Zacks: Analysts Expect MB Financial Inc (MBFI) Will Post Quarterly Sales of $253.24 Million
Brokerages forecast that MB Financial Inc (NASDAQ:MBFI) will announce sales of $253.24 million for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for MB Financial’s earnings. The highest sales estimate is $259.50 million and the lowest is $244.30 million. MB Financial posted sales of $234.16 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.1%. The firm is expected to report its next earnings report on Thursday, October 19th.
According to Zacks, analysts expect that MB Financial will report full year sales of $253.24 million for the current financial year, with estimates ranging from $970.50 million to $1.01 billion. For the next financial year, analysts anticipate that the company will report sales of $1.05 billion per share, with estimates ranging from $1.03 billion to $1.08 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for MB Financial.
MB Financial (NASDAQ:MBFI) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.10). The company had revenue of $239.51 million during the quarter, compared to the consensus estimate of $247.39 million. MB Financial had a return on equity of 6.77% and a net margin of 18.57%. During the same period in the previous year, the company earned $0.58 EPS.
Several brokerages have recently issued reports on MBFI. BidaskClub upgraded MB Financial from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Wedbush restated a “neutral” rating and set a $48.00 target price on shares of MB Financial in a research note on Tuesday, June 27th. ValuEngine cut MB Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. Jefferies Group LLC restated a “hold” rating and set a $48.00 target price on shares of MB Financial in a research note on Sunday, June 11th. Finally, Zacks Investment Research cut MB Financial from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $47.56.
In related news, Director Ronald D. Santo sold 2,542 shares of MB Financial stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $39.78, for a total value of $101,120.76. Following the sale, the director now directly owns 59,505 shares in the company, valued at $2,367,108.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.93% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Sei Investments Co. boosted its position in MB Financial by 21.0% during the first quarter. Sei Investments Co. now owns 41,290 shares of the bank’s stock worth $1,768,000 after purchasing an additional 7,180 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in MB Financial by 108.5% during the second quarter. BNP Paribas Arbitrage SA now owns 36,867 shares of the bank’s stock worth $1,624,000 after purchasing an additional 19,187 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in MB Financial by 1.4% during the first quarter. Municipal Employees Retirement System of Michigan now owns 32,920 shares of the bank’s stock worth $1,410,000 after purchasing an additional 440 shares in the last quarter. Thrivent Financial For Lutherans boosted its position in MB Financial by 9.4% during the first quarter. Thrivent Financial For Lutherans now owns 13,380 shares of the bank’s stock worth $573,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in MB Financial by 2.4% during the second quarter. Blair William & Co. IL now owns 175,836 shares of the bank’s stock worth $7,744,000 after purchasing an additional 4,079 shares in the last quarter. Institutional investors own 74.75% of the company’s stock.
Shares of MB Financial (MBFI) traded up 0.28% during midday trading on Friday, reaching $43.21. 263,926 shares of the company’s stock traded hands. MB Financial has a one year low of $35.00 and a one year high of $48.47. The company has a 50-day moving average of $40.22 and a 200-day moving average of $42.12. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 19.71 and a beta of 1.14.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Thursday, September 14th. MB Financial’s payout ratio is currently 38.36%.
About MB Financial
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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