MB Financial (MBFI) Cut to “Sell” at BidaskClub
BidaskClub lowered shares of MB Financial (NASDAQ:MBFI) from a hold rating to a sell rating in a research report report published on Tuesday morning.
Several other research firms also recently weighed in on MBFI. Zacks Investment Research downgraded MB Financial from a hold rating to a sell rating in a research note on Tuesday, October 10th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $45.00 price objective on shares of MB Financial in a research note on Tuesday, October 3rd. Jefferies Group reaffirmed a hold rating and issued a $48.00 price objective on shares of MB Financial in a research note on Friday, September 15th. SunTrust Banks set a $49.00 price objective on MB Financial and gave the company a buy rating in a research note on Thursday, November 16th. Finally, Piper Jaffray Companies reaffirmed a hold rating and issued a $44.00 price objective on shares of MB Financial in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $47.63.
Shares of MB Financial (NASDAQ:MBFI) traded down $0.55 during mid-day trading on Tuesday, hitting $43.29. The stock had a trading volume of 743,200 shares, compared to its average volume of 375,121. The stock has a market cap of $3,677.92, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 1.69 and a beta of 1.19. MB Financial has a fifty-two week low of $38.28 and a fifty-two week high of $48.47. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.94%. The ex-dividend date is Thursday, December 14th. MB Financial’s payout ratio is currently 35.90%.
In other MB Financial news, insider Mark A. Heckler sold 13,804 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $46.25, for a total transaction of $638,435.00. Following the sale, the insider now owns 55,236 shares in the company, valued at approximately $2,554,665. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jill E. York sold 5,000 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $44.60, for a total value of $223,000.00. Following the sale, the vice president now owns 65,430 shares in the company, valued at approximately $2,918,178. The disclosure for this sale can be found here. Company insiders own 7.05% of the company’s stock.
A number of large investors have recently made changes to their positions in MBFI. Northern Trust Corp grew its holdings in MB Financial by 13.8% during the 2nd quarter. Northern Trust Corp now owns 1,734,133 shares of the bank’s stock valued at $76,372,000 after buying an additional 210,352 shares during the last quarter. Federated Investors Inc. PA boosted its holdings in shares of MB Financial by 52.7% during the second quarter. Federated Investors Inc. PA now owns 582,318 shares of the bank’s stock worth $25,645,000 after purchasing an additional 201,060 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of MB Financial by 2.4% during the second quarter. BlackRock Inc. now owns 7,927,754 shares of the bank’s stock worth $349,139,000 after purchasing an additional 185,340 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of MB Financial by 38.1% during the third quarter. Wells Fargo & Company MN now owns 611,950 shares of the bank’s stock worth $27,550,000 after purchasing an additional 168,827 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of MB Financial by 28.6% during the second quarter. Franklin Resources Inc. now owns 693,326 shares of the bank’s stock worth $30,534,000 after purchasing an additional 154,184 shares during the last quarter. Hedge funds and other institutional investors own 76.61% of the company’s stock.
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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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