Los Angeles Capital Management & Equity Research Inc. Lowers Position in MB Financial Inc. (MBFI)
Los Angeles Capital Management & Equity Research Inc. lowered its stake in shares of MB Financial Inc. (NASDAQ:MBFI) by 9.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,984 shares of the company’s stock after selling 2,525 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in MB Financial were worth $834,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Huntington Asset Advisors Inc. bought a new stake in shares of MB Financial during the first quarter worth $165,000. BlackRock Inc. boosted its stake in shares of MB Financial by 140.4% in the first quarter. BlackRock Inc. now owns 5,156 shares of the company’s stock worth $168,000 after buying an additional 3,011 shares during the last quarter. Shelton Capital Management bought a new stake in shares of MB Financial during the second quarter worth $211,000. 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 worth $268,000 after buying an additional 4,769 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of MB Financial by 14.9% in the first quarter. IFP Advisors Inc now owns 9,250 shares of the company’s stock worth $300,000 after buying an additional 1,201 shares during the last quarter. Hedge funds and other institutional investors own 64.52% of the company’s stock.
Shares of MB Financial Inc. (NASDAQ:MBFI) traded up 0.56% during trading on Monday, reaching $37.97. The company’s stock had a trading volume of 391,107 shares. The company has a market capitalization of $2.79 billion, a P/E ratio of 17.73 and a beta of 1.09. MB Financial Inc. has a 12 month low of $27.98 and a 12 month high of $39.50. The company’s 50-day moving average is $38.81 and its 200-day moving average is $35.59.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a dividend of $0.19 per share. The ex-dividend date is 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 is currently 35.68%.
A number of analysts have recently weighed in on MBFI shares. Sandler O’Neill cut MB Financial from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. JPMorgan Chase & Co. increased their price target on MB Financial from $35.50 to $36.50 and gave the stock a “neutral” rating in a research report on Thursday, July 7th. DA Davidson increased their price target on MB Financial from $39.19 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, August 26th. JMP Securities began coverage on MB Financial in a report on Friday. They issued a “market perform” rating for the company. Finally, Zacks Investment Research raised MB Financial from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Saturday, July 9th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $36.17.
In other MB Financial news, Director Thomas H. Harvey sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $37.96, for a total value of $759,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jill E. York sold 5,000 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was 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 owns 69,889 shares of the company’s stock, valued at $2,729,165.45. 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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