MB Financial Inc. (MBFI) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of MB Financial Inc. (NASDAQ:MBFI) from a sell rating to a hold rating in a report issued on Wednesday morning.
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 also recently commented on MBFI. Keefe, Bruyette & Woods restated a hold rating and set a $45.00 price objective on shares of MB Financial in a report on Tuesday, August 29th. Jefferies Group LLC restated a hold rating and set a $48.00 price objective on shares of MB Financial in a report on Sunday, June 11th. Hovde Group dropped their price objective on MB Financial from $49.00 to $45.00 and set a market perform rating for the company in a report on Monday, July 24th. BidaskClub downgraded MB Financial from a sell rating to a strong sell rating in a report on Friday, July 28th. Finally, Piper Jaffray Companies downgraded MB Financial from an overweight rating to a neutral rating and set a $44.00 price objective for the company. in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $47.56.
MB Financial (NASDAQ:MBFI) traded up 0.22% on Wednesday, hitting $45.02. The stock had a trading volume of 475,711 shares. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 20.54 and a beta of 1.14. The company’s 50-day moving average price is $40.22 and its 200 day moving average price is $42.12. MB Financial has a one year low of $35.00 and a one year high of $48.47.
MB Financial (NASDAQ:MBFI) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.10). The firm had revenue of $239.51 million for the quarter, compared to analyst estimates of $247.39 million. MB Financial had a return on equity of 7.99% and a net margin of 19.12%. During the same quarter in the previous year, the company earned $0.58 earnings per share. Analysts expect that MB Financial will post $2.44 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.84 annualized dividend and a yield of 1.87%. MB Financial’s dividend payout ratio is currently 38.36%.
In related news, Director Ronald D. Santo sold 2,542 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $39.78, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.05% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in MBFI. Great West Life Assurance Co. Can increased its holdings in MB Financial by 2.3% in 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 purchasing an additional 921 shares in the last quarter. US Bancorp DE increased its holdings in MB Financial by 26.2% in the 1st quarter. US Bancorp DE now owns 6,990 shares of the bank’s stock valued at $300,000 after purchasing an additional 1,449 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in MB Financial by 4.5% in 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 purchasing an additional 47,122 shares in the last quarter. Suntrust Banks Inc. acquired a new stake in MB Financial in the 1st quarter valued at $212,000. Finally, Comerica Bank increased its holdings in MB Financial by 4.7% in the 1st quarter. Comerica Bank now owns 55,068 shares of the bank’s stock valued at $2,373,000 after purchasing an additional 2,459 shares in the last quarter. Hedge funds and other institutional investors own 74.75% 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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