MB Financial Inc (NASDAQ:MBFI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, May 3rd.
According to Zacks, “MB Financial, Inc. is a bank holding company which conducts a commercial banking business through Manufacturers Bank. “
A number of other equities research analysts have also recently commented on MBFI. Macquarie began coverage on shares of MB Financial in a report on Friday, February 17th. They issued an “outperform” rating and a $52.00 target price for the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $48.00 target price on shares of MB Financial in a report on Tuesday, April 4th. Finally, Keefe, Bruyette & Woods set a $46.00 target price on shares of MB Financial and gave the company a “hold” rating in a report on Monday, April 3rd. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $45.81.
Shares of MB Financial (NASDAQ:MBFI) traded down 0.50% during mid-day trading on Wednesday, hitting $41.88. The company had a trading volume of 257,000 shares. MB Financial has a 1-year low of $32.72 and a 1-year high of $48.47. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 18.60 and a beta of 1.14. The company has a 50-day moving average price of $42.48 and a 200-day moving average price of $44.10.
MB Financial (NASDAQ:MBFI) last announced its earnings results on Thursday, April 27th. The bank reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. MB Financial had a net margin of 18.78% and a return on equity of 8.33%. The business had revenue of $234.82 million during the quarter, compared to analysts’ expectations of $240.47 million. During the same period in the prior year, the company earned $0.54 earnings per share. On average, equities analysts anticipate that MB Financial will post $2.64 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be given a dividend of $0.21 per share. This is a positive change from MB Financial’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 2.01%. The ex-dividend date is Tuesday, June 13th. MB Financial’s dividend payout ratio is presently 35.68%.
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In other MB Financial news, insider Mitchell Feiger sold 11,825 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.05% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Credit Agricole S A bought a new position in shares of MB Financial during the fourth quarter valued at $154,000. AQR Capital Management LLC raised its position in shares of MB Financial by 51.3% in the fourth quarter. AQR Capital Management LLC now owns 75,065 shares of the bank’s stock valued at $3,545,000 after buying an additional 25,439 shares during the last quarter. Patriot Financial Partners GP LP bought a new position in shares of MB Financial during the third quarter valued at $55,884,000. Comerica Bank raised its position in shares of MB Financial by 6.4% in the fourth quarter. Comerica Bank now owns 52,609 shares of the bank’s stock valued at $2,420,000 after buying an additional 3,162 shares during the last quarter. Finally, BlackRock Advisors LLC raised its stake in MB Financial by 16.8% in the third quarter. BlackRock Advisors LLC now owns 38,382 shares of the bank’s stock valued at $1,460,000 after buying an additional 5,527 shares in the last quarter. Institutional investors own 70.09% of the company’s stock.
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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