MB Financial Inc. (NASDAQ:MBFI) to Post FY2017 Earnings of $2.67 Per Share, SunTrust Banks Forecasts
MB Financial Inc. (NASDAQ:MBFI) – Analysts at SunTrust Banks upped their FY2017 earnings estimates for MB Financial in a report released on Thursday. SunTrust Banks analyst M. Young now expects that the bank will earn $2.67 per share for the year, up from their prior forecast of $2.65.
A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of MB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. ValuEngine cut shares of MB Financial from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Keefe, Bruyette & Woods set a $46.00 target price on shares of MB Financial and gave the stock a “hold” rating in a research report on Monday, April 3rd. Jefferies Group LLC restated a “hold” rating and set a $48.00 target price on shares of MB Financial in a research report on Sunday, June 11th. Finally, Wedbush restated a “neutral” rating and set a $48.00 target price on shares of MB Financial in a research report on Tuesday, June 27th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. MB Financial has a consensus rating of “Hold” and an average price target of $46.69.
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Shares of MB Financial (NASDAQ:MBFI) opened at 44.04 on Monday. The stock has a market cap of $3.68 billion, a PE ratio of 19.56 and a beta of 1.14. MB Financial has a 52 week low of $34.88 and a 52 week high of $48.47. The company’s 50-day moving average is $42.89 and its 200 day moving average is $44.05.
MB Financial (NASDAQ:MBFI) last announced its quarterly earnings data on Thursday, April 27th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. MB Financial had a net margin of 19.64% and a return on equity of 8.37%. The company had revenue of $234.82 million during the quarter, compared to analysts’ expectations of $240.47 million. During the same quarter in the prior year, the company earned $0.54 EPS.
Large investors have recently modified their holdings of the company. Comerica Bank increased its stake in shares of MB Financial by 6.4% in the fourth quarter. Comerica Bank now owns 52,609 shares of the bank’s stock worth $2,420,000 after buying an additional 3,162 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of MB Financial during the fourth quarter worth approximately $576,000. Credit Agricole S A purchased a new stake in shares of MB Financial during the fourth quarter worth approximately $154,000. Guggenheim Capital LLC increased its stake in shares of MB Financial by 35.1% in the fourth quarter. Guggenheim Capital LLC now owns 40,138 shares of the bank’s stock worth $1,896,000 after buying an additional 10,427 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of MB Financial by 51.3% in the fourth quarter. AQR Capital Management LLC now owns 75,065 shares of the bank’s stock worth $3,545,000 after buying an additional 25,439 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.
In other news, Director James N. Hallene sold 4,877 shares of MB Financial stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $44.40, for a total transaction of $216,538.80. Following the completion of the sale, the director now directly owns 25,339 shares in the company, valued at $1,125,051.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jill E. York sold 5,000 shares of MB Financial stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $42.30, for a total transaction of $211,500.00. Following the sale, the vice president now owns 71,525 shares of the company’s stock, valued at $3,025,507.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,702 shares of company stock valued at $943,609. Insiders own 4.93% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were issued a dividend of $0.21 per share. The ex-dividend date was Tuesday, June 13th. This is an increase from MB Financial’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.91%. MB Financial’s payout ratio is 37.33%.
About MB Financial
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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