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Watch for Continued Gains in Shares of MB Financial (MBFI)

By Amy Schwartz

Shares of MB Financial (NASDAQ:MBFI) traded today at $39.13, breaking its 52-week high. So far today approximately 179,000 shares have been exchanged, as compared to an average 30-day volume of 315,000 shares.

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.

In the past 52 weeks, MB Financial share prices have been bracketed by a low of $17.00 and a high of $39.13 and are now at $38.83, 128% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

MB Financial (NASDAQ:MBFI) is currently priced 3.4% above its average consensus analyst price target of $37.50. MB Financial shares have support at the 50-day moving average (MA) of $32.93 and additional support at the 200-day MA of $32.51.

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 8.3%. 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