MB Financial Inc. (MBFI) Stock Rating Upgraded by Zacks Investment Research
MB Financial Inc. (NASDAQ:MBFI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage presently has a $42.00 price objective on the stock. Zacks Investment Research’s target price points to a potential upside of 10.12% from the stock’s previous close.
According to Zacks, “MB Financial, Inc. is a bank holding company which conducts a commercial banking business through Manufacturers Bank. “
MBFI has been the subject of a number of other research reports. JMP Securities started coverage on MB Financial in a research note on Friday, September 16th. They issued a “market perform” rating for the company. Sandler O’Neill lowered MB Financial from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. JPMorgan Chase & Co. raised their price objective on MB Financial from $35.50 to $36.50 and gave the company a “neutral” rating in a research note on Thursday, July 7th. DA Davidson raised their price objective on MB Financial from $39.19 to $43.00 and gave the company a “neutral” rating in a research note on Friday, August 26th. Finally, Piper Jaffray Cos. initiated coverage on MB Financial in a research note on Friday, June 10th. They set an “overweight” rating and a $41.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $36.28.
Shares of MB Financial (NASDAQ:MBFI) opened at 38.14 on Friday. MB Financial has a 1-year low of $27.98 and a 1-year high of $39.50. The stock’s 50 day moving average price is $38.38 and its 200 day moving average price is $36.33. The stock has a market cap of $2.80 billion, a PE ratio of 17.81 and a beta of 1.06.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Tuesday, September 13th. MB Financial’s dividend payout ratio (DPR) is 35.68%.
In related news, VP Jill E. York sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $39.05, for a total value of $195,250.00. Following the sale, the vice president now owns 69,889 shares of the company’s stock, valued at approximately $2,729,165.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian J. Wildman sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $38.42, for a total value of $153,680.00. Following the completion of the sale, the insider now directly owns 31,155 shares in the company, valued at approximately $1,196,975.10. The disclosure for this sale can be found here. 7.05% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in MBFI. Victory Capital Management Inc. increased its stake in shares of MB Financial by 77.2% in the second quarter. Victory Capital Management Inc. now owns 3,130 shares of the company’s stock valued at $114,000 after buying an additional 1,364 shares during the period. Huntington Asset Advisors Inc. bought a new stake in shares of MB Financial during the first quarter valued at about $165,000. BlackRock Inc. increased its stake in shares of MB Financial by 140.4% in the first quarter. BlackRock Inc. now owns 5,156 shares of the company’s stock valued at $168,000 after buying an additional 3,011 shares during the period. Nomura Holdings Inc. bought a new stake in shares of MB Financial during the second quarter valued at about $209,000. Finally, Shelton Capital Management bought a new stake in shares of MB Financial during the second quarter valued at about $211,000. 64.18% of the stock is currently owned by institutional investors and hedge funds.
MB Financial Company Profile
MB Financial, Inc is a financial holding company. The Company, through its bank subsidiary, MB Financial Bank, N.A., offers a range of financial services to small and middle market businesses, and individuals. The Company’s segments include banking, leasing and mortgage banking. Its banking segment includes lending and deposit gathering activities.
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