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Shares of MB Financial Rise Above Previous 52-Week High

By Nick Russo

Shares of MB Financial (NASDAQ:MBFI) traded today at $39.48, breaking its 52-week high. Approximately 55,000 shares have changed hands today, as compared to an average 30-day volume of 315,000 shares.

MB Financial (NASDAQ:MBFI) is currently priced 4.4% above its average consensus analyst price target of $37.50. The stock should discover initial support at its 50-day moving average (MA) of $32.93 and subsequent support at its 200-day MA of $32.51.

MB Financial share prices have moved between a 52-week high of $39.48 and a 52-week low of $17.00 and are now trading 131% above that low price at $39.23 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has remained constant.

MB Financial, Inc. is the holding company for MB Financial Bank, N.A., a commercial bank serving middle market businesses and individuals. The Bank offers a range of products and services through branches located in Illinois.

SmarTrend recommended that subscribers consider buying shares of MB Financial on June 30th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.62. Since that recommendation, shares of MB Financial have risen 10.0%. We continue to monitor MBFI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows mb financial

Ticker(s): MBFI