J.P. Morgan Comments on MB Financial's Q4 10 EPS Beat (MBFI)

J.P. Morgan is out with its report today on MB Financial MBFI, commenting on MBFI's Q4 10 EPS beat. In a note to clients, J.P. Morgan writes, "Core EPS beats Street, credit quality heads in right direction. MBFI reported 4Q10 results of $0.01. Removing several largely offsetting non-recurring items, at first blush core EPS of $0.03 came in above our $0.00 estimate and well above consensus at ($0.13). We would suspect that the 4Q10 beat versus the Street was on MB's provision line, with credit quality heading in the right direction." J.P. Morgan maintains Overweight on MBFI. Shares of MBFI closed Thursday at $17.99, up 2.16% from Wednesday's close.