State Treasurer State of Michigan raised its stake in MB Financial Inc. (NASDAQ:MBFI) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,900 shares of the bank’s stock after buying an additional 300 shares during the period. State Treasurer State of Michigan’s holdings in MB Financial were worth $1,237,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Tyers Asset Management LLC purchased a new stake in MB Financial during the fourth quarter worth $124,000. Credit Agricole S A purchased a new stake in MB Financial during the fourth quarter worth $154,000. Elkfork Partners LLC purchased a new stake in MB Financial during the fourth quarter worth $170,000. Pitcairn Co. purchased a new stake in MB Financial during the fourth quarter worth $210,000. Finally, Integre Asset Management LLC purchased a new stake in MB Financial during the fourth quarter worth $210,000. 74.35% of the stock is owned by institutional investors.
MB Financial Inc. (NASDAQ:MBFI) opened at 44.39 on Monday. MB Financial Inc. has a 1-year low of $32.72 and a 1-year high of $48.47. The stock’s 50 day moving average price is $42.70 and its 200 day moving average price is $44.09. The stock 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 results on Thursday, April 27th. The bank reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. MB Financial had a return on equity of 8.37% and a net margin of 19.64%. The company had revenue of $234.82 million for the quarter, compared to analysts’ expectations of $240.47 million. During the same period in the prior year, the firm earned $0.54 earnings per share. On average, equities research analysts predict that MB Financial Inc. will post $2.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.89%. This is a boost from MB Financial’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, June 13th. MB Financial’s dividend payout ratio is 33.78%.
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A number of research firms recently weighed in on MBFI. Macquarie began coverage on MB Financial in a research report on Friday, February 17th. They issued an “outperform” rating and a $52.00 target price for the company. Jefferies Group LLC restated a “hold” rating and issued a $48.00 target price on shares of MB Financial in a research report on Sunday. Zacks Investment Research downgraded MB Financial from a “buy” rating to a “hold” rating in a research 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 research report on Monday, April 3rd. Finally, ValuEngine downgraded MB Financial from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $46.50.
In other MB Financial news, insider Mitchell Feiger sold 11,825 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $43.60, for a total transaction of $515,570.00. Following the transaction, the insider now directly owns 140,724 shares in the company, valued at $6,135,566.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James N. Hallene sold 4,877 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $44.40, for a total value of $216,538.80. Following the transaction, the director now owns 25,339 shares in the company, valued at $1,125,051.60. The disclosure for this sale can be found here. Insiders have sold 21,702 shares of company stock worth $943,609 over the last 90 days. 4.93% of the stock is owned by insiders.
MB Financial Company Profile
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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