MB Financial Inc. (MBFI) Holdings Lifted by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC grew its stake in shares of MB Financial Inc. (NASDAQ:MBFI) by 8.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,570 shares of the bank’s stock after acquiring an additional 17,050 shares during the period. TIAA CREF Investment Management LLC owned about 0.26% of MB Financial worth $9,714,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in MBFI. BlackRock Inc. grew its holdings in MB Financial by 17,590.9% during the 1st quarter. BlackRock Inc. now owns 7,742,414 shares of the bank’s stock worth $331,530,000 after acquiring an additional 7,698,649 shares in the last quarter. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 510,128 shares in the last quarter. Federated Investors Inc. PA grew its holdings in MB Financial by 52.7% during the 2nd quarter. Federated Investors Inc. PA now owns 582,318 shares of the bank’s stock worth $25,645,000 after acquiring an additional 201,060 shares in the last quarter. Monarch Partners Asset Management LLC acquired a new position in MB Financial during the 2nd quarter worth $7,918,000. Finally, State Street Corp grew its holdings in 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 acquiring an additional 159,350 shares in the last quarter. 74.75% of the stock is owned by institutional investors.
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In other MB Financial news, Director Ronald D. Santo sold 2,542 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $39.78, for a total value of $101,120.76. Following the sale, the director now owns 59,505 shares of the company’s stock, valued at approximately $2,367,108.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 7.05% of the company’s stock.
MB Financial Inc. (MBFI) opened at 45.42 on Friday. MB Financial Inc. has a 12-month low of $35.00 and a 12-month high of $48.47. The stock has a 50 day moving average of $41.75 and a 200 day moving average of $42.13. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 20.72 and a beta of 1.18.
MB Financial (NASDAQ:MBFI) last released its earnings results on Thursday, July 20th. The bank reported $0.54 EPS for the quarter, missing the Thomson Reuters’ 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 net margin of 19.12% and a return on equity of 7.99%. During the same quarter in the previous year, the company earned $0.58 earnings per share. Equities research analysts anticipate that MB Financial Inc. will post $2.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, September 14th. MB Financial’s dividend payout ratio (DPR) is presently 38.36%.
Several research analysts have weighed in on MBFI shares. Zacks Investment Research raised shares of MB Financial from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Tuesday, July 4th. Jefferies Group LLC reissued a “hold” rating and set a $48.00 price objective on shares of MB Financial in a report on Friday, September 15th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $45.00 price objective on shares of MB Financial in a report on Tuesday, August 29th. BidaskClub raised shares of MB Financial from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Finally, Hovde Group decreased their price objective on shares of MB Financial from $49.00 to $45.00 and set a “market perform” rating for the company in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. MB Financial currently has an average rating of “Hold” and an average target price of $47.56.
About MB Financial
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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