State Treasurer State of Michigan raised its stake in MB Financial Inc. (NASDAQ:MBFI) by 7.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,500 shares of the bank’s stock after buying an additional 2,100 shares during the period. State Treasurer State of Michigan’s holdings in MB Financial were worth $1,418,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of MBFI. Riverhead Capital Management LLC raised its stake in shares of MB Financial by 50.6% during the second quarter. Riverhead Capital Management LLC now owns 2,560 shares of the bank’s stock valued at $113,000 after acquiring an additional 860 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of MB Financial by 20.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,255 shares of the bank’s stock valued at $143,000 after acquiring an additional 556 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of MB Financial by 8.7% during the second quarter. PNC Financial Services Group Inc. now owns 3,263 shares of the bank’s stock valued at $144,000 after acquiring an additional 262 shares during the last quarter. World Asset Management Inc bought a new position in shares of MB Financial during the second quarter valued at $201,000. Finally, Pitcairn Co. bought a new position in shares of MB Financial during the second quarter valued at $220,000. Hedge funds and other institutional investors own 74.88% of the company’s stock.
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MB Financial Inc. (NASDAQ:MBFI) opened at $46.17 on Tuesday. MB Financial Inc. has a 52 week low of $35.92 and a 52 week high of $48.47. The firm has a market cap of $3,873.91, a price-to-earnings ratio of 18.85, a P/E/G ratio of 1.78 and a beta of 1.21. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.89.
MB Financial (NASDAQ:MBFI) last announced its earnings results on Thursday, October 19th. The bank reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.08. MB Financial had a net margin of 20.21% and a return on equity of 8.40%. The business had revenue of $252.21 million during the quarter, compared to the consensus estimate of $253.15 million. During the same quarter last year, the firm earned $0.61 earnings per share. analysts expect that MB Financial Inc. will post 2.47 EPS for the current fiscal year.
Several equities analysts have recently issued reports on MBFI shares. Zacks Investment Research downgraded shares of MB Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Piper Jaffray Companies downgraded shares of MB Financial from an “overweight” rating to a “neutral” rating and set a $44.00 price target for the company. in a research note on Friday, July 21st. Hovde Group dropped their price target on shares of MB Financial from $49.00 to $45.00 and set a “market perform” rating for the company in a research note on Monday, July 24th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $45.00 price target on shares of MB Financial in a research note on Tuesday, October 3rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $48.00 price target on shares of MB Financial in a research note on Friday, September 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $47.50.
In other MB Financial news, Director Ronald D. Santo sold 2,542 shares of MB Financial 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 completion of the sale, the director now directly owns 59,505 shares of the company’s stock, valued at $2,367,108.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.93% of the company’s stock.
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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