MB Financial Inc. (MBFI) Upgraded at Zacks Investment Research
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 morning. They currently have $42.00 price objective on the stock.
According to Zacks, “MB Financial, Inc. is a bank holding company which conducts a commercial banking business through Manufacturers Bank. “
Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reaffirmed a hold rating on shares of MB Financial in a report on Saturday, July 9th. Sandler O’Neill lowered MB Financial from a buy rating to a hold rating in a research note on Friday, August 26th. JMP Securities began coverage on MB Financial in a research note on Friday, September 16th. They issued a market perform rating on the stock. DA Davidson upped their price objective 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. began coverage on MB Financial in a research note on Friday, June 10th. They issued an overweight rating and a $41.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $36.28.
MB Financial (NASDAQ:MBFI) opened at 37.91 on Friday. 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 $38.31 and its 200-day moving average price is $36.35. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 17.71 and a beta of 1.06.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.76 dividend on an annualized basis and a yield of 2.00%. MB Financial’s dividend payout ratio (DPR) is presently 35.68%.
In related news, VP Jill E. York sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $39.05, for a total transaction of $195,250.00. Following the sale, the vice president now directly owns 69,889 shares in the company, valued at approximately $2,729,165.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas H. Harvey sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was 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. Corporate insiders own 7.05% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in MB Financial by 77.2% in the second quarter. Victory Capital Management Inc. now owns 3,130 shares of the company’s stock valued at $114,000 after buying an additional 1,364 shares in the last quarter. Huntington Asset Advisors Inc. purchased a new position in MB Financial during the first quarter valued at about $165,000. BlackRock Inc. increased its position in MB Financial by 140.4% in the first quarter. BlackRock Inc. now owns 5,156 shares of the company’s stock valued at $168,000 after buying an additional 3,011 shares in the last quarter. Nomura Holdings Inc. purchased a new position in MB Financial during the second quarter valued at about $209,000. Finally, Shelton Capital Management purchased a new position in MB Financial during the second quarter valued at about $211,000. 64.18% of the stock is currently owned by hedge funds and other institutional investors.
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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