BlackRock Inc. increased its position in shares of MBT Financial Corp. (NASDAQ:MBTF) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 955,615 shares of the financial services provider’s stock after acquiring an additional 28,438 shares during the quarter. BlackRock Inc. owned approximately 4.16% of MBT Financial worth $10,178,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Spark Investment Management LLC acquired a new position in shares of MBT Financial during the 2nd quarter valued at about $209,000. Bessemer Group Inc. acquired a new position in shares of MBT Financial during the 2nd quarter valued at about $243,000. Schwab Charles Investment Management Inc. boosted its position in shares of MBT Financial by 17.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 42,576 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 6,276 shares during the last quarter. Martingale Asset Management L P acquired a new position in shares of MBT Financial during the 2nd quarter valued at about $647,000. Finally, Acadian Asset Management LLC boosted its position in shares of MBT Financial by 45.7% during the 2nd quarter. Acadian Asset Management LLC now owns 90,298 shares of the financial services provider’s stock valued at $962,000 after acquiring an additional 28,325 shares during the last quarter. 49.27% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ MBTF opened at $11.39 on Friday. MBT Financial Corp. has a 12 month low of $9.43 and a 12 month high of $12.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $261.79 million, a price-to-earnings ratio of 13.89 and a beta of -0.32.
MBT Financial (NASDAQ:MBTF) last posted its earnings results on Thursday, October 25th. The financial services provider reported $0.21 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.21. MBT Financial had a net margin of 22.48% and a return on equity of 15.58%. The company had revenue of $15.26 million for the quarter.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 8th will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $0.40 dividend on an annualized basis and a yield of 3.51%.
Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of MBT Financial from a “market perform” rating to an “outperform” rating in a research report on Wednesday, October 10th. Hovde Group cut shares of MBT Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, October 12th. BidaskClub raised shares of MBT Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, July 25th. Finally, Sandler O’Neill reissued a “hold” rating and set a $12.00 price target on shares of MBT Financial in a research report on Friday, July 27th.
About MBT Financial
MBT Financial Corp. operates as the bank holding company for the Monroe Bank & Trust that provides retail and commercial banking, and trust services to small and middle-market businesses and middle-income individuals. It offers checking and savings accounts, time deposits, and IRAs; and commercial loans, personal loans, real estate mortgage loans, and installment loans.
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