Zacks: Analysts Anticipate MB Financial Inc. (MBFI) Will Post Quarterly Sales of $253.24 Million
Wall Street brokerages expect MB Financial Inc. (NASDAQ:MBFI) to announce sales of $253.24 million for the current quarter, according to Zacks. Seven analysts have made estimates for MB Financial’s earnings. The highest sales estimate is $259.50 million and the lowest is $244.30 million. MB Financial reported sales of $234.16 million during the same quarter last year, which would suggest a positive year over year growth rate of 8.1%. The business is scheduled to announce its next quarterly earnings results on Thursday, October 19th.
On average, analysts expect that MB Financial will report full year sales of $253.24 million for the current fiscal year, with estimates ranging from $970.50 million to $1.01 billion. For the next financial year, analysts expect that the firm will post sales of $1.05 billion per share, with estimates ranging from $1.03 billion to $1.08 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for MB Financial.
MB Financial (NASDAQ:MBFI) last posted its earnings results on Thursday, July 20th. The bank reported $0.54 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.10). MB Financial had a net margin of 19.12% and a return on equity of 7.99%. The business had revenue of $239.51 million during the quarter, compared to analyst estimates of $247.39 million. During the same quarter in the prior year, the business earned $0.58 earnings per share.
Several research analysts have recently commented on MBFI shares. ValuEngine downgraded MB Financial from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. Jefferies Group LLC reissued a “hold” rating and issued a $48.00 target price on shares of MB Financial in a report on Sunday, June 11th. BidaskClub raised MB Financial from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Wedbush reaffirmed a “neutral” rating and set a $48.00 price objective on shares of MB Financial in a report on Tuesday, June 27th. Finally, 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 report on Tuesday, July 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $47.56.
Shares of MB Financial (NASDAQ:MBFI) traded up 0.02% during trading on Friday, hitting $42.81. The stock had a trading volume of 36,972 shares. MB Financial has a 52 week low of $35.00 and a 52 week high of $48.47. The stock’s 50 day moving average is $40.22 and its 200 day moving average is $42.12. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 19.53 and a beta of 1.14.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, September 14th. MB Financial’s dividend payout ratio is 38.36%.
In other MB Financial news, Director Ronald D. Santo sold 2,542 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $39.78, for a total transaction of $101,120.76. Following the transaction, the director now owns 59,505 shares of the company’s stock, valued at approximately $2,367,108.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 7.05% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of MBFI. Capstone Asset Management Co. raised its position in shares of MB Financial by 5.8% during the 1st quarter. Capstone Asset Management Co. now owns 4,938 shares of the bank’s stock valued at $211,000 after acquiring an additional 270 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of MB Financial by 2.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 41,268 shares of the bank’s stock valued at $1,767,000 after acquiring an additional 921 shares during the last quarter. US Bancorp DE raised its position in shares of MB Financial by 26.2% during the 1st quarter. US Bancorp DE now owns 6,990 shares of the bank’s stock valued at $300,000 after acquiring an additional 1,449 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of MB Financial by 4.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,092,300 shares of the bank’s stock valued at $46,772,000 after acquiring an additional 47,122 shares during the last quarter. Finally, Suntrust Banks Inc. bought a new stake in shares of MB Financial during the 1st quarter valued at $212,000. Institutional investors own 74.74% of the company’s stock.
MB Financial Company 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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