Prudential Financial Inc. lessened its position in MB Financial Inc (NASDAQ:MBFI) by 7.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,011 shares of the bank’s stock after selling 4,390 shares during the period. Prudential Financial Inc.’s holdings in MB Financial were worth $2,675,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. K2 Principal Fund L.P. acquired a new stake in shares of MB Financial in the 2nd quarter worth about $2,588,000. Bank of Montreal Can increased its holdings in shares of MB Financial by 4.7% in the 3rd quarter. Bank of Montreal Can now owns 61,679 shares of the bank’s stock worth $2,844,000 after acquiring an additional 2,759 shares during the period. BlackRock Inc. increased its holdings in shares of MB Financial by 4.3% in the 2nd quarter. BlackRock Inc. now owns 9,403,590 shares of the bank’s stock worth $439,147,000 after acquiring an additional 384,850 shares during the period. Chicago Capital Management LLC acquired a new stake in shares of MB Financial in the 2nd quarter worth about $7,500,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of MB Financial by 8.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 554,559 shares of the bank’s stock worth $25,898,000 after acquiring an additional 44,874 shares during the period. 74.36% of the stock is currently owned by institutional investors and hedge funds.
MBFI has been the topic of a number of analyst reports. BidaskClub raised shares of MB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. Zacks Investment Research cut shares of MB Financial from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Finally, Raymond James raised shares of MB Financial from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $48.31.
MB Financial (NASDAQ:MBFI) last released its earnings results on Tuesday, October 23rd. The bank reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.15). The company had revenue of $241.69 million for the quarter, compared to analyst estimates of $238.85 million. MB Financial had a net margin of 26.11% and a return on equity of 7.48%. During the same period in the previous year, the business posted $0.72 EPS. As a group, research analysts forecast that MB Financial Inc will post 2.72 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.96 annualized dividend and a yield of 2.44%. MB Financial’s payout ratio is 40.17%.
In other MB Financial news, insider Brian J. Wildman sold 14,683 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $45.10, for a total transaction of $662,203.30. Following the transaction, the insider now owns 29,260 shares of the company’s stock, valued at approximately $1,319,626. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.69% of the stock is currently owned by company insiders.
TRADEMARK VIOLATION WARNING: “Prudential Financial Inc. Has $2.68 Million Position in MB Financial Inc (MBFI)” was published by WKRB News and is the property of of WKRB News. If you are accessing this report on another publication, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this report can be read at https://www.wkrb13.com/2018/12/16/prudential-financial-inc-has-2-68-million-position-in-mb-financial-inc-mbfi.html.
MB Financial Company Profile
MB Financial, Inc operates as a bank holding company for MB Financial Bank, N.A. that provides various financial services to small and middle market businesses, and individuals in the United States. The company operates through three segments: Banking, Leasing, and Mortgage Banking. The Banking segment offers commercial banking products, including working capital loans and lines of credit; accounts receivable financing; inventory and equipment financing; industrial revenue bond financing; ESOP financing; business acquisition loans; owner occupied real estate loans; asset-based loans; and financial, performance, and commercial letters of credit.
Want to see what other hedge funds are holding MBFI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MB Financial Inc (NASDAQ:MBFI).
Receive News & Ratings for MB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MB Financial and related companies with MarketBeat.com's FREE daily email newsletter.