MB Financial Inc. (MBFI) Lowered to “Hold” at Zacks Investment Research
According to Zacks, “MB Financial, Inc. is a bank holding company which conducts a commercial banking business through Manufacturers Bank. “
A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of MB Financial from $35.50 to $36.50 and gave the stock a neutral rating in a research note on Thursday, July 7th. DA Davidson upped their price objective on shares of MB Financial from $39.19 to $43.00 and gave the stock a neutral rating in a research note on Friday, August 26th. JMP Securities started coverage on shares of MB Financial in a research note on Friday, September 16th. They issued a market perform rating for the company. Finally, Sandler O’Neill lowered shares of MB Financial from a buy rating to a hold rating in a research note on Friday, August 26th. Eight research analysts have rated the stock with a hold rating and three have assigned 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) traded up 0.97% during mid-day trading on Thursday, hitting $37.32. 42,637 shares of the stock were exchanged. The stock has a market cap of $2.74 billion, a PE ratio of 17.43 and a beta of 1.06. The stock’s 50 day moving average is $38.24 and its 200-day moving average is $36.36. MB Financial has a 12 month low of $27.98 and a 12 month high of $39.50.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.76 dividend on an annualized basis and a yield of 2.06%. MB Financial’s payout ratio is currently 35.68%.
In other MB Financial news, CEO Mitchell Feiger sold 6,500 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $38.69, for a total value of $251,485.00. Following the transaction, the chief executive officer now owns 119,997 shares in the company, valued at approximately $4,642,683.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jill E. York sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $39.05, for a total value of $195,250.00. Following the completion of the transaction, the vice president now owns 69,889 shares in the company, valued at approximately $2,729,165.45. The disclosure for this sale can be found here. 7.05% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. 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 worth $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 worth 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 worth $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 worth about $209,000. Finally, Shelton Capital Management bought a new stake in shares of MB Financial during the second quarter worth about $211,000. 64.18% of the stock is owned by institutional investors and hedge funds.
About MB Financial
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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