Trading Report: Today: JPMorgan Chase & Co. Acquires 18,576 Shares of MB Financial Inc. (MBFI)

Today: JPMorgan Chase & Co. Acquires 18,576 Shares of MB Financial Inc. (MBFI)

JPMorgan Chase & Co. boosted its stake in MB Financial Inc. (NASDAQ:MBFI) by 19.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 115,290 shares of the company’s stock after buying an additional 18,576 shares during the period. JPMorgan Chase & Co. owned about 0.16% of MB Financial worth $4,182,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Capstone Asset Management Co. boosted its stake in shares of MB Financial by 2.2% in the second quarter. Capstone Asset Management Co. now owns 20,775 shares of the company’s stock valued at $754,000 after buying an additional 440 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of MB Financial by 121.5% in the second quarter. BNP Paribas Arbitrage SA now owns 21,964 shares of the company’s stock valued at $797,000 after buying an additional 12,049 shares in the last quarter. Endeavour Capital Advisors Inc. boosted its stake in shares of MB Financial by 0.7% in the first quarter. Endeavour Capital Advisors Inc. now owns 126,469 shares of the company’s stock valued at $4,104,000 after buying an additional 884 shares in the last quarter. Barclays PLC boosted its stake in shares of MB Financial by 132.5% in the first quarter. Barclays PLC now owns 8,369 shares of the company’s stock valued at $268,000 after buying an additional 4,769 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of MB Financial by 33.3% in the first quarter. Wellington Management Group LLP now owns 2,888,141 shares of the company’s stock valued at $93,720,000 after buying an additional 721,226 shares in the last quarter. 64.18% of the stock is owned by hedge funds and other institutional investors.

Shares of MB Financial Inc. (NASDAQ:MBFI) traded up 0.81% during trading on Friday, hitting $37.26. The company had a trading volume of 266,429 shares. The stock has a 50-day moving average of $38.18 and a 200 day moving average of $36.39. MB Financial Inc. has a 12-month low of $27.98 and a 12-month high of $39.50. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 17.40 and a beta of 1.06.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.04%. MB Financial’s payout ratio is 35.68%.

Several brokerages have weighed in on MBFI. DA Davidson boosted their price objective on MB Financial from $39.19 to $43.00 and gave the stock a “neutral” rating in a report on Friday, August 26th. Sandler O’Neill cut MB Financial from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. JMP Securities assumed coverage on MB Financial in a research note on Friday, September 16th. They issued a “market perform” rating for the company. Zacks Investment Research raised MB Financial from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Friday, October 7th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of MB Financial in a research note on Saturday, July 9th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $36.28.

In related news, Director Thomas H. Harvey sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $37.96, for a total transaction of $759,200.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Rose Marie Bouman sold 4,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $38.98, for a total value of $155,920.00. Following the sale, the insider now owns 68,607 shares in the company, valued at $2,674,300.86. The disclosure for this sale can be found here. Corporate insiders own 7.05% of the company’s stock.

About MB Financial

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.

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