MB Financial Inc. (MBFI) Hits New 12-Month High at $39.27
MB Financial Inc. (NASDAQ:MBFI) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $39.27 and last traded at $39.20, with a volume of 119,948 shares trading hands. The stock had previously closed at $38.67.
A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. restated a “hold” rating on shares of MB Financial in a research report on Saturday, July 9th. Zacks Investment Research upgraded shares of MB Financial from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Saturday, July 9th. Finally, Piper Jaffray Cos. assumed coverage on shares of MB Financial in a research report on Friday, June 10th. They set an “overweight” rating and a $41.00 target price on the stock. Five research 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 stock has a 50 day moving average price of $37.36 and a 200-day moving average price of $34.18. The firm has a market capitalization of $2.88 billion and a price-to-earnings ratio of 18.29.
In other MB Financial news, Director Thomas H. Harvey sold 20,000 shares of MB Financial stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $37.96, for a total value of $759,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rose Marie Bouman sold 4,000 shares of MB Financial stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $38.98, for a total value of $155,920.00. Following the completion of 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.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. State of Tennessee Treasury Department acquired a new position in MB Financial during the fourth quarter worth about $1,765,000. Piermont Capital Management Inc. acquired a new position in MB Financial during the fourth quarter worth about $2,810,000. New York State Common Retirement Fund boosted 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. California Public Employees Retirement System boosted its position in MB Financial by 1.0% in the fourth quarter. California Public Employees Retirement System now owns 157,500 shares of the company’s stock worth $5,098,000 after buying an additional 1,600 shares in the last quarter. Finally, Principal Financial Group Inc. boosted 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 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.