Nuveen Asset Management LLC Lowers Position in MB Financial Inc. (NASDAQ:MBFI)
Nuveen Asset Management LLC lowered its stake in shares of MB Financial Inc. (NASDAQ:MBFI) by 17.7% during the first quarter, Holdings Channel reports. The fund owned 26,312 shares of the bank’s stock after selling 5,668 shares during the period. Nuveen Asset Management LLC’s holdings in MB Financial were worth $1,127,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of MB Financial by 17,590.9% in the first quarter. BlackRock Inc. now owns 7,742,414 shares of the bank’s stock valued at $331,530,000 after buying an additional 7,698,649 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of MB Financial by 8.6% in the first quarter. Vanguard Group Inc. now owns 6,427,280 shares of the bank’s stock valued at $275,215,000 after buying an additional 510,128 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of MB Financial by 1.5% in the first quarter. Wellington Management Group LLP now owns 6,206,904 shares of the bank’s stock valued at $265,780,000 after buying an additional 89,695 shares during the last quarter. State Street Corp boosted its stake in shares of MB Financial by 4.6% in the first quarter. State Street Corp now owns 3,637,900 shares of the bank’s stock valued at $155,776,000 after buying an additional 159,350 shares during the last quarter. Finally, Channing Capital Management LLC boosted its stake in shares of MB Financial by 8.9% in the first quarter. Channing Capital Management LLC now owns 1,630,866 shares of the bank’s stock valued at $69,834,000 after buying an additional 133,370 shares during the last quarter. Hedge funds and other institutional investors own 74.34% of the company’s stock.
MB Financial Inc. (MBFI) opened at 40.50 on Friday. MB Financial Inc. has a 12-month low of $35.00 and a 12-month high of $48.47. The stock’s 50 day moving average price is $43.39 and its 200 day moving average price is $43.69. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 17.98 and a beta of 1.15.
MB Financial (NASDAQ:MBFI) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by $0.10. MB Financial had a return on equity of 8.04% and a net margin of 19.12%. The business had revenue of $239.51 million for the quarter, compared to the consensus estimate of $247.39 million. During the same quarter in the prior year, the business earned $0.58 EPS. On average, equities research analysts anticipate that MB Financial Inc. will post $2.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were paid a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.07%. This is a boost from MB Financial’s previous quarterly dividend of $0.19. MB Financial’s payout ratio is 38.36%.
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Several analysts have issued reports on MBFI shares. Piper Jaffray Companies restated a “buy” rating and set a $49.00 price objective on shares of MB Financial in a research note on Friday. Zacks Investment Research raised MB Financial from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Tuesday, July 4th. BidaskClub lowered MB Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Jefferies Group LLC reaffirmed a “hold” rating and set a $48.00 target price on shares of MB Financial in a report on Sunday, June 11th. Finally, ValuEngine lowered MB Financial from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $48.63.
In other news, insider Mitchell Feiger sold 11,825 shares of MB Financial stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $43.60, for a total value of $515,570.00. Following the completion of the transaction, the insider now owns 140,724 shares in the company, valued at $6,135,566.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James N. Hallene sold 4,877 shares of MB Financial stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $44.40, for a total transaction of $216,538.80. Following the completion of the transaction, the director now owns 25,339 shares of the company’s stock, valued at approximately $1,125,051.60. The disclosure for this sale can be found here. Insiders sold 21,702 shares of company stock valued at $943,609 in the last quarter. 7.05% of the stock is currently owned by corporate insiders.
MB Financial Company Profile
MB Financial, Inc (MB Financial) is a financial holding company. The Company’s segments include banking, leasing and mortgage banking. As of December 31, 2016, the Company’s primary market was the Chicago metropolitan area, in which the Company operated 95 banking offices through its bank subsidiary, MB Financial Bank, N.A.
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