Bank of New York Mellon Corp Has $48.93 Million Holdings in MB Financial Inc. (MBFI)
Bank of New York Mellon Corp boosted its stake in shares of MB Financial Inc. (NASDAQ:MBFI) by 1.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,110,951 shares of the bank’s stock after acquiring an additional 18,651 shares during the quarter. Bank of New York Mellon Corp owned about 1.33% of MB Financial worth $48,926,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of MBFI. BlackRock Inc. increased its stake in MB Financial by 17,590.9% during the first quarter. BlackRock Inc. now owns 7,742,414 shares of the bank’s stock worth $331,530,000 after acquiring an additional 7,698,649 shares during the last quarter. Vanguard Group Inc. increased its stake in MB Financial by 8.6% during the first quarter. Vanguard Group Inc. now owns 6,427,280 shares of the bank’s stock worth $275,215,000 after acquiring an additional 510,128 shares during the last quarter. Wells Fargo & Company MN increased its stake in MB Financial by 197.2% during the first quarter. Wells Fargo & Company MN now owns 446,257 shares of the bank’s stock worth $19,109,000 after acquiring an additional 296,089 shares during the last quarter. Monarch Partners Asset Management LLC bought a new stake in MB Financial during the second quarter worth approximately $7,918,000. Finally, State Street Corp increased its stake in MB Financial by 4.6% during the first quarter. State Street Corp now owns 3,637,900 shares of the bank’s stock worth $155,776,000 after acquiring an additional 159,350 shares during the last quarter. 74.74% of the stock is currently owned by institutional investors.
Several brokerages have weighed in on MBFI. Zacks Investment Research raised MB Financial from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Tuesday, July 4th. BidaskClub raised MB Financial from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Jefferies Group LLC reaffirmed a “hold” rating and set a $48.00 target price on shares of MB Financial in a research note on Sunday, June 11th. Wedbush reaffirmed a “neutral” rating and set a $48.00 target price on shares of MB Financial in a research note on Tuesday, June 27th. Finally, ValuEngine cut MB Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. MB Financial presently has an average rating of “Hold” and an average target price of $47.56.
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In other MB Financial news, Director James N. Hallene sold 4,877 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $44.40, for a total value of $216,538.80. Following the sale, the director now owns 25,339 shares of the company’s stock, valued at $1,125,051.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald D. Santo sold 2,542 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $39.78, for a total transaction of $101,120.76. Following the completion of the sale, the director now directly owns 59,505 shares in the company, valued at approximately $2,367,108.90. The disclosure for this sale can be found here. 4.93% of the stock is owned by corporate insiders.
MB Financial Inc. (MBFI) opened at 39.78 on Tuesday. The stock’s 50 day moving average price is $40.47 and its 200-day moving average price is $42.54. MB Financial Inc. has a 1-year low of $35.00 and a 1-year high of $48.47. The company has a market cap of $3.34 billion, a PE ratio of 18.15 and a beta of 1.14.
MB Financial (NASDAQ:MBFI) last issued its earnings results on Thursday, July 20th. The bank reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.64 by $0.10. MB Financial had a return on equity of 7.99% and a net margin of 19.12%. The company had revenue of $239.51 million for the quarter, compared to analyst estimates of $247.39 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. On average, analysts forecast that MB Financial Inc. will post $2.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.84 annualized dividend and a yield of 2.11%. MB Financial’s payout ratio is currently 38.36%.
MB Financial 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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