Zacks: Analysts Anticipate MB Financial Inc. (MBFI) Will Post Quarterly Sales of $253.00 Million
Analysts expect that MB Financial Inc. (NASDAQ:MBFI) will announce sales of $253.00 million for the current quarter, Zacks reports. Seven analysts have provided estimates for MB Financial’s earnings, with estimates ranging from $245.90 million to $259.20 million. MB Financial reported sales of $238.04 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.3%. The company is scheduled to report its next earnings report on Thursday, January 25th.
According to Zacks, analysts expect that MB Financial will report full-year sales of $253.00 million for the current fiscal year, with estimates ranging from $971.30 million to $1.01 billion. For the next year, analysts anticipate that the firm will post sales of $1.06 billion per share, with estimates ranging from $1.03 billion to $1.08 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for MB Financial.
MB Financial (NASDAQ:MBFI) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.08. MB Financial had a return on equity of 8.40% and a net margin of 20.21%. The firm had revenue of $252.21 million during the quarter, compared to the consensus estimate of $253.15 million. During the same period in the prior year, the firm earned $0.61 EPS.
A number of research analysts have recently weighed in on MBFI shares. Keefe, Bruyette & Woods restated a “hold” rating and set a $45.00 price target on shares of MB Financial in a report on Tuesday, August 29th. Jefferies Group LLC restated a “hold” rating and set a $48.00 price target on shares of MB Financial in a report on Friday, September 15th. SunTrust Banks, Inc. set a $48.00 price target on shares of MB Financial and gave the company a “buy” rating in a report on Friday, October 20th. Zacks Investment Research upgraded shares of MB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Finally, BidaskClub downgraded shares of MB Financial from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $47.50.
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Shares of MB Financial (NASDAQ:MBFI) opened at 46.22 on Monday. The firm has a market capitalization of $3.88 billion, a P/E ratio of 21.09 and a beta of 1.18. MB Financial has a one year low of $35.65 and a one year high of $48.47. The company has a 50-day moving average price of $44.40 and a 200 day moving average price of $42.57.
In related news, Director Ronald D. Santo sold 2,542 shares of MB Financial stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $39.78, for a total value of $101,120.76. Following the transaction, the director now owns 59,505 shares in the company, valued at approximately $2,367,108.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.93% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Teacher Retirement System of Texas raised its holdings in MB Financial by 0.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,381 shares of the bank’s stock worth $281,000 after acquiring an additional 41 shares during the period. Capstone Asset Management Co. raised its holdings in MB Financial by 1.6% in the 2nd quarter. Capstone Asset Management Co. now owns 5,018 shares of the bank’s stock worth $221,000 after acquiring an additional 80 shares during the period. First National Bank of Omaha raised its holdings in MB Financial by 0.4% in the 2nd quarter. First National Bank of Omaha now owns 39,275 shares of the bank’s stock worth $1,730,000 after acquiring an additional 160 shares during the period. Suntrust Banks Inc. raised its holdings in MB Financial by 4.0% in the 2nd quarter. Suntrust Banks Inc. now owns 5,162 shares of the bank’s stock worth $226,000 after acquiring an additional 200 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in MB Financial by 8.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,263 shares of the bank’s stock worth $144,000 after acquiring an additional 262 shares during the period. Hedge funds and other institutional investors own 74.86% 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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