Todays Report: Today, MB Financial Inc. (MBFI) Rating Increased to Buy at The Zacks Investment Research

Today, MB Financial Inc. (MBFI) Rating Increased to Buy at The Zacks Investment Research

Zacks Investment Research upgraded shares of MB Financial Inc. (NASDAQ:MBFI) from a hold rating to a buy rating in a report released on Wednesday. They currently have $49.00 price objective on the stock.

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 issued reports on MBFI. DA Davidson increased their target price on MB Financial from $39.19 to $43.00 and gave the stock a neutral rating in a research note 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 started coverage on MB Financial in a research note on Friday, September 16th. They set a market perform rating for the company. Finally, Jefferies Group reissued a hold rating and set a $39.00 target price on shares of MB Financial in a research note on Tuesday, November 1st. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $37.94.

Shares of MB Financial (NASDAQ:MBFI) opened at 43.11 on Wednesday. The stock has a 50 day moving average of $38.86 and a 200-day moving average of $37.65. The firm has a market capitalization of $3.34 billion, a PE ratio of 19.87 and a beta of 1.07. MB Financial has a 52 week low of $27.98 and a 52 week high of $44.34.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.76 annualized dividend and a dividend yield of 1.76%. MB Financial’s dividend payout ratio is currently 35.19%.

In related news, insider John Francoeur sold 600 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $43.00, for a total value of $25,800.00. Following the completion of the transaction, the insider now directly owns 7,382 shares of the company’s stock, valued at $317,426. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jill E. York sold 5,000 shares of the firm’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 completion of the transaction, the vice president now directly owns 69,889 shares of the company’s stock, valued at $2,729,165.45. The disclosure for this sale can be found here. Insiders own 7.05% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MBFI. Glenmede Trust Co. NA boosted its position in MB Financial by 90.1% in the second quarter. Glenmede Trust Co. NA now owns 14,178 shares of the company’s stock valued at $514,000 after buying an additional 6,720 shares in the last quarter. First Trust Advisors LP boosted its position in MB Financial by 23.4% in the second quarter. First Trust Advisors LP now owns 118,016 shares of the company’s stock valued at $4,282,000 after buying an additional 22,383 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in MB Financial during the second quarter valued at $17,147,000. Mutual of America Capital Management LLC boosted its position in MB Financial by 2.9% in the second quarter. Mutual of America Capital Management LLC now owns 88,586 shares of the company’s stock valued at $3,214,000 after buying an additional 2,478 shares in the last quarter. Finally, Shelton Capital Management purchased a new position in MB Financial during the second quarter valued at $211,000. 69.08% of the stock is owned by institutional investors and hedge funds.

MB Financial Company Profile

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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