MB Financial Inc. (MBFI) Expected to Post Quarterly Sales of $253.00 Million
Equities research analysts predict that MB Financial Inc. (NASDAQ:MBFI) will announce sales of $253.00 million for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for MB Financial’s earnings. The lowest sales estimate is $245.90 million and the highest is $259.20 million. MB Financial reported sales of $238.04 million in the same quarter last year, which would suggest a positive year over year growth rate of 6.3%. The firm is expected to report its next earnings results on Thursday, January 25th.
On average, analysts expect that MB Financial will report full year sales of $253.00 million for the current fiscal year, with estimates ranging from $971.30 million to $1.01 billion. For the next year, analysts anticipate that the company will report sales of $1.06 billion per share, with estimates ranging from $1.03 billion to $1.08 billion. Zacks Investment Research’s sales calculations 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 released its quarterly earnings data on Thursday, October 19th. The bank reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.08. The business had revenue of $252.21 million during the quarter, compared to analysts’ expectations of $253.15 million. MB Financial had a net margin of 20.21% and a return on equity of 8.40%. During the same period in the prior year, the company earned $0.61 EPS.
MBFI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $45.00 target price on shares of MB Financial in a research note on Tuesday, August 29th. SunTrust Banks, Inc. set a $48.00 target price on shares of MB Financial and gave the company a “buy” rating in a research note on Friday, October 20th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $48.00 target price on shares of MB Financial in a research note on Friday, September 15th. Zacks Investment Research raised shares of MB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $44.00 target price on shares of MB Financial in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. MB Financial has an average rating of “Hold” and a consensus target price of $47.50.
In other MB Financial news, Director Ronald D. Santo sold 2,542 shares of MB Financial stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $39.78, for a total transaction of $101,120.76. Following the transaction, the director now directly owns 59,505 shares of the company’s stock, valued at $2,367,108.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.05% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of MBFI. Riverhead Capital Management LLC increased its stake in shares of MB Financial by 50.6% in the second quarter. Riverhead Capital Management LLC now owns 2,560 shares of the bank’s stock worth $113,000 after buying an additional 860 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of MB Financial by 20.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,255 shares of the bank’s stock worth $143,000 after buying an additional 556 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of MB Financial by 8.7% in the second quarter. PNC Financial Services Group Inc. now owns 3,263 shares of the bank’s stock worth $144,000 after buying an additional 262 shares during the period. World Asset Management Inc purchased a new position in shares of MB Financial in the second quarter worth $201,000. Finally, Pitcairn Co. purchased a new position in shares of MB Financial in the second quarter worth $220,000. 74.86% of the stock is currently owned by institutional investors.
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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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