Jefferies Reports MBFI 2Q First Look

Jefferies has issued a report on the 2Q first look from MB Financial MBFI. According to the report, "MBFI reported 1Q11 GAAP EPS of -$0.18 vs. consensus of -$0.35. A lowerthan-expected provision ($61mm) drove the beat after the company had preannounced at least $50mm in provisions from a bulk asset sale in the quarter. Despite the surface beat, the stock could be a bit weak as the loan book continues to run down and fee income growth looks weak under the surface." MBFI has a Hold Rating and a $22 Price Target. MBFI closed yesterday at $20.23 a share.