uploads/2015/10/mbfi-pm.jpg

MB Financial Reported Mixed Results in 3Q15

By

Updated

MB Financial’s price movement

MB Financial (MBFI) has a market cap of $2.4 billion. Its YTD (year-to-date) price movement is a mix of ups and downs in 2015. After the earnings report in 3Q15, MB Financial rose by 0.1% to close at $31.30 per share as of October 15, 2015. The price movement on a weekly, monthly, and YTD basis is -5.4%, -6.1%, and -3.3%, respectively.

Technically, it has broken the major support. It’s trading below all of the moving day averages. Currently, it’s trading at -3.3% below the 20-day moving average, -3.7% below the 50-day moving average, and -1.6% below the 200-day moving average.

Article continues below advertisement

The PowerShares KBW Regional Banking Portfolio (KBWR) invests 2.1% of its holdings in MB Financial. KBWR tracks an equal-weighted index focused exclusively on US regional banking firms. KBWR’s YTD price movement is 3.3% as of October 14, 2015. The KBE Bank Fund (KBE) invests 1.5% of its holdings in MB Financial.

MB Financial’s competitors and their market caps are:

  • Commerce Bancshares (CBSH) – $4.1 billion
  • PrivateBancorp (PVTB) – $3.2 billion
  • Firstmerit (FMER) – $2.9 billion
  • Wintrust Financial (WTFC) – $2.4 billion

MB Financial’s performance in 3Q15

The company reported net interest income of $116 million in 3Q15—a rise of 1.3% on a quarterly basis. The interest income from banking and mortgage banking rose by 0.34% and 16.9% in 3Q15. The non-interest income fell to $82.3 million in 3Q15—a fall of $0.84% compared to the non-interest income of $83 million in 3Q14. The non-interest income from mortgage origination fees and mortgage servicing fees fell by 12.7% and 17.6%. The non-interest income from lease financing rose by 28.5% in 3Q15. The net income and EPS (earnings per share) fell to $40.3 million and $0.51 per share in 3Q15—a fall of 1.6% and 1.9% on a quarterly basis. The total loans rose by 3.2% in 3Q15. The non-performing loans and non-performing assets fell by 1.5% and 0.21% in 3Q15.

On August 27, 2015, MB Financial completed the acquisition of the JPMorgan Chase Illinois court-appointed guardianship and special needs trust business.

On August 28, 2015, the company announced a cash dividend of $0.17 per share of MB Financial common stock.

About MB Financial

MB Financial is a financial holding company. It offers services to:

  • individuals – banking and borrowing
  • businesses – banking and treasury management
  • commercial level – financing and treasury management
Advertisement

More From Market Realist