Elkfork Partners LLC lowered its position in MB Financial Inc. (NASDAQ:MBFI) by 7.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,322 shares of the bank’s stock after selling 286 shares during the period. Elkfork Partners LLC’s holdings in MB Financial were worth $142,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Patriot Financial Partners GP LP purchased a new stake in MB Financial during the third quarter valued at about $55,884,000. The Manufacturers Life Insurance Company purchased a new stake in MB Financial during the third quarter valued at about $45,885,000. Norges Bank purchased a new stake in MB Financial during the fourth quarter valued at about $27,453,000. Russell Investments Group Ltd. bought a new position in shares of MB Financial during the fourth quarter valued at approximately $23,221,000. Finally, Northern Trust Corp increased its position in shares of MB Financial by 42.1% in the third quarter. Northern Trust Corp now owns 1,515,179 shares of the bank’s stock valued at $57,638,000 after buying an additional 448,565 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.
Shares of MB Financial Inc. (NASDAQ:MBFI) opened at 44.39 on Monday. MB Financial Inc. has a 52-week low of $32.72 and a 52-week high of $48.47. The stock’s 50 day moving average is $42.70 and its 200 day moving average is $44.09. The firm has a market capitalization of $3.71 billion, a PE ratio of 19.71 and a beta of 1.16.
MB Financial (NASDAQ:MBFI) last released its quarterly earnings data on Thursday, April 27th. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $234.82 million during the quarter, compared to the consensus estimate of $240.47 million. MB Financial had a return on equity of 8.37% and a net margin of 19.64%. During the same period in the previous year, the company posted $0.54 earnings per share. On average, equities research analysts forecast that MB Financial Inc. will post $2.64 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a $0.21 dividend. This is an increase from MB Financial’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Tuesday, June 13th. MB Financial’s payout ratio is presently 33.78%.
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Several equities analysts recently commented on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $48.00 price objective on shares of MB Financial in a research note on Sunday. ValuEngine downgraded shares of MB Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. Macquarie began coverage on shares of MB Financial in a research note on Friday, February 17th. They set an “outperform” rating and a $52.00 price target for the company. Keefe, Bruyette & Woods set a $46.00 price target on shares of MB Financial and gave the company a “hold” rating in a research note on Monday, April 3rd. Finally, Zacks Investment Research downgraded shares of MB Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $46.50.
In other MB Financial news, insider Mitchell Feiger sold 11,825 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $43.60, for a total value of $515,570.00. Following the completion of the transaction, the insider now directly owns 140,724 shares in the company, valued at $6,135,566.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James N. Hallene sold 4,877 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $44.40, for a total transaction of $216,538.80. Following the completion of the transaction, the director now owns 25,339 shares of the company’s stock, valued at $1,125,051.60. The disclosure for this sale can be found here. Insiders sold 21,702 shares of company stock valued at $943,609 over the last 90 days. 4.93% of the stock is currently 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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