Monarch Partners Asset Management LLC Acquires New Stake in MB Financial Inc. (NASDAQ:MBFI)
Monarch Partners Asset Management LLC acquired a new stake in MB Financial Inc. (NASDAQ:MBFI) during the second quarter, Holdings Channel reports. The fund acquired 179,780 shares of the bank’s stock, valued at approximately $7,918,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MBFI. Sei Investments Co. boosted its position in MB Financial by 21.0% in the first quarter. Sei Investments Co. now owns 41,290 shares of the bank’s stock valued at $1,768,000 after buying an additional 7,180 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of MB Financial by 1.4% in the first quarter. Municipal Employees Retirement System of Michigan now owns 32,920 shares of the bank’s stock worth $1,410,000 after buying an additional 440 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of MB Financial by 8.0% in the fourth quarter. Teachers Advisors LLC now owns 118,139 shares of the bank’s stock worth $5,580,000 after buying an additional 8,746 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of MB Financial by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 18,000 shares of the bank’s stock worth $771,000 after buying an additional 400 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of MB Financial by 4.5% in the first quarter. Bank of New York Mellon Corp now owns 1,092,300 shares of the bank’s stock worth $46,772,000 after buying an additional 47,122 shares during the last quarter. Hedge funds and other institutional investors own 74.48% of the company’s stock.
Shares of MB Financial Inc. (NASDAQ:MBFI) opened at 38.89 on Friday. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 17.74 and a beta of 1.13. The company has a 50-day moving average price of $42.20 and a 200 day moving average price of $43.11. MB Financial Inc. has a 1-year low of $35.00 and a 1-year high of $48.47.
MB Financial (NASDAQ:MBFI) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by $0.10. MB Financial had a net margin of 19.12% and a return on equity of 7.99%. The company had revenue of $239.51 million for the quarter, compared to the consensus estimate of $247.39 million. During the same quarter in the previous year, the firm posted $0.58 earnings per share. On average, equities research analysts predict that MB Financial Inc. will post $2.44 EPS for the current year.
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A number of research analysts recently commented on the company. BidaskClub cut MB Financial from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Zacks Investment Research cut MB Financial from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Hovde Group decreased their price target on MB Financial from $49.00 to $45.00 and set a “market perform” rating on the stock in a research report on Monday, July 24th. Piper Jaffray Companies cut MB Financial from an “overweight” rating to a “neutral” rating and set a $44.00 price target on the stock. in a research report on Monday, July 24th. Finally, Wedbush restated a “neutral” rating and issued a $48.00 price target on shares of MB Financial in a research report on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $47.67.
In other MB Financial news, VP Jill E. York sold 5,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $42.30, for a total value of $211,500.00. Following the transaction, the vice president now directly owns 71,525 shares in the company, valued at approximately $3,025,507.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mitchell Feiger sold 11,825 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $43.60, for a total value of $515,570.00. Following the completion of the transaction, the insider now owns 140,724 shares in the company, valued at $6,135,566.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,702 shares of company stock worth $943,609. 7.05% of the stock is currently owned by corporate insiders.
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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