There has been some selling insider activity on MB Financial Inc. (NASDAQ:MBFI) recently. James N. Hallene, Director disclosed the sale of 4,877 shares of MBFI stock. The shares were purchased at an average price of $44.41. The Director now owns $1,013,347 of the stock per the Form 4 SEC filing. Jill E. York, VP reported the sale of 5,000 shares of (MBFI). The shares were sold on June 2nd for an average price of $42.30. York now owns $3,025,508 of the stock according to the SEC filing.
President and CEO Mitchell Feiger disclosed the sale of 11,825 shares. The shares were sold on May 16th for an average price of $43.60. The President and CEO now owns $6,135,566 of the stock according to the SEC filing.
MB Financial, Inc. (MB Financial), launched on July 2, 2001, is a financial holding company. The Business’s segments include banking, leasing and mortgage banking. As of December 31, 2016, the Business’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. (MB Financial Bank). Through MB Financial Bank, the Company offers a range of financial services to small and middle market businesses, and individuals in the markets that the Company serves. MB Financial Bank’s subsidiaries include LaSalle Systems Leasing, Inc. (LaSalle), Celtic Leasing Corp. (Celtic) and MB Equipment Finance, LLC, (MB Equipment Finance). MB Financial Bank also has a majority owned subsidiary with operating activities, Cedar Hill Associates, LLC (Cedar Hill)..
These funds have also shifted positions in (MBFI). Morgan Stanley augmented its ownership by buying 35 shares an increase of 4.2% as of 03/31/2017. Morgan Stanley now controls 872 shares worth $37,000. The value of the position overall is down by 7.5%. Goldman Sachs Group Inc grew its position by buying 27,582 shares an increase of 1.4% in the quarter. Goldman Sachs Group Inc currently owns 1,950,980 shares valued at $83,541,000. The total value of its holdings decreased 8.0%.
State Street Corp added to its stake by buying 159,350 shares an increase of 4.6%. State Street Corp claims 3,637,900 shares with a value of $155,776,000. The total value of its holdings decreased 5.2%. As of quarter end Cardinal Capital Management LLC /ct had acquired a total of 114,439 shares growing its position 5.9%. The value of the investment in MB Financial Inc. went from $92,053,000 to $88,358,000 a change of $3,695,000 quarter over quarter.
On October 24 the company was upgraded to “Buy” from “Neutral” and a price target of $43.00 was set by DA Davidson. On October 24, 2016 DA Davidson held the price objective at $43.00 and upgraded the company to Buy from Neutral.
On September 16 analysts at JMP Securities began coverage giving it an initial rating of “Market Perform”. On August 26 the stock rating was downgraded from “Buy” to “Hold” by analysts at Sandler O'Neill.
August 26 investment analysts at DA Davidson left the company rating at “Neutral” and raised the price target to $43.00 from $36.00. On July 7 JP Morgan kept the company rating at “Neutral” and moved down the price target from $37.50 to $36.50.
The company is up by 3.45% since yesterday’s close of $42.91. MB Financial Inc. announced a dividend that will be paid on Friday the 30th of June 2017. The dividend payment will be $0.210 per share for the quarter which is $0.84 annualized. This dividend represents a yeild of $2.04 which is the dividend as a percentage of the current share price. The ex-dividend date will be Monday the 13th of March 2017.
It is currently trading at $44.39 marginally over $42.70, the stock’s 50 day moving average and barely above the 200 day moving average of $44.09. The 50 day moving average moved up $1.69 and the 200 day average moved up $0.30.
The company’s P/E ratio is 19.71 and the market value is 3.71B. As of the last earnings report the EPS was $2.25 and is expected to be $2.64 for the current year with 83,662,000 shares currently outstanding. Next quarter’s EPS is expected be $0.69 with next year’s EPS anticipated to be $2.99.
Investors are feeling more bearish on shares of the company lately if you look at the increase in short interest. The stock experienced a rise in short interest from May 15, 2017 to April 28, 2017 of 8.50%. Short interest grew from 2,069,545 to 2,245,447 over that timeframe. With short interest at 2,245,447 and short average daily volume at 308,150, days to cover is 7.3 and the percentage of shorted shares is 0.03% as of April 28.