Zacks Investment Research upgraded shares of MB Financial Inc. (NASDAQ:MBFI) from a sell rating to a hold rating in a research note released on Wednesday, October 25th.
According to Zacks, “MB Financial, Inc. is a bank holding company which conducts a commercial banking business through Manufacturers Bank. “
Several other analysts also recently commented on the stock. SunTrust Banks, Inc. set a $48.00 price target on shares of MB Financial and gave the company a buy rating in a research report on Friday, October 20th. Piper Jaffray Companies reissued a hold rating and issued a $44.00 price objective on shares of MB Financial in a research note on Thursday, October 19th. Jefferies Group LLC reissued a hold rating and issued a $49.00 price objective on shares of MB Financial in a research note on Thursday, October 12th. Keefe, Bruyette & Woods reissued a hold rating and issued a $45.00 price objective on shares of MB Financial in a research note on Tuesday, October 3rd. Finally, BidaskClub cut shares of MB Financial from a sell rating to a strong sell rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. MB Financial currently has a consensus rating of Hold and an average target price of $47.50.
Shares of MB Financial (MBFI) traded down $0.10 during trading on Wednesday, reaching $42.80. 307,700 shares of the company were exchanged, compared to its average volume of 377,359. The stock has a market capitalization of $3,580.00, a P/E ratio of 17.51, a P/E/G ratio of 1.65 and a beta of 1.21. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. MB Financial has a one year low of $38.28 and a one year high of $48.47.
MB Financial (NASDAQ:MBFI) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.08. The business had revenue of $252.21 million during the quarter, compared to the consensus estimate of $253.15 million. MB Financial had a net margin of 20.21% and a return on equity of 8.40%. During the same quarter in the previous year, the firm earned $0.61 EPS. analysts predict that MB Financial will post 2.47 EPS for the current year.
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In related news, Director Ronald D. Santo sold 2,542 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $39.78, for a total transaction of $101,120.76. Following the completion of the sale, the director now owns 59,505 shares of the company’s stock, valued at approximately $2,367,108.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.05% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Riverhead Capital Management LLC lifted its stake in MB Financial by 50.6% during the second quarter. Riverhead Capital Management LLC now owns 2,560 shares of the bank’s stock worth $113,000 after purchasing an additional 860 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in MB Financial by 20.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,255 shares of the bank’s stock worth $143,000 after purchasing an additional 556 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in MB Financial by 8.7% during the second quarter. PNC Financial Services Group Inc. now owns 3,263 shares of the bank’s stock worth $144,000 after purchasing an additional 262 shares during the last quarter. HighPoint Advisor Group LLC bought a new position in MB Financial during the third quarter worth $208,000. Finally, World Asset Management Inc bought a new position in MB Financial during the second quarter worth $201,000. 74.88% of the stock is owned by institutional investors and hedge funds.
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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