Dynamic Technology Lab Private Ltd acquired a new stake in MB Financial Inc (NASDAQ:MBFI) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,590 shares of the bank’s stock, valued at approximately $496,000.
Other hedge funds also recently added to or reduced their stakes in the company. Tyers Asset Management LLC bought a new stake in shares of MB Financial during the fourth quarter worth $124,000. Credit Agricole S A acquired a new stake in MB Financial during the fourth quarter worth approximately $154,000. Elkfork Partners LLC acquired a new stake in MB Financial during the fourth quarter worth approximately $170,000. Pitcairn Co. acquired a new stake in MB Financial during the fourth quarter worth approximately $210,000. Finally, Integre Asset Management LLC acquired a new stake in MB Financial during the fourth quarter worth approximately $210,000. Institutional investors own 70.09% of the company’s stock.
MB Financial Inc (NASDAQ MBFI) traded up 3.45% during midday trading on Friday, hitting $44.39. The company had a trading volume of 437,637 shares. MB Financial Inc has a 52-week low of $32.72 and a 52-week high of $48.47. The stock has a 50 day moving average of $42.70 and a 200 day moving average of $44.09. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 19.71 and a beta of 1.14.
MB Financial (NASDAQ:MBFI) last posted its quarterly earnings results on Thursday, April 27th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The company had revenue of $234.82 million for the quarter, compared to analysts’ expectations of $240.47 million. MB Financial had a return on equity of 8.33% and a net margin of 18.78%. During the same quarter in the prior year, the company earned $0.54 earnings per share. On average, analysts anticipate that MB Financial Inc will post $2.64 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a $0.21 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.89%. This is a boost from MB Financial’s previous quarterly dividend of $0.19. MB Financial’s dividend payout ratio is currently 35.68%.
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MBFI has been the subject of several recent research reports. Macquarie initiated coverage on MB Financial in a research report on Friday, February 17th. They set an “outperform” rating and a $52.00 price target for the company. Jefferies Group LLC reissued a “hold” rating and issued a $48.00 price objective on shares of MB Financial in a report on Sunday. Zacks Investment Research lowered MB Financial from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Keefe, Bruyette & Woods set a $46.00 price objective on MB Financial and gave the company a “hold” rating in a report on Monday, April 3rd. Finally, ValuEngine lowered MB Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. MB Financial presently has a consensus rating of “Hold” and a consensus target price of $46.50.
In other MB Financial news, Director James N. Hallene sold 4,877 shares of MB Financial stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $44.40, for a total transaction of $216,538.80. Following the transaction, the director now directly owns 25,339 shares in the company, valued at approximately $1,125,051.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jill E. York sold 5,000 shares of MB Financial stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $42.30, for a total transaction of $211,500.00. Following the transaction, the vice president now owns 71,525 shares in the company, valued at $3,025,507.50. The disclosure for this sale can be found here. Insiders sold 21,702 shares of company stock worth $943,609 in the last ninety days. 7.05% of the stock is owned by corporate insiders.
About MB Financial
MB Financial, Inc (MB Financial) is a financial holding company. The Company’s segments include banking, leasing and mortgage banking. As of December 31, 2016, the Company’s primary market was the Chicago metropolitan area, in which the Company operated 95 banking offices through its bank subsidiary, MB Financial Bank, N.A.
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