MB Financial Inc. (MBFI) Sets New 1-Year High at $39.14
Shares of MB Financial Inc. (NASDAQ:MBFI) reached a new 52-week high on Tuesday . The stock traded as high as $39.14 and last traded at $39.01, with a volume of 525,047 shares. The stock had previously closed at $38.56.
Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of MB Financial in a report on Saturday, July 9th. Zacks Investment Research raised shares of MB Financial from a “sell” rating to a “hold” rating in a report on Friday, April 22nd. Piper Jaffray Cos. assumed coverage on shares of MB Financial in a report on Friday, June 10th. They issued an “overweight” rating and a $41.00 price target for the company. Finally, DA Davidson assumed coverage on shares of MB Financial in a report on Thursday, April 7th. They issued a “neutral” rating and a $36.00 price target for the company. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. MB Financial has an average rating of “Buy” and an average target price of $35.39.
The firm has a market capitalization of $2.85 billion and a PE ratio of 18.13. The company has a 50 day moving average price of $36.19 and a 200-day moving average price of $33.34.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.97%. This is an increase from MB Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, June 13th.
In other MB Financial news, Director Thomas H. Harvey sold 20,000 shares of the firm’s stock in a transaction on Wednesday, April 27th. The shares were sold at an average price of $35.05, for a total value of $701,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas H. Harvey sold 12,900 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $34.12, for a total transaction of $440,148.00. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have added to or reduced their stakes in MBFI. State of Tennessee Treasury Department acquired a new position in MB Financial during the fourth quarter worth $1,765,000. Dimensional Fund Advisors LP raised its position in MB Financial by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,823,111 shares of the company’s stock worth $156,126,000 after buying an additional 197,519 shares during the period. Principal Financial Group Inc. raised its position in MB Financial by 3.5% in the fourth quarter. Principal Financial Group Inc. now owns 466,315 shares of the company’s stock worth $15,095,000 after buying an additional 15,862 shares during the period. 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 during the period. Finally, OppenheimerFunds Inc. raised its position in MB Financial by 4.0% in the fourth quarter. OppenheimerFunds Inc. now owns 1,034,994 shares of the company’s stock worth $33,503,000 after buying an additional 39,995 shares during the period.
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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