MB Financial Inc. (MBFI) Lowered to Hold at 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 report issued to clients and investors 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 equities analysts also recently weighed in on MBFI. 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. 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. Sandler O’Neill downgraded shares of MB Financial from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. Finally, JMP Securities initiated coverage on shares of MB Financial in a research note on Friday, September 16th. They set a “market perform” rating for the company. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. MB Financial currently has a consensus rating of “Hold” and an average target price of $36.28.
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Shares of MB Financial (NASDAQ:MBFI) traded down 2.51% on Thursday, reaching $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 firm’s 50-day moving average price is $38.24 and its 200 day moving average price is $36.36. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 17.26 and a beta of 1.06.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Tuesday, September 13th. MB Financial’s dividend payout ratio is presently 35.68%.
In other news, CEO Mitchell Feiger sold 6,500 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $38.69, for a total value of $251,485.00. Following the sale, the chief executive officer now directly owns 119,997 shares of the company’s stock, valued at approximately $4,642,683.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas H. Harvey sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $37.96, for a total transaction of $759,200.00. The disclosure for this sale can be found here. 7.05% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in MB Financial by 77.2% in the second quarter. Victory Capital Management Inc. now owns 3,130 shares of the company’s stock worth $114,000 after buying an additional 1,364 shares in the last quarter. Huntington Asset Advisors Inc. acquired a new stake in MB Financial during the first quarter worth $165,000. BlackRock Inc. increased its stake in MB Financial by 140.4% in the first quarter. BlackRock Inc. now owns 5,156 shares of the company’s stock worth $168,000 after buying an additional 3,011 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in MB Financial during the second quarter worth $209,000. Finally, Shelton Capital Management acquired a new stake in MB Financial during the second quarter worth $211,000. 64.18% of the stock is currently owned by hedge funds and other institutional investors.
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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