Karp Capital Management Corp acquired a new stake in MB Financial Inc. (NASDAQ:MBFI) during the first quarter, according to its most recent disclosure with the SEC. The firm acquired 17,276 shares of the bank’s stock, valued at approximately $740,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MBFI. UBS Asset Management Americas Inc. increased its position in MB Financial by 27.5% in the first quarter. UBS Asset Management Americas Inc. now owns 44,557 shares of the bank’s stock valued at $1,908,000 after buying an additional 9,600 shares in the last quarter. Swiss National Bank increased its position in MB Financial by 13.5% in the first quarter. Swiss National Bank now owns 130,812 shares of the bank’s stock valued at $5,601,000 after buying an additional 15,600 shares in the last quarter. Comerica Bank increased its position in MB Financial by 4.7% in the first quarter. Comerica Bank now owns 55,068 shares of the bank’s stock valued at $2,373,000 after buying an additional 2,459 shares in the last quarter. Suntrust Banks Inc. purchased a new position in MB Financial during the first quarter valued at about $212,000. Finally, Bank of New York Mellon Corp increased its position in 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 valued at $46,772,000 after buying an additional 47,122 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MB Financial Inc. (NASDAQ:MBFI) opened at 44.53 on Friday. The company has a market cap of $3.73 billion, a PE ratio of 19.77 and a beta of 1.16. MB Financial Inc. has a 12 month low of $32.72 and a 12 month high of $48.47. The firm’s 50 day moving average is $42.97 and its 200 day moving average is $44.12.
MB Financial (NASDAQ:MBFI) last issued its quarterly earnings results on Thursday, April 27th. The bank reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $234.82 million for the quarter, compared to analyst estimates of $240.47 million. MB Financial had a net margin of 19.64% and a return on equity of 8.37%. During the same quarter in the previous year, the business earned $0.54 earnings per share. On average, equities analysts predict that MB Financial Inc. will post $2.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a $0.21 dividend. This is a positive change from MB Financial’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.84 annualized dividend and a yield of 1.89%. MB Financial’s payout ratio is presently 37.33%.
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Several research analysts have issued reports on the company. BidaskClub raised MB Financial from a “sell” rating to a “hold” rating in a report on Thursday. Jefferies Group LLC reaffirmed a “hold” rating and set a $48.00 price objective on shares of MB Financial in a report on Sunday, June 11th. ValuEngine downgraded MB Financial from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. Zacks Investment Research downgraded MB Financial from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Finally, Keefe, Bruyette & Woods set a $46.00 price objective on MB Financial and gave the stock a “hold” rating in a report on Monday, April 3rd. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $46.50.
In related news, insider Mitchell Feiger sold 11,825 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $43.60, for a total value of $515,570.00. Following the transaction, the insider now owns 140,724 shares in the company, valued at $6,135,566.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James N. Hallene sold 4,877 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $44.40, for a total transaction of $216,538.80. Following the completion of the transaction, the director now owns 25,339 shares in the company, valued at approximately $1,125,051.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,702 shares of company stock worth $943,609. 7.05% of the stock is owned by company 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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