Zacks Investment Research downgraded shares of MB Financial Inc. (NASDAQ:MBFI) from a hold rating to a sell rating in a report issued on Tuesday morning.
According to Zacks, “MB Financial, Inc. is a bank holding company which conducts a commercial banking business through Manufacturers Bank. “
Other equities research analysts also recently issued research reports about the stock. BidaskClub raised shares of MB Financial from a sell rating to a hold rating in a report on Thursday, June 15th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $45.00 price objective on shares of MB Financial in a report on Tuesday, October 3rd. Jefferies Group LLC reaffirmed a hold rating and issued a $48.00 price objective on shares of MB Financial in a report on Friday, September 15th. Hovde Group reduced their price objective on shares of MB Financial from $49.00 to $45.00 and set a market perform rating for the company in a report on Monday, July 24th. Finally, Wedbush reaffirmed a neutral rating and issued a $48.00 price objective on shares of MB Financial in a report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. MB Financial presently has an average rating of Hold and a consensus target price of $47.56.
MB Financial (MBFI) opened at 45.92 on Tuesday. The stock has a market cap of $3.85 billion, a P/E ratio of 20.95 and a beta of 1.18. MB Financial has a one year low of $35.00 and a one year high of $48.47. The stock has a 50 day moving average of $42.14 and a 200-day moving average of $42.20.
MB Financial (NASDAQ:MBFI) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.54 earnings per share for the quarter, missing the consensus estimate 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 period in the previous year, the company earned $0.58 EPS. Analysts anticipate that MB Financial will post $2.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.83%. The ex-dividend date was Thursday, September 14th. MB Financial’s dividend payout ratio (DPR) is presently 38.36%.
In other MB Financial news, Director Ronald D. Santo sold 2,542 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $39.78, for a total value of $101,120.76. Following the sale, the director now directly owns 59,505 shares in the company, valued at $2,367,108.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.93% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Riverhead Capital Management LLC raised its position in MB Financial by 50.6% in the second quarter. Riverhead Capital Management LLC now owns 2,560 shares of the bank’s stock worth $113,000 after acquiring an additional 860 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in MB Financial by 20.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,255 shares of the bank’s stock worth $143,000 after acquiring an additional 556 shares in the last quarter. PNC Financial Services Group Inc. raised its position in MB Financial by 8.7% in the second 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 in the last quarter. World Asset Management Inc bought a new stake in MB Financial in the second quarter worth about $201,000. Finally, Pitcairn Co. bought a new stake in MB Financial in the second quarter worth about $220,000. Hedge funds and other institutional investors own 74.75% 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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