MB Financial Inc. (MBFI) Reaches New 52-Week High at $38.39
MB Financial Inc. (NASDAQ:MBFI) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $38.39 and last traded at $38.21, with a volume of 163,499 shares trading hands. The stock had previously closed at $37.61.
Several equities research analysts recently issued reports on MBFI shares. Zacks Investment Research cut MB Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, March 30th. DA Davidson began coverage on MB Financial in a research note on Thursday, April 7th. They set a “neutral” rating and a $36.00 target price for the company. Piper Jaffray Cos. began coverage on MB Financial in a research note on Friday, June 10th. They set an “overweight” rating and a $41.00 target price for the company. Finally, JPMorgan Chase & Co. upped their target price on MB Financial from $35.50 to $36.50 and gave the stock a “neutral” rating in a research note on Thursday, July 7th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. MB Financial currently has a consensus rating of “Buy” and an average price target of $35.39.
The company has a market capitalization of $2.81 billion and a P/E ratio of 18.35. The stock has a 50-day moving average of $35.85 and a 200 day moving average of $33.05.
MB Financial (NASDAQ:MBFI) last issued its quarterly earnings results on Monday, April 18th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. Analysts predict that MB Financial Inc. will post $2.28 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th were paid a dividend of $0.19 per share. This is a boost from MB Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, June 13th. This represents a $0.76 annualized dividend and a dividend yield of 1.98%.
In related news, CFO Jill E. York sold 5,000 shares of MB Financial stock in a transaction that occurred on Friday, April 22nd. The shares were sold at an average price of $35.24, for a total value of $176,200.00. Following the completion of the transaction, the chief financial officer now directly owns 79,711 shares in the company, valued at approximately $2,809,015.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jill E. York sold 2,500 shares of MB Financial stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $36.12, for a total transaction of $90,300.00. Following the completion of the transaction, the chief financial officer now owns 102,563 shares of the company’s stock, valued at $3,704,575.56. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. Nationwide Fund Advisors raised its position in MB Financial by 1.0% in the fourth quarter. Nationwide Fund Advisors now owns 63,689 shares of the company’s stock worth $2,062,000 after buying an additional 660 shares in the last quarter. Mutual of America Capital Management LLC raised its position in MB Financial by 9.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 86,172 shares of the company’s stock worth $2,789,000 after buying an additional 7,557 shares in the last quarter. Rhumbline Advisers raised its position in MB Financial by 4.3% in the fourth quarter. Rhumbline Advisers now owns 125,644 shares of the company’s stock worth $4,067,000 after buying an additional 5,225 shares in the last quarter. New York State Common Retirement Fund raised its position in MB Financial by 0.7% in the fourth quarter. New York State Common Retirement Fund now owns 126,509 shares of the company’s stock worth $4,095,000 after buying an additional 900 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in MB Financial by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 139,197 shares of the company’s stock worth $4,506,000 after buying an additional 2,093 shares in the last quarter.
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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