Zacks Investment Research upgraded shares of MB Financial (NASDAQ:MBFI) from a sell rating to a hold rating in a research note issued to investors on Wednesday.
According to Zacks, “MB Financial, Inc. is a bank holding company which conducts a commercial banking business through Manufacturers Bank. “
MBFI has been the topic of a number of other research reports. Raymond James raised MB Financial from a market perform rating to an outperform rating in a report on Wednesday, October 31st. BidaskClub raised MB Financial from a sell rating to a hold rating in a report on Tuesday, December 25th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $50.40.
MBFI opened at $45.47 on Wednesday. The company has a market cap of $3.86 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.33 and a beta of 1.02. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. MB Financial has a twelve month low of $37.13 and a twelve month high of $51.59.
MB Financial (NASDAQ:MBFI) last released its quarterly earnings results on Tuesday, January 22nd. The bank reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.03. The company had revenue of $245.19 million for the quarter, compared to analysts’ expectations of $238.95 million. MB Financial had a return on equity of 8.06% and a net margin of 19.58%. During the same quarter in the previous year, the company posted $0.53 earnings per share. As a group, analysts anticipate that MB Financial will post 3.28 earnings per share for the current year.
In other news, VP Jill E. York sold 10,000 shares of MB Financial stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $45.65, for a total transaction of $456,500.00. Following the sale, the vice president now owns 72,391 shares of the company’s stock, valued at $3,304,649.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.69% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MBFI. Bank of Montreal Can raised its holdings in MB Financial by 4.7% during the third quarter. Bank of Montreal Can now owns 61,679 shares of the bank’s stock worth $2,844,000 after purchasing an additional 2,759 shares in the last quarter. Aperio Group LLC raised its holdings in MB Financial by 19.9% during the third quarter. Aperio Group LLC now owns 30,327 shares of the bank’s stock worth $1,398,000 after purchasing an additional 5,037 shares in the last quarter. Arizona State Retirement System raised its holdings in MB Financial by 2.4% during the third quarter. Arizona State Retirement System now owns 59,787 shares of the bank’s stock worth $2,757,000 after purchasing an additional 1,414 shares in the last quarter. Trilogy Capital Inc. bought a new stake in MB Financial during the third quarter worth approximately $195,000. Finally, Meeder Asset Management Inc. raised its holdings in MB Financial by 48.4% during the third quarter. Meeder Asset Management Inc. now owns 39,134 shares of the bank’s stock worth $1,804,000 after purchasing an additional 12,765 shares in the last quarter. 73.02% of the stock is currently owned by institutional investors.
About MB Financial
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.
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