DA Davidson Analysts Decrease Earnings Estimates for MB Financial Inc. (MBFI)
MB Financial Inc. (NASDAQ:MBFI) – DA Davidson lowered their FY2017 earnings per share (EPS) estimates for shares of MB Financial in a research note issued on Monday. DA Davidson analyst K. Reevey now expects that the bank will post earnings per share of $2.42 for the year, down from their previous forecast of $2.67.
MB Financial (NASDAQ:MBFI) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by $0.10. MB Financial had a net margin of 19.12% and a return on equity of 7.99%. The business had revenue of $239.51 million for the quarter, compared to analysts’ expectations of $247.39 million. During the same quarter in the prior year, the firm posted $0.58 EPS.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut MB Financial from a “hold” rating to a “sell” rating in a report on Thursday. Jefferies Group LLC reiterated a “hold” rating and set a $48.00 target price on shares of MB Financial in a report on Sunday, June 11th. Hovde Group lowered their target price on MB Financial from $49.00 to $45.00 and set a “market perform” rating for the company in a report on Monday. Wedbush reiterated a “neutral” rating and set a $48.00 target price on shares of MB Financial in a report on Tuesday, June 27th. Finally, Piper Jaffray Companies cut MB Financial from an “overweight” rating to a “neutral” rating and set a $44.00 target price for the company. in a report on Monday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. MB Financial has an average rating of “Hold” and a consensus price target of $47.67.
MB Financial (NASDAQ MBFI) opened at 41.24 on Thursday. MB Financial has a 52 week low of $35.00 and a 52 week high of $48.47. The stock has a market cap of $3.46 billion, a P/E ratio of 18.82 and a beta of 1.15. The firm has a 50-day moving average price of $43.29 and a 200-day moving average price of $43.50.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were issued a dividend of $0.21 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.84 dividend on an annualized basis and a yield of 2.04%. This is a boost from MB Financial’s previous quarterly dividend of $0.19. MB Financial’s dividend payout ratio (DPR) is presently 38.36%.
In related news, Director James N. Hallene sold 4,877 shares of MB Financial stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $44.40, for a total transaction of $216,538.80. Following the completion of the transaction, the director now owns 25,339 shares in the company, valued at $1,125,051.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mitchell Feiger sold 11,825 shares of MB Financial stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $43.60, for a total value of $515,570.00. Following the transaction, the insider now owns 140,724 shares of the company’s stock, valued at approximately $6,135,566.40. The disclosure for this sale can be found here. Insiders have sold 21,702 shares of company stock valued at $943,609 in the last quarter. 7.05% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of MBFI. BlackRock Inc. boosted its position in MB Financial by 17,590.9% in the first quarter. BlackRock Inc. now owns 7,742,414 shares of the bank’s stock worth $331,530,000 after buying an additional 7,698,649 shares during the last quarter. Norges Bank acquired a new position in MB Financial during the fourth quarter worth approximately $27,453,000. Vanguard Group Inc. boosted its position in MB Financial by 8.6% in the first quarter. Vanguard Group Inc. now owns 6,427,280 shares of the bank’s stock worth $275,215,000 after buying an additional 510,128 shares during the last quarter. Wells Fargo & Company MN boosted its position in MB Financial by 197.2% in the first quarter. Wells Fargo & Company MN now owns 446,257 shares of the bank’s stock worth $19,109,000 after buying an additional 296,089 shares during the last quarter. Finally, State Street Corp boosted its position in MB Financial by 4.6% in the first quarter. State Street Corp now owns 3,637,900 shares of the bank’s stock worth $155,776,000 after buying an additional 159,350 shares during the last quarter. Institutional investors and hedge funds own 74.35% 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.
Receive News & Ratings for MB Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MB Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.