Equities researchers at DA Davidson began coverage on shares of MB Financial (NASDAQ: MBFI) in a research report issued on Thursday, AnalystRatings.Net reports. The firm set a “buy” rating and a $30.00 price target on the stock. DA Davidson’s price target would indicate a potential upside of 14.64% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of MB Financial with a BUY rating and a price target of $30. MBFI shares trade at a 1-point P/E multiple discount to 2013 EPS versus the D.A. Davidson Mid-cap median of 14.5x. In our view, the outlook for exceptionally good fee income growth, stable credit, good capital ratios and strong profitability ratios that are quite resilient to a decline in mortgage banking suggests that an above peer multiple is appropriate. Anticipating a prolonged slow economic recovery, tightening credit spreads,and the potential impact of regulatory changes to capital requirements on profitability, management began to invest in several fee-based initiatives in 2011. In late 2012, growth in non-interest income began to take off. In 1Q13, fee income was up 30% from the prior year.”
MB Financial (NASDAQ: MBFI) opened at 26.17 on Thursday. MB Financial has a 52-week low of $17.00 and a 52-week high of $26.55. The stock’s 50-day moving average is currently $25.36. The company has a market cap of $1.417 billion and a price-to-earnings ratio of 15.13.
MB Financial (NASDAQ: MBFI) last announced its earnings results on Monday, April 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.04. The company had revenue of $106.06 million for the quarter, compared to the consensus estimate of $105.27 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts predict that MB Financial will post $1.84 earnings per share for the current fiscal year.
A number of other firms have also recently commented on MBFI. Analysts at Raymond James downgraded shares of MB Financial from a “market perform” rating to an “underperform” rating in a research note to investors on Thursday, May 16th. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of MB Financial from $26.00 to $27.00 in a research note to investors on Wednesday, April 24th. They now have an “outperform” rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of MB Financial from $23.00 to $24.00 in a research note to investors on Wednesday, April 24th. They now have a “hold” rating on the stock.
One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. MB Financial has a consensus rating of “Buy” and a consensus price target of $25.13.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 28th. Stockholders of record on Saturday, June 15th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Wednesday, June 12th.
MB Financial, Inc. (NASDAQ: MBFI) is a financial holding company with 86 banking offices located primarily in the Chicago area.