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.