Credit Agricole S A Purchases New Position in MB Financial Inc (MBFI)
Credit Agricole S A bought a new position in MB Financial Inc (NASDAQ:MBFI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,262 shares of the bank’s stock, valued at approximately $154,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Investment Management LLC raised its stake in MB Financial by 48.6% in the third quarter. BlackRock Investment Management LLC now owns 483,845 shares of the bank’s stock valued at $18,405,000 after buying an additional 158,277 shares during the last quarter. Patriot Financial Partners GP LP purchased a new stake in MB Financial during the third quarter valued at approximately $55,884,000. Ameriprise Financial Inc. raised its stake in MB Financial by 74.7% in the third quarter. Ameriprise Financial Inc. now owns 738,724 shares of the bank’s stock valued at $28,103,000 after buying an additional 315,891 shares during the last quarter. Comerica Bank raised its stake in 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 during the last quarter. 70.09% of the stock is currently owned by institutional investors and hedge funds.
MB Financial Inc (NASDAQ:MBFI) traded up 0.73% during midday trading on Friday, hitting $41.46. 216,384 shares of the stock traded hands. MB Financial Inc has a one year low of $32.72 and a one year high of $48.47. The company’s 50-day moving average is $42.64 and its 200-day moving average is $42.90. The company has a market cap of $3.46 billion, a PE ratio of 19.46 and a beta of 1.14.
MB Financial (NASDAQ:MBFI) last issued its quarterly earnings results on Thursday, January 26th. The bank reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The company had revenue of $238.04 million for the quarter, compared to analyst estimates of $252.20 million. MB Financial had a return on equity of 8.33% and a net margin of 18.78%. Equities research analysts expect that MB Financial Inc will post $2.60 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, March 13th. This represents a $0.76 annualized dividend and a yield of 1.85%. MB Financial’s dividend payout ratio (DPR) is 35.68%.
Several analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of MB Financial from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Tuesday, April 11th. Jefferies Group LLC reiterated a “hold” rating and issued a $48.00 target price on shares of MB Financial in a report on Tuesday, April 4th. 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. Finally, Macquarie started coverage on shares of MB Financial in a research note on Friday, February 17th. They issued an “outperform” rating and a $52.00 price target for the company. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $45.81.
In related news, insider Brian J. Wildman sold 5,382 shares of the company’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $44.92, for a total transaction of $241,759.44. Following the transaction, the insider now owns 27,281 shares in the company, valued at approximately $1,225,462.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James N. Hallene sold 9,258 shares of the company’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $45.00, for a total transaction of $416,610.00. Following the transaction, the director now owns 23,247 shares in the company, valued at approximately $1,046,115. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,582 shares of company stock worth $883,011. 7.05% of the stock is owned by corporate insiders.
About MB Financial
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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