MB Financial Inc. (MBFI) Upgraded to “Buy” at 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 Wednesday. The brokerage presently has a $49.00 price objective on the stock. Zacks Investment Research’s price objective points to a potential upside of 12.44% from the company’s current price.
According to Zacks, “MB Financial, Inc. is a bank holding company which conducts a commercial banking business through Manufacturers Bank. “
MBFI has been the topic of a number of other reports. Jefferies Group restated a “hold” rating and set a $39.00 target price on shares of MB Financial in a research report on Tuesday, November 1st. Sandler O’Neill downgraded shares of MB Financial from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. JMP Securities assumed coverage on shares of MB Financial in a research report on Friday, September 16th. They set a “market perform” rating on the stock. Finally, DA Davidson upped their target price on shares of MB Financial from $39.19 to $43.00 and gave the company a “neutral” rating in a research report on Friday, August 26th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $37.94.
Shares of MB Financial (NASDAQ:MBFI) opened at 43.58 on Wednesday. The company’s 50 day moving average is $38.18 and its 200 day moving average is $37.38. The firm has a market capitalization of $3.38 billion, a PE ratio of 20.08 and a beta of 1.07. MB Financial has a 12-month low of $27.98 and a 12-month high of $43.59.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.74%. MB Financial’s dividend payout ratio is 35.19%.
In related news, CEO Mitchell Feiger sold 6,500 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $38.69, for a total transaction of $251,485.00. Following the completion of the sale, the chief executive officer now directly owns 119,997 shares of the company’s stock, valued at approximately $4,642,683.93. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jill E. York sold 5,000 shares of the 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 directly owns 69,889 shares of the company’s stock, valued at $2,729,165.45. The disclosure for this sale can be found here. 7.05% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in MB Financial by 9.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,699 shares of the company’s stock worth $103,000 after buying an additional 242 shares during the last quarter. Victory Capital Management Inc. boosted its stake in 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 last quarter. LS Investment Advisors LLC boosted its stake in MB Financial by 87.3% in the third quarter. LS Investment Advisors LLC now owns 4,607 shares of the company’s stock worth $175,000 after buying an additional 2,147 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in MB Financial during the third quarter worth about $194,000. Finally, Nomura Holdings Inc. acquired a new stake in MB Financial during the second quarter worth about $209,000. 67.27% of the stock is owned by institutional investors and hedge funds.
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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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