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MB Financial beats 1Q profit forecasts

CHICAGO (AP) _ MB Financial Inc. (MBFI) on Thursday reported first-quarter net income of $54.5 million.

The Chicago-based bank said it had earnings of 62 cents per share. Earnings, adjusted for non-recurring gains, were 60 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The holding company for MB Financial Bank posted revenue of $247.7 million in the period. Its adjusted revenue was $234.8 million, which missed Street forecasts. Six analysts surveyed by Zacks expected $240.5 million.

MB Financial shares have fallen nearly 9 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $43.09, a climb of 22 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MBFI at https://www.zacks.com/ap/MBFI

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Keywords: MB Financial, Earnings Report