ING Groep NV bought a new stake in MB Financial Inc. (NASDAQ:MBFI) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 8,669 shares of the bank’s stock, valued at approximately $382,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of MBFI. Capstone Asset Management Co. increased its position in shares of MB Financial by 5.8% in the first quarter. Capstone Asset Management Co. now owns 4,938 shares of the bank’s stock valued at $211,000 after buying an additional 270 shares in the last quarter. Suntrust Banks Inc. purchased a new position in shares of MB Financial during the first quarter valued at about $212,000. Oakbrook Investments LLC purchased a new position in shares of MB Financial during the second quarter valued at about $231,000. KCG Holdings Inc. purchased a new position in shares of MB Financial during the first quarter valued at about $238,000. Finally, LS Investment Advisors LLC increased its position in shares of MB Financial by 20.2% in the second quarter. LS Investment Advisors LLC now owns 5,648 shares of the bank’s stock valued at $249,000 after buying an additional 951 shares in the last quarter. Hedge funds and other institutional investors own 74.48% of the company’s stock.
Shares of MB Financial Inc. (NASDAQ MBFI) traded up 1.33% on Tuesday, reaching $41.28. 95,067 shares of the company were exchanged. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 18.84 and a beta of 1.13. 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 $43.05 and its 200 day moving average price is $43.33.
MB Financial (NASDAQ:MBFI) last released its earnings results on Thursday, July 20th. The bank reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by $0.10. The company had revenue of $239.51 million during the quarter, compared to analyst estimates of $247.39 million. MB Financial had a return on equity of 7.99% and a net margin of 19.12%. During the same quarter last year, the business earned $0.58 earnings per share. Equities research analysts anticipate that MB Financial Inc. will post $2.44 EPS for the current year.
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Several research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of MB Financial from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. BidaskClub downgraded shares of MB Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Piper Jaffray Companies downgraded shares of MB Financial from an “overweight” rating to a “neutral” rating and set a $44.00 target price on the stock. in a research note on Monday, July 24th. Hovde Group dropped their target price on shares of MB Financial from $49.00 to $45.00 and set a “market perform” rating on the stock in a research note on Monday, July 24th. Finally, Jefferies Group LLC restated a “hold” rating and set a $48.00 price objective on shares of MB Financial in a research report on Sunday, June 11th. Two 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. MB Financial presently has an average rating of “Hold” and a consensus target price of $47.67.
In related news, Director James N. Hallene sold 4,877 shares of MB Financial stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $44.40, for a total value of $216,538.80. Following the completion of the sale, the director now directly owns 25,339 shares in the company, valued at approximately $1,125,051.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mitchell Feiger sold 11,825 shares of MB Financial stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $43.60, for a total transaction of $515,570.00. Following the completion of the sale, the insider now owns 140,724 shares of the company’s stock, valued at $6,135,566.40. The disclosure for this sale can be found here. Insiders sold a total of 21,702 shares of company stock valued at $943,609 over the last quarter. 4.93% of the stock is owned by company insiders.
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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