Sippican Capital Advisors reduced its position in MB Financial Inc. (NASDAQ:MBFI) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,638 shares of the bank’s stock after selling 377 shares during the period. Sippican Capital Advisors’ holdings in MB Financial were worth $1,217,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MBFI. BlackRock Inc. boosted its position in MB Financial by 17,590.9% in the first quarter. BlackRock Inc. now owns 7,742,414 shares of the bank’s stock worth $331,530,000 after buying an additional 7,698,649 shares in the last quarter. Vanguard Group Inc. boosted its position in MB Financial by 8.6% in the first quarter. Vanguard Group Inc. now owns 6,427,280 shares of the bank’s stock worth $275,215,000 after buying an additional 510,128 shares in the last quarter. Wellington Management Group LLP boosted its position in MB Financial by 1.5% in the first quarter. Wellington Management Group LLP now owns 6,206,904 shares of the bank’s stock worth $265,780,000 after buying an additional 89,695 shares in the last quarter. State Street Corp boosted its position in MB Financial by 4.6% in the first quarter. State Street Corp now owns 3,637,900 shares of the bank’s stock worth $155,776,000 after buying an additional 159,350 shares in the last quarter. Finally, Channing Capital Management LLC boosted its position in MB Financial by 8.9% in the first quarter. Channing Capital Management LLC now owns 1,630,866 shares of the bank’s stock worth $69,834,000 after buying an additional 133,370 shares in the last quarter. 74.48% of the stock is currently owned by institutional investors and hedge funds.
MB Financial Inc. (NASDAQ MBFI) traded down 0.79% during mid-day trading on Friday, hitting $38.89. 431,803 shares of the stock were exchanged. MB Financial Inc. has a 52 week low of $35.00 and a 52 week high of $48.47. The company’s 50-day moving average price is $42.20 and its 200 day moving average price is $43.11. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 17.74 and a beta of 1.13.
MB Financial (NASDAQ:MBFI) last posted its earnings results on Thursday, July 20th. The bank reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by $0.10. MB Financial had a return on equity of 7.99% and a net margin of 19.12%. The business had revenue of $239.51 million during the quarter, compared to the consensus estimate of $247.39 million. During the same quarter last year, the firm earned $0.58 earnings per share. Equities research analysts expect 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 MBFI shares. Piper Jaffray Companies cut MB Financial from an “overweight” rating to a “neutral” rating and set a $44.00 target price on the stock. in a research note on Friday, July 21st. Hovde Group reduced their price objective on MB Financial from $49.00 to $45.00 and set a “market perform” rating on the stock in a research note on Monday, July 24th. Zacks Investment Research cut MB Financial from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. BidaskClub cut MB Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $48.00 price objective on shares of MB Financial in a research note on Sunday, June 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. MB Financial has an average rating of “Hold” and a consensus price target of $47.67.
In related news, insider Mitchell Feiger sold 11,825 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $43.60, for a total transaction of $515,570.00. Following the transaction, the insider now directly owns 140,724 shares in the company, valued at approximately $6,135,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jill E. York sold 5,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $42.30, for a total transaction of $211,500.00. Following the transaction, the vice president now owns 71,525 shares in the company, valued at $3,025,507.50. The disclosure for this sale can be found here. Insiders have sold a total of 21,702 shares of company stock worth $943,609 over the last quarter. 7.05% of the stock is currently owned by 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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