MB Financial Inc. (MBFI) Raised to “Buy” at Zacks Investment Research
MB Financial Inc. (NASDAQ:MBFI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm currently has a $42.00 target price on the stock. Zacks Investment Research’s target price indicates a potential upside of 10.70% from the stock’s previous close.
According to Zacks, “MB Financial, Inc. is a bank holding company which conducts a commercial banking business through Manufacturers Bank. “
Several other brokerages also recently commented on MBFI. JPMorgan Chase & Co. reiterated a “hold” rating on shares of MB Financial in a research report on Saturday, July 9th. Sandler O’Neill downgraded MB Financial from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. JMP Securities began coverage on MB Financial in a research report on Friday, September 16th. They set a “market perform” rating for the company. DA Davidson lifted their price target on MB Financial from $39.19 to $43.00 and gave the company a “neutral” rating in a research report on Friday, August 26th. Finally, Piper Jaffray Cos. began coverage on MB Financial in a research report on Friday, June 10th. They set an “overweight” rating and a $41.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $36.28.
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Shares of MB Financial (NASDAQ:MBFI) traded up 0.08% during mid-day trading on Friday, reaching $37.94. The company had a trading volume of 563,128 shares. MB Financial has a 12-month low of $27.98 and a 12-month high of $39.50. The stock has a 50 day moving average price of $38.40 and a 200 day moving average price of $36.24. The firm has a market capitalization of $2.79 billion, a PE ratio of 17.72 and a beta of 1.06.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Tuesday, September 13th. MB Financial’s payout ratio is currently 35.68%.
In other MB Financial news, CFO Jill E. York sold 2,500 shares of the stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $37.26, for a total transaction of $93,150.00. Following the transaction, the chief financial officer now directly owns 75,438 shares in the company, valued at $2,810,819.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jill E. York sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $39.05, for a total transaction of $195,250.00. Following the completion of the transaction, the vice president now owns 69,889 shares in the company, valued at approximately $2,729,165.45. The disclosure for this sale can be found here. Company insiders own 7.05% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of MBFI. Victory Capital Management Inc. boosted its position in shares of MB Financial by 77.2% in the second quarter. Victory Capital Management Inc. now owns 3,130 shares of the company’s stock valued at $114,000 after buying an additional 1,364 shares in the last quarter. Huntington Asset Advisors Inc. purchased a new position in shares of MB Financial during the first quarter valued at about $165,000. BlackRock Inc. boosted its position in shares of MB Financial by 140.4% in the first quarter. BlackRock Inc. now owns 5,156 shares of the company’s stock valued at $168,000 after buying an additional 3,011 shares in the last quarter. Nomura Holdings Inc. purchased a new position in shares of MB Financial during the second quarter valued at about $209,000. Finally, Shelton Capital Management purchased a new position in shares of MB Financial during the second quarter valued at about $211,000. Hedge funds and other institutional investors own 64.18% of the company’s stock.
About MB Financial
MB Financial, Inc is a financial holding company. The Company, through its bank subsidiary, MB Financial Bank, N.A., offers a range of financial services to small and middle market businesses, and individuals. The Company’s segments include banking, leasing and mortgage banking. Its banking segment includes lending and deposit gathering activities.
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