MB Financial Inc. (MBFI) Stock Rating Lowered 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 report issued to clients and investors on Saturday.
According to Zacks, “MB Financial, Inc. is a bank holding company which conducts a commercial banking business through Manufacturers Bank. “
Several other equities analysts have also issued reports on the company. Wedbush reiterated a “neutral” rating and issued a $48.00 price target on shares of MB Financial in a research note on Tuesday, June 27th. BidaskClub upgraded MB Financial from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Jefferies Group LLC reiterated a “hold” rating and issued a $48.00 price target on shares of MB Financial in a research note on Sunday, June 11th. ValuEngine lowered MB Financial from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Finally, Keefe, Bruyette & Woods set a $46.00 price objective on MB Financial and gave the stock a “hold” rating in a research report on Monday, April 3rd. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. MB Financial has an average rating of “Hold” and a consensus price target of $48.57.
MB Financial (NASDAQ:MBFI) opened at 44.49 on Friday. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 19.76 and a beta of 1.15. The firm has a 50-day moving average price of $42.89 and a 200-day moving average price of $44.05. MB Financial has a 1-year low of $34.88 and a 1-year high of $48.47.
MB Financial (NASDAQ:MBFI) last issued its quarterly earnings results on Thursday, April 27th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. MB Financial had a return on equity of 8.37% and a net margin of 19.64%. The company had revenue of $234.82 million for the quarter, compared to analyst estimates of $240.47 million. During the same quarter last year, the company posted $0.54 EPS. On average, analysts expect that MB Financial will post $2.64 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.89%. This is a positive change from MB Financial’s previous quarterly dividend of $0.19. MB Financial’s payout ratio is currently 37.33%.
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In related news, VP Jill E. York sold 5,000 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $3,025,507.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James N. Hallene sold 4,877 shares of the business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $44.40, for a total value of $216,538.80. Following the sale, the director now owns 25,339 shares in the company, valued at approximately $1,125,051.60. The disclosure for this sale can be found here. Insiders have sold a total of 21,702 shares of company stock worth $943,609 in the last 90 days. 7.05% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in MBFI. Comerica Bank increased its position in shares of MB Financial by 6.4% in the fourth quarter. Comerica Bank now owns 52,609 shares of the bank’s stock valued at $2,420,000 after buying an additional 3,162 shares during the last quarter. Credit Agricole S A bought a new position in shares of MB Financial during the fourth quarter valued at approximately $154,000. Guggenheim Capital LLC increased its position 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 valued at $1,896,000 after buying an additional 10,427 shares during the last quarter. AQR Capital Management LLC increased its position 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 valued at $3,545,000 after buying an additional 25,439 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of MB Financial by 63.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,435 shares of the bank’s stock valued at $304,000 after buying an additional 2,488 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.
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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