MB Financial Inc. (MBFI) Holdings Increased by NJ State Employees Deferred Compensation Plan
NJ State Employees Deferred Compensation Plan raised its position in shares of MB Financial Inc. (NASDAQ:MBFI) by 33.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,000 shares of the bank’s stock after purchasing an additional 5,000 shares during the quarter. NJ State Employees Deferred Compensation Plan’s holdings in MB Financial were worth $900,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Riverhead Capital Management LLC raised its stake in MB Financial by 50.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,560 shares of the bank’s stock valued at $113,000 after purchasing an additional 860 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of MB Financial by 20.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,255 shares of the bank’s stock worth $143,000 after acquiring an additional 556 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of MB Financial by 8.7% in the second quarter. PNC Financial Services Group Inc. now owns 3,263 shares of the bank’s stock worth $144,000 after acquiring an additional 262 shares during the last quarter. World Asset Management Inc acquired a new position in shares of MB Financial in the second quarter worth $201,000. Finally, Pitcairn Co. acquired a new position in shares of MB Financial in the second quarter worth $220,000. 74.86% of the stock is currently owned by institutional investors.
MB Financial (NASDAQ:MBFI) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.08. MB Financial had a net margin of 20.21% and a return on equity of 8.40%. The firm had revenue of $252.21 million for the quarter, compared to analyst estimates of $253.15 million. During the same period in the previous year, the business earned $0.61 EPS.
A number of equities analysts have recently weighed in on MBFI shares. BidaskClub downgraded shares of MB Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research downgraded shares of MB Financial from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $48.00 price target on shares of MB Financial in a research note on Friday, September 15th. Piper Jaffray Companies downgraded shares of MB Financial from an “overweight” rating to a “neutral” rating and set a $44.00 price target on the stock. in a research note on Friday, July 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $45.00 price target on shares of MB Financial in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. MB Financial currently has an average 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 sale, the director now directly owns 59,505 shares in the company, valued at approximately $2,367,108.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.05% of the stock is currently owned by 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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