$253.07 Million in Sales Expected for MB Financial Inc. (MBFI) This Quarter
Equities analysts expect that MB Financial Inc. (NASDAQ:MBFI) will post $253.07 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for MB Financial’s earnings, with estimates ranging from $244.30 million to $258.30 million. MB Financial reported sales of $234.16 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8.1%. The company is expected to issue its next earnings report on Thursday, October 19th.
According to Zacks, analysts expect that MB Financial will report full year sales of $253.07 million for the current year, with estimates ranging from $970.50 million to $1.00 billion. For the next year, analysts forecast that the firm will report sales of $1.05 billion per share, with estimates ranging from $1.03 billion to $1.08 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow MB Financial.
MB Financial (NASDAQ:MBFI) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.10. MB Financial had a return on equity of 7.99% and a net margin of 19.12%. The business had revenue of $239.51 million during the quarter, compared to the consensus estimate of $247.39 million. During the same quarter in the previous year, the business posted $0.58 earnings per share.
MBFI has been the topic of several recent research reports. Zacks Investment Research downgraded shares of MB Financial from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. BidaskClub raised shares of MB Financial from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. ValuEngine downgraded shares of MB Financial from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. Wedbush reaffirmed a “neutral” rating and issued a $48.00 price objective on shares of MB Financial in a report on Tuesday, June 27th. Finally, Piper Jaffray Companies downgraded shares of MB Financial from an “overweight” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $47.67.
In related news, VP Jill E. York sold 5,000 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $42.30, for a total value of $211,500.00. Following the completion of the transaction, the vice president now directly owns 71,525 shares in the company, valued at approximately $3,025,507.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James N. Hallene sold 4,877 shares of the business’s stock in a transaction on 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 transaction, the director now owns 25,339 shares of the company’s stock, valued at $1,125,051.60. The disclosure for this sale can be found here. Insiders own 4.93% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Channing Capital Management LLC boosted its position in MB Financial by 8.9% in the first quarter. Channing Capital Management LLC now owns 1,630,866 shares of the bank’s stock valued at $69,834,000 after buying an additional 133,370 shares in 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 valued at $19,109,000 after buying an additional 296,089 shares in the last quarter. North Star Investment Management Corp. boosted its position in MB Financial by 3.4% in the first quarter. North Star Investment Management Corp. now owns 188,884 shares of the bank’s stock valued at $8,088,000 after buying an additional 6,252 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in MB Financial by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 24,888 shares of the bank’s stock valued at $1,066,000 after buying an additional 300 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in MB Financial by 2.9% in the first quarter. Russell Investments Group Ltd. now owns 504,536 shares of the bank’s stock valued at $21,605,000 after buying an additional 14,319 shares in the last quarter. Hedge funds and other institutional investors own 75.05% of the company’s stock.
MB Financial (NASDAQ:MBFI) opened at 39.68 on Wednesday. The firm has a 50-day moving average of $42.04 and a 200 day moving average of $42.97. MB Financial has a 52-week low of $35.00 and a 52-week high of $48.47. The company has a market capitalization of $3.33 billion, a P/E ratio of 18.10 and a beta of 1.13.
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MB Financial Company Profile
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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