The MB Financial Inc. (MBFI) Raised to Buy at Zacks Investment Research

The MB Financial Inc. (MBFI) Raised to Buy at Zacks Investment Research

MB Financial Inc. (NASDAQ:MBFI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm currently has a $42.00 price objective on the stock. Zacks Investment Research’s target price suggests a potential upside of 10.70% from the company’s previous close.

According to Zacks, “MB Financial, Inc. is a bank holding company which conducts a commercial banking business through Manufacturers Bank. “

A number of other analysts have also recently weighed in on MBFI. JPMorgan Chase & Co. reissued a “hold” rating on shares of MB Financial in a report on Saturday, July 9th. Sandler O’Neill lowered shares of MB Financial from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Piper Jaffray Cos. initiated coverage on shares of MB Financial in a research report on Friday, June 10th. They set an “overweight” rating and a $41.00 target price on the stock. JMP Securities initiated coverage on shares of MB Financial in a research report on Friday, September 16th. They set a “market perform” rating on the stock. Finally, DA Davidson raised their target price on shares of MB Financial from $39.19 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, August 26th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $36.28.

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MB Financial (NASDAQ:MBFI) traded up 0.08% during trading on Friday, reaching $37.94. 563,128 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 17.72 and a beta of 1.06. The stock has a 50-day moving average price of $38.40 and a 200 day moving average price of $36.24. MB Financial has a 52 week low of $27.98 and a 52 week high of $39.50.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a $0.19 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.76 dividend on an annualized basis and a yield of 2.00%. MB Financial’s dividend payout ratio (DPR) is 35.68%.

In other MB Financial news, VP Jill E. York sold 5,000 shares of the business’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $39.05, for a total transaction of $195,250.00. Following the sale, the vice president now directly owns 69,889 shares in the company, valued at approximately $2,729,165.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rose Marie Bouman sold 4,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $38.98, for a total transaction 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. 7.05% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of MBFI. Vanguard Group Inc. raised its stake in shares of MB Financial by 3.5% in the second quarter. Vanguard Group Inc. now owns 5,482,492 shares of the company’s stock valued at $198,904,000 after buying an additional 185,069 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of MB Financial by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,039,154 shares of the company’s stock valued at $182,817,000 after buying an additional 119,584 shares during the last quarter. Wellington Management Group LLP raised 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 during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of MB Financial by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,795,095 shares of the company’s stock valued at $58,251,000 after buying an additional 12,360 shares during the last quarter. Finally, RidgeWorth Capital Management LLC raised its stake in shares of MB Financial by 1.7% in the second quarter. RidgeWorth Capital Management LLC now owns 1,702,300 shares of the company’s stock valued at $61,470,000 after buying an additional 28,900 shares during the last quarter. Institutional investors own 64.18% 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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