MB Financial Inc. (MBFI) Sees Unusually-High Trading Volume
MB Financial Inc. (NASDAQ:MBFI) shares saw strong trading volume on Friday . 13,774,194 shares changed hands during mid-day trading, an increase of 925% from the previous session’s volume of 1,343,758 shares.The stock last traded at $38.39 and had previously closed at $38.62.
A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reissued a “hold” rating on shares of MB Financial in a research note on Saturday, July 9th. Zacks Investment Research raised MB Financial from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Saturday, July 9th. DA Davidson assumed coverage on MB Financial in a research note on Thursday, April 7th. They issued a “neutral” rating and a $36.00 price objective for the company. Finally, Piper Jaffray Cos. assumed coverage on MB Financial in a research note on Friday, June 10th. They issued an “overweight” rating and a $41.00 price objective for the company. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $35.39.
The company has a 50 day moving average price of $36.49 and a 200 day moving average price of $33.55. The firm has a market cap of $2.82 billion and a price-to-earnings ratio of 17.93.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.98%. This is a boost from MB Financial’s previous quarterly dividend of $0.17. The ex-dividend date was Monday, June 13th.
In other MB Financial news, CFO Jill E. York sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $37.26, for a total transaction of $93,150.00. Following the transaction, the chief financial officer now owns 75,438 shares in the company, valued at approximately $2,810,819.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rose Marie Bouman sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $38.98, for a total value of $155,920.00. Following the transaction, the insider now owns 68,607 shares in the company, valued at approximately $2,674,300.86. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently bought and sold shares of MBFI. State of Tennessee Treasury Department purchased a new position in MB Financial during the fourth quarter worth $1,765,000. Nationwide Fund Advisors increased 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 during the period. Mutual of America Capital Management LLC increased 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. Rhumbline Advisers increased 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 during the period. Finally, New York State Common Retirement Fund increased 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 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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