Zacks Investment Research Downgrades MB Financial Inc. (MBFI) to Hold
MB Financial Inc. (NASDAQ:MBFI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “MB Financial, Inc. is a bank holding company which conducts a commercial banking business through Manufacturers Bank. “
Several other brokerages have also recently commented on MBFI. Sandler O’Neill cut MB Financial from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. DA Davidson raised their target price on MB Financial from $39.19 to $43.00 and gave the company a “neutral” rating in a report on Friday, August 26th. JMP Securities began coverage on MB Financial in a report on Friday, September 16th. They set a “market perform” rating on the stock. Finally, Jefferies Group reiterated a “hold” rating and issued a $39.00 price objective on shares of MB Financial in a research note on Tuesday, November 1st. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. MB Financial currently has an average rating of “Hold” and an average target price of $37.94.
Shares of MB Financial (NASDAQ:MBFI) opened at 43.09 on Wednesday. MB Financial has a 1-year low of $27.98 and a 1-year high of $44.34. The stock has a 50 day moving average price of $38.86 and a 200-day moving average price of $37.65. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 19.86 and a beta of 1.07.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, December 13th. MB Financial’s payout ratio is 35.19%.
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In other MB Financial news, VP Jill E. York sold 5,000 shares of MB Financial 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 of the company’s stock, valued at $2,729,165.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mitchell Feiger sold 6,500 shares of MB Financial stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $38.69, for a total value of $251,485.00. Following the sale, the chief executive officer now directly owns 119,997 shares in the company, valued at $4,642,683.93. The disclosure for this sale can be found here. Company insiders own 7.05% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Credit Suisse AG increased its stake in MB Financial by 24.6% in the third quarter. Credit Suisse AG now owns 161,538 shares of the company’s stock worth $6,146,000 after buying an additional 31,841 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in MB Financial during the third quarter worth $1,064,000. Eaton Vance Management increased its stake in MB Financial by 28.0% in the third quarter. Eaton Vance Management now owns 113,950 shares of the company’s stock worth $4,335,000 after buying an additional 24,929 shares during the last quarter. Tributary Capital Management LLC increased its stake in MB Financial by 7.2% in the third quarter. Tributary Capital Management LLC now owns 315,475 shares of the company’s stock worth $12,001,000 after buying an additional 21,303 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in MB Financial during the third quarter worth $45,885,000. 69.08% of the stock is currently owned by 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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