North Star Investment Management Corp. Raises Position in MB Financial Inc. (NASDAQ:MBFI)

North Star Investment Management Corp. raised its position in MB Financial Inc. (NASDAQ:MBFI) by 1.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 191,702 shares of the bank’s stock after buying an additional 2,818 shares during the period. MB Financial comprises about 1.1% of North Star Investment Management Corp.’s investment portfolio, making the stock its 12th largest position. North Star Investment Management Corp.’s holdings in MB Financial were worth $8,443,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in MBFI. BlackRock Inc. boosted its position in shares of 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. Vanguard Group Inc. increased its stake in shares of 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 period. Wellington Management Group LLP increased its stake in shares of MB Financial by 1.5% in the first quarter. Wellington Management Group LLP now owns 6,206,904 shares of the bank’s stock worth $265,780,000 after buying an additional 89,695 shares during the period. State Street Corp increased its stake in shares of 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 period. Finally, Channing Capital Management LLC increased its stake in shares of MB Financial by 8.9% in the first quarter. Channing Capital Management LLC now owns 1,630,866 shares of the bank’s stock worth $69,834,000 after buying an additional 133,370 shares during the period. Institutional investors own 74.34% of the company’s stock.

MB Financial Inc. (NASDAQ:MBFI) traded down 0.12% during midday trading on Tuesday, reaching $42.44. 174,533 shares of the company were exchanged. MB Financial Inc. has a 52-week low of $35.00 and a 52-week high of $48.47. The firm’s 50-day moving average price is $42.89 and its 200 day moving average price is $44.05. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 18.85 and a beta of 1.14.

MB Financial (NASDAQ:MBFI) last released its quarterly earnings data on Thursday, April 27th. The bank reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. MB Financial had a return on equity of 8.37% and a net margin of 19.64%. The firm had revenue of $234.82 million for the quarter, compared to the consensus estimate of $240.47 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. Equities analysts predict that MB Financial Inc. will post $2.64 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were issued a $0.21 dividend. 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 1.98%. This is an increase from MB Financial’s previous quarterly dividend of $0.19. MB Financial’s dividend payout ratio is currently 37.33%.

COPYRIGHT VIOLATION WARNING: “[[title]]” was first posted by [[site]] and is the property of of [[site]]. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international trademark & copyright law. The legal version of this piece of content can be read at [[permalink]].

MBFI has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of MB Financial from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Tuesday, July 4th. BidaskClub upgraded shares of MB Financial from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Jefferies Group LLC reiterated a “hold” rating and set a $48.00 price target on shares of MB Financial in a report on Sunday, June 11th. ValuEngine downgraded shares of MB Financial from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. Finally, Keefe, Bruyette & Woods set a $46.00 price target on shares of MB Financial and gave the stock a “hold” rating in a report on Monday, April 3rd. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. MB Financial presently has an average rating of “Hold” and an average target price of $48.57.

In related news, Director James N. Hallene sold 4,877 shares of the stock in a transaction that occurred 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 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 this link. Also, VP Jill E. York sold 5,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was 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 owns 71,525 shares in the company, valued at approximately $3,025,507.50. The disclosure for this sale can be found here. Insiders sold 21,702 shares of company stock worth $943,609 in the last 90 days. 4.93% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding MBFI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MB Financial Inc. (NASDAQ:MBFI).