MB Financial (MBFI) Misses Estimates, Shares Fall 7%

Shares of MB Financial, Inc. (NASDAQ: MBFI) plunged on Monday, after the bank holding company released financial results that failed to meet Wall Street expectations.

MB Financial, Inc. reported that it narrowed its 1st quarter loss to $1.6 million, or 3 cents per share, from a loss of $30.6 million, or 88 cents per share, a year earlier.

A poll of analysts conducted by Thomson Reuters, showed an average Wall Street estimate of expected earnings of 1 cent per share.

At $24.62, shares of MB Financial, Inc were down more than 7% just before the market closed.

With more than 1.5 million shares traded, volume was nearly five times greater than the average daily volume of 311,768.