Amalgamated Bank Has $502,000 Position in MB Financial Inc. (MBFI)
Amalgamated Bank increased its stake in shares of MB Financial Inc. (NASDAQ:MBFI) by 7.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,391 shares of the bank’s stock after buying an additional 810 shares during the quarter. Amalgamated Bank’s holdings in MB Financial were worth $502,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of MB Financial by 2.4% during the 2nd quarter. BlackRock Inc. now owns 7,927,754 shares of the bank’s stock worth $349,139,000 after buying an additional 185,340 shares during the period. Vanguard Group Inc. lifted its position in shares of MB Financial by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 6,427,280 shares of the bank’s stock worth $275,215,000 after buying an additional 510,128 shares during the period. State Street Corp lifted its position in shares of MB Financial by 4.6% during the 1st quarter. State Street Corp now owns 3,637,900 shares of the bank’s stock worth $155,776,000 after buying an additional 159,350 shares during the period. Bank of New York Mellon Corp lifted its position in shares of MB Financial by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,110,951 shares of the bank’s stock worth $48,926,000 after buying an additional 18,651 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of MB Financial by 28.6% during the 2nd quarter. Franklin Resources Inc. now owns 693,326 shares of the bank’s stock worth $30,534,000 after buying an additional 154,184 shares during the period. Institutional investors and hedge funds own 74.75% of the company’s stock.
MB Financial Inc. (MBFI) opened at 44.70 on Thursday. MB Financial Inc. has a 12 month low of $35.00 and a 12 month high of $48.47. The company has a market cap of $3.75 billion, a P/E ratio of 20.39 and a beta of 1.18. The firm has a 50-day moving average price of $41.40 and a 200 day moving average price of $42.10.
MB Financial (NASDAQ:MBFI) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.10). The company had revenue of $239.51 million for the quarter, compared to analyst estimates of $247.39 million. MB Financial had a return on equity of 7.99% and a net margin of 19.12%. During the same period in the prior year, the company earned $0.58 EPS. On average, equities analysts expect that MB Financial Inc. will post $2.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, September 14th. MB Financial’s payout ratio is presently 38.36%.
In other MB Financial news, Director Ronald D. Santo sold 2,542 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $39.78, for a total transaction of $101,120.76. Following the completion of the sale, the director now directly owns 59,505 shares in the company, valued at $2,367,108.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.05% of the stock is owned by corporate insiders.
MBFI has been the subject of several analyst reports. Piper Jaffray Companies downgraded MB Financial from an “overweight” rating to a “neutral” rating and set a $44.00 target price for the company. in a research report on Friday, July 21st. Hovde Group cut their target price on MB Financial from $49.00 to $45.00 and set a “market perform” rating for the company in a research report on Monday, July 24th. Keefe, Bruyette & Woods restated a “hold” rating and set a $45.00 target price on shares of MB Financial in a research report on Tuesday. Zacks Investment Research downgraded MB Financial from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Jefferies Group LLC restated a “hold” rating and set a $48.00 target price on shares of MB Financial in a research report on Friday, September 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. MB Financial has an average rating of “Hold” and an average price target of $47.56.
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MB Financial Profile
MB Financial, Inc (MB Financial) is a financial holding company. The Company’s segments include banking, leasing and mortgage banking. As of December 31, 2016, the Company’s primary market was the Chicago metropolitan area, in which the Company operated 95 banking offices through its bank subsidiary, MB Financial Bank, N.A.
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