Brokerages expect MB Financial Inc. (NASDAQ:MBFI) to report $253.15 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for MB Financial’s earnings. The highest sales estimate is $259.50 million and the lowest is $244.30 million. MB Financial posted sales of $234.16 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.1%. The company is scheduled to announce its next quarterly earnings results on Thursday, October 19th.
According to Zacks, analysts expect that MB Financial will report full-year sales of $253.15 million for the current fiscal year, with estimates ranging from $970.50 million to $1.01 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.05 billion per share, with estimates ranging from $1.03 billion to $1.08 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover MB Financial.
MB Financial (NASDAQ:MBFI) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.10). MB Financial had a return on equity of 7.99% and a net margin of 19.12%. The firm had revenue of $239.51 million for the quarter, compared to analyst estimates of $247.39 million. During the same period in the prior year, the business earned $0.58 earnings per share.
A number of research analysts have issued reports on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 price target on shares of MB Financial in a report on Thursday. Zacks Investment Research cut shares of MB Financial from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Wedbush reaffirmed a “neutral” rating and issued a $48.00 price target on shares of MB Financial in a report on Tuesday, June 27th. Piper Jaffray Companies cut shares of MB Financial from an “overweight” rating to a “neutral” rating and set a $44.00 price target for the company. in a report on Monday, July 24th. Finally, BidaskClub cut shares of MB Financial from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $47.67.
In related news, Director Ronald D. Santo sold 2,542 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $39.78, for a total transaction of $101,120.76. Following the completion of the transaction, the director now owns 59,505 shares of the company’s stock, valued at $2,367,108.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 7.05% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Riverhead Capital Management LLC raised its holdings in shares of MB Financial by 50.6% during the second quarter. Riverhead Capital Management LLC now owns 2,560 shares of the bank’s stock worth $113,000 after purchasing an additional 860 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of MB Financial by 20.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,255 shares of the bank’s stock worth $143,000 after purchasing an additional 556 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of MB Financial by 8.7% during the second quarter. PNC Financial Services Group Inc. now owns 3,263 shares of the bank’s stock worth $144,000 after purchasing an additional 262 shares during the last quarter. World Asset Management Inc purchased a new position in shares of MB Financial during the second quarter worth $201,000. Finally, Pitcairn Co. purchased a new position in shares of MB Financial during the second quarter worth $220,000. 74.75% of the stock is owned by hedge funds and other institutional investors.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.84%. MB Financial’s dividend payout ratio (DPR) is presently 38.36%.
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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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