MB Financial’s (MBFI) “Buy” Rating Reiterated at Piper Jaffray Companies
MB Financial Inc. (NASDAQ:MBFI)‘s stock had its “buy” rating reissued by equities research analysts at Piper Jaffray Companies in a report issued on Friday. They currently have a $49.00 target price on the bank’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 20.99% from the stock’s current price.
A number of other analysts also recently weighed in on the company. BidaskClub downgraded MB Financial from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research downgraded MB Financial from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Wedbush restated a “neutral” rating and issued a $48.00 price target on shares of MB Financial in a research note on Tuesday, June 27th. Jefferies Group LLC restated a “hold” rating and issued a $48.00 price target on shares of MB Financial in a research note on Sunday, June 11th. Finally, ValuEngine downgraded MB Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. MB Financial currently has a consensus rating of “Hold” and an average price target of $48.63.
MB Financial (MBFI) traded down 4.84% during midday trading on Friday, reaching $40.50. The company’s stock had a trading volume of 1,229,054 shares. The stock’s 50 day moving average is $43.39 and its 200 day moving average is $43.69. MB Financial has a 12-month low of $35.00 and a 12-month high of $48.47. The stock has a market cap of $3.39 billion, a P/E ratio of 17.98 and a beta of 1.15.
MB Financial (NASDAQ:MBFI) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.10. MB Financial had a net margin of 19.64% and a return on equity of 8.37%. The business had revenue of $239.51 million during the quarter, compared to analysts’ expectations of $247.39 million. During the same quarter last year, the firm earned $0.58 earnings per share. Analysts anticipate that MB Financial will post $2.64 earnings per share for the current year.
In other MB Financial news, 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 transaction of $216,538.80. Following the sale, the director now directly owns 25,339 shares in the company, valued at $1,125,051.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mitchell Feiger sold 11,825 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $43.60, for a total value of $515,570.00. Following the sale, the insider now owns 140,724 shares in the company, valued at $6,135,566.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,702 shares of company stock worth $943,609. 7.05% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of 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 bank’s stock worth $114,000 after buying an additional 1,364 shares during the last quarter. Tyers Asset Management LLC purchased a new stake in MB Financial during the fourth quarter worth approximately $124,000. Credit Agricole S A purchased a new stake in MB Financial during the fourth quarter worth approximately $154,000. Huntington Asset Advisors Inc. purchased a new stake in MB Financial during the first quarter worth approximately $165,000. Finally, BlackRock Inc. increased its stake in MB Financial by 140.4% in the first quarter. BlackRock Inc. now owns 5,156 shares of the bank’s stock worth $168,000 after buying an additional 3,011 shares during the last quarter. Institutional investors own 74.34% of the company’s stock.
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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