MB Financial Inc. (MBFI) is Channing Capital Management LLC’s 3rd Largest Position
Channing Capital Management LLC lifted its holdings in MB Financial Inc. (NASDAQ:MBFI) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,598,971 shares of the bank’s stock after purchasing an additional 23,593 shares during the quarter. MB Financial accounts for about 2.7% of Channing Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Channing Capital Management LLC owned 1.91% of MB Financial worth $71,986,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Riverhead Capital Management LLC raised its stake in shares of MB Financial by 50.6% in the second quarter. Riverhead Capital Management LLC now owns 2,560 shares of the bank’s stock worth $113,000 after purchasing an additional 860 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of MB Financial by 20.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,255 shares of the bank’s stock worth $143,000 after purchasing an additional 556 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of MB Financial by 8.7% in the second quarter. PNC Financial Services Group Inc. now owns 3,263 shares of the bank’s stock worth $144,000 after purchasing an additional 262 shares during the last quarter. World Asset Management Inc purchased a new position in shares of MB Financial in the second quarter worth $201,000. Finally, Pitcairn Co. purchased a new position in shares of MB Financial in the second quarter worth $220,000. Hedge funds and other institutional investors own 74.86% of the company’s stock.
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In related news, Director Ronald D. Santo sold 2,542 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $39.78, for a total value of $101,120.76. Following the completion of the transaction, the director now owns 59,505 shares in the company, valued at approximately $2,367,108.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.05% of the company’s stock.
MB Financial (NASDAQ:MBFI) last issued its earnings results on Thursday, October 19th. The bank reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.08. The company had revenue of $252.21 million during the quarter, compared to analyst estimates of $253.15 million. MB Financial had a return on equity of 8.40% and a net margin of 20.21%. During the same quarter last year, the business posted $0.61 EPS.
Several analysts recently commented on the company. BidaskClub lowered MB Financial from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Zacks Investment Research lowered MB Financial from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $48.00 price objective on shares of MB Financial in a report on Friday, September 15th. Piper Jaffray Companies lowered MB Financial from an “overweight” rating to a “neutral” rating and set a $44.00 price objective for the company. in a report on Friday, July 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $45.00 price objective on shares of MB Financial in a report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. MB Financial has an average rating of “Hold” and an average price target of $47.50.
MB Financial Company 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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