MB Financial Inc (MBFI) Position Raised by Metropolitan Life Insurance Co. NY
Metropolitan Life Insurance Co. NY increased its holdings in shares of MB Financial Inc (NASDAQ:MBFI) by 2.2% in the 2nd quarter, Holdings Channel reports. The firm owned 48,744 shares of the bank’s stock after acquiring an additional 1,064 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in MB Financial were worth $2,276,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of MBFI. Wolverine Asset Management LLC purchased a new stake in MB Financial during the second quarter worth approximately $172,000. Gideon Capital Advisors Inc. purchased a new stake in MB Financial during the second quarter worth approximately $219,000. Signition LP purchased a new stake in MB Financial during the first quarter worth approximately $244,000. Pitcairn Co. lifted its stake in MB Financial by 61.7% during the first quarter. Pitcairn Co. now owns 7,906 shares of the bank’s stock worth $320,000 after purchasing an additional 3,018 shares during the last quarter. Finally, Hilltop Holdings Inc. purchased a new stake in MB Financial during the first quarter worth approximately $330,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.
MBFI has been the subject of several recent analyst reports. DA Davidson boosted their target price on MB Financial to $54.20 in a research note on Tuesday, May 22nd. ValuEngine upgraded MB Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, May 22nd. SunTrust Banks cut MB Financial from a “buy” rating to a “hold” rating in a research note on Friday, June 1st. BidaskClub cut MB Financial from a “hold” rating to a “sell” rating in a research note on Thursday, June 28th. Finally, Zacks Investment Research cut MB Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. The company has an average rating of “Hold” and a consensus price target of $47.90.
MB Financial (NASDAQ:MBFI) last released its quarterly earnings results on Wednesday, July 18th. The bank reported $0.68 EPS for the quarter, hitting the consensus estimate of $0.68. The company had revenue of $247.38 million for the quarter, compared to analyst estimates of $241.37 million. MB Financial had a return on equity of 7.92% and a net margin of 27.78%. During the same quarter in the previous year, the company posted $0.51 earnings per share. equities analysts predict that MB Financial Inc will post 2.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.03%. The ex-dividend date is Thursday, September 13th. MB Financial’s dividend payout ratio (DPR) is 40.17%.
In other MB Financial news, VP Jill E. York sold 5,000 shares of MB Financial stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $48.75, for a total transaction of $243,750.00. Following the transaction, the vice president now owns 62,691 shares of the company’s stock, valued at $3,056,186.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.69% of the company’s stock.
MB Financial Profile
MB Financial, Inc operates as a bank holding company for MB Financial Bank, N.A. that provides various financial services to small and middle market businesses, and individuals in the United States. The company operates through three segments: Banking, Leasing, and Mortgage Banking. The Banking segment offers commercial banking products, including working capital loans and lines of credit; accounts receivable financing; inventory and equipment financing; industrial revenue bond financing; ESOP financing; business acquisition loans; owner occupied real estate loans; asset-based loans; and financial, performance, and commercial letters of credit.
Further Reading: How do investors use RSI to grade stocks?
Want to see what other hedge funds are holding MBFI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MB Financial Inc (NASDAQ:MBFI).
Receive News & Ratings for MB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MB Financial and related companies with MarketBeat.com's FREE daily email newsletter.