Franklin Resources Inc. raised its position in MB Financial Inc. (NASDAQ:MBFI) by 28.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 693,326 shares of the bank’s stock after buying an additional 154,184 shares during the quarter. Franklin Resources Inc. owned about 0.83% of MB Financial worth $30,534,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MBFI. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of MB Financial by 20.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,255 shares of the bank’s stock worth $143,000 after purchasing an additional 556 shares in the last quarter. World Asset Management Inc purchased a new stake in shares of MB Financial during the 2nd quarter worth $201,000. Capstone Asset Management Co. boosted its position in shares of MB Financial by 5.8% during the 1st quarter. Capstone Asset Management Co. now owns 4,938 shares of the bank’s stock worth $211,000 after purchasing an additional 270 shares in the last quarter. Suntrust Banks Inc. purchased a new stake in shares of MB Financial during the 1st quarter worth $212,000. Finally, Pitcairn Co. purchased a new stake in shares of MB Financial during the 2nd quarter worth $220,000. 74.74% of the stock is currently owned by institutional investors.
Shares of MB Financial Inc. (MBFI) opened at 42.13 on Tuesday. The company has a 50 day moving average of $40.17 and a 200 day moving average of $42.15. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 19.22 and a beta of 1.14. MB Financial Inc. has a 52-week low of $35.00 and a 52-week high of $48.47.
MB Financial (NASDAQ:MBFI) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.10). The business had revenue of $239.51 million for the quarter, compared to analyst estimates of $247.39 million. MB Financial had a net margin of 19.12% and a return on equity of 7.99%. During the same period last year, the business posted $0.58 earnings per share. Analysts predict that MB Financial Inc. will post $2.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, September 14th. MB Financial’s dividend payout ratio (DPR) is 38.36%.
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Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of MB Financial from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Tuesday, July 4th. BidaskClub upgraded shares of MB Financial from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Jefferies Group LLC restated a “hold” rating and set a $48.00 target price on shares of MB Financial in a research report on Sunday, June 11th. Wedbush restated a “neutral” rating and set a $48.00 target price on shares of MB Financial in a research report on Tuesday, June 27th. Finally, ValuEngine lowered shares of MB Financial from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.56.
In related news, Director Ronald D. Santo sold 2,542 shares of MB Financial stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $39.78, for a total transaction of $101,120.76. Following the transaction, 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 filing with the SEC, which is available through this hyperlink. 4.93% of the stock is currently owned by company insiders.
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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