MB Financial Inc. (MBFI) Downgraded by Zacks Investment Research
MB Financial Inc. (NASDAQ:MBFI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “MB Financial, Inc. is a bank holding company which conducts a commercial banking business through Manufacturers Bank. “
A number of other research firms have also recently commented on MBFI. Sandler O’Neill cut shares of MB Financial from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. DA Davidson lifted their target price on shares of MB Financial from $39.19 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, August 26th. JPMorgan Chase & Co. lifted their target price on shares of MB Financial from $35.50 to $36.50 and gave the stock a “neutral” rating in a research note on Thursday, July 7th. Finally, JMP Securities initiated coverage on shares of MB Financial in a research report on Friday, September 16th. They set a “market perform” rating for the company. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. MB Financial has a consensus rating of “Hold” and a consensus target price of $36.28.
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MB Financial (NASDAQ:MBFI) traded down 2.51% during trading on Thursday, hitting $36.96. 440,199 shares of the company’s stock were exchanged. MB Financial has a 12-month low of $27.98 and a 12-month high of $39.50. The company’s 50-day moving average price is $38.24 and its 200 day moving average price is $36.36. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 17.26 and a beta of 1.06.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Tuesday, September 13th. MB Financial’s dividend payout ratio (DPR) is presently 35.68%.
In other news, Director Thomas H. Harvey sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $37.96, for a total transaction of $759,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rose Marie Bouman sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $38.98, for a total value of $155,920.00. Following the sale, the insider now owns 68,607 shares of the company’s stock, valued at approximately $2,674,300.86. The disclosure for this sale can be found here. Insiders own 7.05% of the company’s stock.
Several large investors have recently added to or reduced their stakes in MBFI. Trust Department MB Financial Bank N A boosted its stake in MB Financial by 2.3% in the second quarter. Trust Department MB Financial Bank N A now owns 705,860 shares of the company’s stock valued at $24,310,000 after buying an additional 15,943 shares during the period. Wellington Management Group LLP boosted its position in MB Financial by 33.3% in the first quarter. Wellington Management Group LLP now owns 2,888,141 shares of the company’s stock valued at $93,720,000 after buying an additional 721,226 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in MB Financial by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,795,095 shares of the company’s stock valued at $58,251,000 after buying an additional 12,360 shares during the last quarter. Wesbanco Bank Inc. acquired a new position in MB Financial during the second quarter valued at about $424,000. Finally, Principal Financial Group Inc. boosted its position in MB Financial by 3.1% in the second quarter. Principal Financial Group Inc. now owns 496,424 shares of the company’s stock valued at $18,011,000 after buying an additional 14,743 shares during the last quarter. Institutional investors and hedge funds own 64.18% of the company’s stock.
MB Financial Company Profile
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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