Keefe, Bruyette & Woods Raises Price Target On MB Financial To $22

According to Keefe, Bruyette & Woods, MB Financial MBFI announced it entered into an agreement to sell $384 million of problem loans to Colony Capital Acquisitions, LLC for approximately $0.51/dollar, which is expected to reduce NPLs by roughly 50%. Keefe, Bruyette & Woods said that the decision to accelerate asset resolution is likely to be well received by the market, particularly given the execution price and limited impact to capital ratios. “Adjusting estimates and raising PT to $22.” MB Financial closed yesterday at $18.86.