According to Zacks, “MB Financial, Inc. is a bank holding company which conducts a commercial banking business through Manufacturers Bank. “
MBFI has been the topic of several other research reports. JMP Securities initiated coverage on MB Financial in a report on Friday, September 16th. They set a market perform rating on the stock. JPMorgan Chase & Co. increased their price target on MB Financial from $35.50 to $36.50 and gave the company a neutral rating in a research note on Thursday, July 7th. Sandler O’Neill downgraded MB Financial from a buy rating to a hold rating in a research note on Friday, August 26th. DA Davidson increased their price target on MB Financial from $39.19 to $43.00 and gave the company a neutral rating in a research note on Friday, August 26th. Finally, Piper Jaffray Cos. assumed coverage on MB Financial in a research note on Friday, June 10th. They issued an overweight rating and a $41.00 price target on the stock. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $36.17.
Shares of MB Financial (NASDAQ:MBFI) opened at 37.45 on Monday. The firm has a market cap of $2.75 billion, a PE ratio of 17.49 and a beta of 1.09. MB Financial has a 52-week low of $27.98 and a 52-week high of $39.50. The company’s 50-day moving average price is $38.60 and its 200-day moving average price is $36.02.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Tuesday, September 13th. MB Financial’s dividend payout ratio is currently 35.68%.
In other MB Financial news, Director Thomas H. Harvey sold 20,000 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $37.96, for a total transaction of $759,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mitchell Feiger sold 6,500 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $38.69, for a total value of $251,485.00. Following the transaction, the chief executive officer now owns 119,997 shares of the company’s stock, valued at approximately $4,642,683.93. The disclosure for this sale can be found here. 7.05% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in MBFI. Vanguard Group Inc. boosted its position in MB Financial by 3.5% in the second quarter. Vanguard Group Inc. now owns 5,482,492 shares of the company’s stock worth $198,904,000 after buying an additional 185,069 shares during the period. Dimensional Fund Advisors LP increased its position in MB Financial by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,039,154 shares of the company’s stock worth $182,817,000 after buying an additional 119,584 shares in the last quarter. Wellington Management Group LLP increased its position in MB Financial by 33.3% in the first quarter. Wellington Management Group LLP now owns 2,888,141 shares of the company’s stock worth $93,720,000 after buying an additional 721,226 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in MB Financial by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,795,095 shares of the company’s stock worth $58,251,000 after buying an additional 12,360 shares in the last quarter. Finally, RidgeWorth Capital Management LLC increased its position in MB Financial by 1.7% in the second quarter. RidgeWorth Capital Management LLC now owns 1,702,300 shares of the company’s stock worth $61,470,000 after buying an additional 28,900 shares in the last quarter. Hedge funds and other institutional investors own 64.18% of the company’s stock.
About MB Financial
MB Financial, Inc is a financial holding company. The Company, through its bank subsidiary, MB Financial Bank, N.A., offers a range of financial services to small and middle market businesses, and individuals. The Company’s segments include banking, leasing and mortgage banking. Its banking segment includes lending and deposit gathering activities.
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