquarie Research on Friday, May 13. Piper Jaffray maintained it with “Buy” rating and $28.0 target in Friday, December 1 report. The firm has “Hold” rating given on Thursday, December 21 by Keefe Bruyette & Woods. The rating was maintained by Jefferies on Friday, August 11 with “Buy”.

Investors sentiment decreased to 1.12 in Q4 2017. Its down 0.45, from 1.57 in 2017Q3. It turned negative, as 17 investors sold First Midwest Bancorp, Inc. shares while 56 reduced holdings. 19 funds opened positions while 63 raised stakes. 84.55 million shares or 2.14% more from 82.77 million shares in 2017Q3 were reported. Aqr Cap Management Limited Liability holds 0% of its portfolio in First Midwest Bancorp, Inc. (NASDAQ:FMBI) for 78,646 shares. State Of Alaska Department Of Revenue holds 0.01% in First Midwest Bancorp, Inc. (NASDAQ:FMBI) or 20,464 shares. Smithfield Trust owns 0% invested in First Midwest Bancorp, Inc. (NASDAQ:FMBI) for 410 shares. Fincl Bank Of New York Mellon invested in 0.01% or 1.33 million shares. Cornercap Investment Counsel reported 0.1% in First Midwest Bancorp, Inc. (NASDAQ:FMBI). Verition Fund Management Lc holds 11,298 shares. Great West Life Assurance Company Can reported 134,013 shares. First Midwest Comml Bank Trust Division has invested 0.11% in First Midwest Bancorp, Inc. (NASDAQ:FMBI). State Of Tennessee Treasury Department invested 0.01% of its portfolio in First Midwest Bancorp, Inc. (NASDAQ:FMBI). Johnson Financial Gru reported 0% of its portfolio in First Midwest Bancorp, Inc. (NASDAQ:FMBI). Lpl Ltd Liability Co owns 25,724 shares. Rhumbline Advisers holds 252,179 shares. Nj State Employees Deferred Compensation Plan stated it has 33,000 shares. Victory Cap Management stated it has 11,952 shares. Cna Fin Corp owns 33,701 shares.

Since December 15, 2017, it had 0 insider buys, and 8 selling transactions for $5.33 million activity. Another trade for 42,387 shares valued at $1.10M was sold by VANDERWOUDE J STEPHEN. The insider Sander Mark G sold $1.11M. $657,800 worth of First Midwest Bancorp, Inc. (NASDAQ:FMBI) was sold by OMEARA ROBERT P. 8,554 shares were sold by SCUDDER MICHAEL L, worth $224,628. $657,145 worth of First Midwest Bancorp, Inc. (NASDAQ:FMBI) was sold by MCDONNELL PATRICK J.

Analysts await First Midwest Bancorp, Inc. (NASDAQ:FMBI) to report earnings on April, 24 after the close. They expect $0.38 earnings per share, up 11.76% or $0.04 from last year’s $0.34 per share. FMBI’s profit will be $39.21M for 16.14 P/E if the $0.38 EPS becomes a reality. After $0.34 actual earnings per share reported by First Midwest Bancorp, Inc. for the previous quarter, Wall Street now forecasts 11.76% EPS growth.

Norfolk Southern Corporation (NYSE:NSC) Institutional Positions Chart

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By1 Henry Gaston

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