Great West Life Assurance Co. Can increased its stake in MB Financial Inc. (NASDAQ:MBFI) by 15.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,340 shares of the bank’s stock after purchasing an additional 6,686 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.06% of MB Financial worth $2,216,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in MB Financial by 2.4% during the 2nd quarter. BlackRock Inc. now owns 7,927,754 shares of the bank’s stock valued at $349,139,000 after acquiring an additional 185,340 shares during the period. Vanguard Group Inc. raised its holdings in MB Financial by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 6,531,759 shares of the bank’s stock valued at $287,658,000 after acquiring an additional 104,479 shares during the period. Northern Trust Corp raised its holdings in MB Financial by 13.8% during the 2nd quarter. Northern Trust Corp now owns 1,734,133 shares of the bank’s stock valued at $76,372,000 after acquiring an additional 210,352 shares during the period. Channing Capital Management LLC raised its holdings in MB Financial by 1.5% during the 3rd quarter. Channing Capital Management LLC now owns 1,598,971 shares of the bank’s stock valued at $71,986,000 after acquiring an additional 23,593 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in MB Financial by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,582,553 shares of the bank’s stock valued at $69,696,000 after acquiring an additional 102,149 shares during the period. 76.61% of the stock is currently owned by institutional investors.
MBFI has been the topic of a number of analyst reports. BidaskClub cut shares of MB Financial from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research cut shares of MB Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $45.00 target price on shares of MB Financial in a report on Tuesday, October 3rd. Jefferies Group reissued a “hold” rating and set a $48.00 target price on shares of MB Financial in a report on Friday, September 15th. Finally, SunTrust Banks set a $49.00 target price on shares of MB Financial and gave the company a “buy” rating in a report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $47.63.
In other news, insider Mark A. Heckler sold 13,804 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $46.25, for a total value of $638,435.00. Following the transaction, the insider now owns 55,236 shares of the company’s stock, valued at $2,554,665. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Jill E. York sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $44.60, for a total transaction of $223,000.00. Following the completion of the transaction, the vice president now directly owns 65,430 shares in the company, valued at approximately $2,918,178. The disclosure for this sale can be found here. Corporate insiders own 7.05% of the company’s stock.
MB Financial Inc. (NASDAQ MBFI) opened at $44.71 on Friday. The firm has a market cap of $3,677.92, a price-to-earnings ratio of 17.89, a PEG ratio of 1.69 and a beta of 1.19. MB Financial Inc. has a 1-year low of $38.28 and a 1-year high of $48.47. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.84.
MB Financial (NASDAQ:MBFI) last released its quarterly earnings results 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 firm had revenue of $252.21 million for the quarter, compared to analysts’ expectations 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 prior year, the firm posted $0.61 earnings per share. research analysts expect that MB Financial Inc. will post 2.47 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.21 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.88%. MB Financial’s payout ratio is currently 35.90%.
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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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