Zacks Investment Research upgraded shares of MB Financial Inc. (NASDAQ:MBFI) from a hold rating to a buy rating in a research note published on Friday. They currently have $42.00 price target on the stock.
According to Zacks, “MB Financial, Inc. is a bank holding company which conducts a commercial banking business through Manufacturers Bank. “
Other research analysts have also issued reports about the company. JPMorgan Chase & Co. raised their price target on MB Financial from $35.50 to $36.50 and gave the stock a neutral rating in a research report on Thursday, July 7th. DA Davidson raised their price target on MB Financial from $39.19 to $43.00 and gave the stock a neutral rating in a research report on Friday, August 26th. JMP Securities began coverage on MB Financial in a research report on Friday, September 16th. They set a market perform rating for the company. Piper Jaffray Cos. began coverage on MB Financial in a research report on Friday, June 10th. They set an overweight rating and a $41.00 price target for the company. Finally, Sandler O’Neill lowered MB Financial from a buy rating to a hold rating in a research report on Friday, August 26th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $36.28.
MB Financial (NASDAQ:MBFI) opened at 37.68 on Friday. The company’s 50-day moving average price is $38.34 and its 200-day moving average price is $36.34. MB Financial has a 12-month low of $27.98 and a 12-month high of $39.50. The stock has a market cap of $2.77 billion, a PE ratio of 17.60 and a beta of 1.06.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Tuesday, September 13th. MB Financial’s dividend payout ratio is presently 35.68%.
In other MB Financial news, VP Jill E. York sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $39.05, for a total value of $195,250.00. Following the sale, the vice president now directly owns 69,889 shares in the company, valued at $2,729,165.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas H. Harvey sold 20,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $37.96, for a total value of $759,200.00. The disclosure for this sale can be found here. 7.05% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of MBFI. PineBridge Investments L.P. boosted its stake in MB Financial by 3.7% in the second quarter. PineBridge Investments L.P. now owns 8,701 shares of the company’s stock worth $316,000 after buying an additional 307 shares in the last quarter. Profund Advisors LLC boosted its stake in MB Financial by 2.4% in the second quarter. Profund Advisors LLC now owns 15,416 shares of the company’s stock worth $559,000 after buying an additional 355 shares in the last quarter. Arizona State Retirement System boosted its stake in MB Financial by 1.1% in the second quarter. Arizona State Retirement System now owns 35,628 shares of the company’s stock worth $1,293,000 after buying an additional 400 shares in the last quarter. Capstone Asset Management Co. boosted its stake in MB Financial by 2.2% in the second quarter. Capstone Asset Management Co. now owns 20,775 shares of the company’s stock worth $754,000 after buying an additional 440 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in MB Financial by 7.6% in the second quarter. Amalgamated Bank now owns 8,678 shares of the company’s stock worth $334,000 after buying an additional 616 shares in the last quarter. Institutional investors own 64.18% of the company’s stock.
MB Financial Company Profile
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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