Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

First Midwest Bancorp Inc (FMBI): Insiders Aren’t Crazy About It

Page 1 of 2

Is First Midwest Bancorp Inc (NASDAQ:FMBI) ready to rally soon? Money managers are in a bearish mood. The number of bullish hedge fund bets stayed the same which is a slightly negative development in our experience

First Midwest Bancorp Inc (NASDAQ:FMBI)

To the average investor, there are dozens of gauges shareholders can use to watch stocks. A duo of the most useful are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the top money managers can trounce their index-focused peers by a very impressive margin (see just how much).

Equally as important, bullish insider trading sentiment is another way to break down the investments you’re interested in. As the old adage goes: there are a variety of incentives for a corporate insider to get rid of shares of his or her company, but just one, very simple reason why they would buy. Plenty of academic studies have demonstrated the impressive potential of this strategy if investors understand where to look (learn more here).

Consequently, we’re going to take a glance at the recent action regarding First Midwest Bancorp Inc (NASDAQ:FMBI).

What does the smart money think about First Midwest Bancorp Inc (NASDAQ:FMBI)?

At Q1’s end, a total of 13 of the hedge funds we track held long positions in this stock, a change of 0% from one quarter earlier. With hedge funds’ positions undergoing their usual ebb and flow, there exists an “upper tier” of key hedge fund managers who were boosting their stakes significantly.

Of the funds we track, Ken Fisher’s Fisher Asset Management had the largest position in First Midwest Bancorp Inc (NASDAQ:FMBI), worth close to $25.7 million, comprising 0.1% of its total 13F portfolio. Coming in second is David Dreman of Dreman Value Management, with a $11 million position; 0.3% of its 13F portfolio is allocated to the company. Some other hedge funds that are bullish include Ken Griffin’s Citadel Investment Group, Israel Englander’s Millennium Management and Jim Simons’s Renaissance Technologies.

Seeing as First Midwest Bancorp Inc (NASDAQ:FMBI) has experienced bearish sentiment from the smart money, it’s safe to say that there exists a select few fund managers who sold off their entire stakes heading into Q2. Intriguingly, Steven Cohen’s SAC Capital Advisors sold off the biggest investment of all the hedgies we monitor, comprising about $0.2 million in stock. These moves are intriguing to say the least, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

How are insiders trading First Midwest Bancorp Inc (NASDAQ:FMBI)?

Bullish insider trading is at its handiest when the company we’re looking at has experienced transactions within the past six months. Over the latest half-year time frame, First Midwest Bancorp Inc (NASDAQ:FMBI) has seen zero unique insiders purchasing, and 1 insider sales (see the details of insider trades here).

Let’s check out hedge fund and insider activity in other stocks similar to First Midwest Bancorp Inc (NASDAQ:FMBI). These stocks are MB Financial, Inc. (NASDAQ:MBFI), Citizens Republic Bancorp Inc (NASDAQ:CRBC), Park National Corporation (NYSEAMEX:PRK), First Financial Bancorp (NASDAQ:FFBC), and National Bank Holdings Corp (NYSE:NBHC). This group of stocks belong to the regional – midwest banks industry and their market caps are closest to FMBI’s market cap.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!