Alpine Associates Management Inc. Acquires New Position in MB Financial Inc (MBFI)
Alpine Associates Management Inc. acquired a new position in shares of MB Financial Inc (NASDAQ:MBFI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 256,000 shares of the bank’s stock, valued at approximately $12,036,000. Alpine Associates Management Inc. owned approximately 0.30% of MB Financial at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. ING Groep NV acquired a new position in MB Financial during the second quarter worth $420,000. Chicago Capital Management LLC acquired a new position in MB Financial during the second quarter worth $7,500,000. Dimensional Fund Advisors LP raised its stake in MB Financial by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,052,742 shares of the bank’s stock worth $235,964,000 after acquiring an additional 43,922 shares in the last quarter. Brown Advisory Inc. raised its stake in MB Financial by 51.5% during the second quarter. Brown Advisory Inc. now owns 39,437 shares of the bank’s stock worth $1,842,000 after acquiring an additional 13,409 shares in the last quarter. Finally, BlackRock Inc. raised its stake in MB Financial by 4.3% during the second quarter. BlackRock Inc. now owns 9,403,590 shares of the bank’s stock worth $439,147,000 after acquiring an additional 384,850 shares in the last quarter. Hedge funds and other institutional investors own 74.26% of the company’s stock.
Several research analysts have issued reports on the company. BidaskClub lowered MB Financial from a “buy” rating to a “hold” rating in a research note on Monday, May 14th. SunTrust Banks lowered MB Financial from a “buy” rating to a “hold” rating in a research note on Friday, June 1st. DA Davidson raised their target price on MB Financial to $54.20 in a research note on Tuesday, May 22nd. ValuEngine lowered MB Financial from a “buy” rating to a “hold” rating in a research note on Monday, June 11th. Finally, Zacks Investment Research upgraded MB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, July 25th. One research analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $47.90.
Shares of NASDAQ:MBFI opened at $48.42 on Friday. MB Financial Inc has a twelve month low of $38.38 and a twelve month high of $51.59. The firm has a market capitalization of $4.08 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 1.62 and a beta of 1.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.91 and a quick ratio of 0.88.
MB Financial (NASDAQ:MBFI) last announced its earnings results on Wednesday, July 18th. The bank reported $0.68 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.68. MB Financial had a return on equity of 7.92% and a net margin of 27.78%. The company had revenue of $247.38 million during the quarter, compared to analyst estimates of $241.37 million. During the same period last year, the company posted $0.51 earnings per share. equities analysts anticipate that MB Financial Inc will post 2.86 earnings per share for the current year.
MB Financial Company Profile
MB Financial, Inc operates as a bank holding company for MB Financial Bank, N.A. that provides various financial services to small and middle market businesses, and individuals in the United States. The company operates through three segments: Banking, Leasing, and Mortgage Banking. The Banking segment offers commercial banking products, including working capital loans and lines of credit; accounts receivable financing; inventory and equipment financing; industrial revenue bond financing; ESOP financing; business acquisition loans; owner occupied real estate loans; asset-based loans; and financial, performance, and commercial letters of credit.
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