Norris Perne & French LLP MI decreased its holdings in shares of MBT Financial Corp. (NASDAQ:MBTF) by 5.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,563 shares of the financial services provider’s stock after selling 5,000 shares during the quarter. Norris Perne & French LLP MI owned about 0.35% of MBT Financial worth $910,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. purchased a new stake in MBT Financial during the second quarter valued at $243,000. Acadian Asset Management LLC raised its stake in MBT Financial by 45.7% during the second quarter. Acadian Asset Management LLC now owns 90,298 shares of the financial services provider’s stock valued at $962,000 after purchasing an additional 28,325 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in MBT Financial by 3.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,270,490 shares of the financial services provider’s stock valued at $13,531,000 after purchasing an additional 47,567 shares in the last quarter. Spark Investment Management LLC purchased a new stake in MBT Financial during the second quarter valued at $209,000. Finally, Capital Insight Partners LLC bought a new position in MBT Financial during the second quarter valued at $128,000. 49.27% of the stock is currently owned by institutional investors.
Shares of MBT Financial stock traded up $0.17 during midday trading on Monday, hitting $11.56. The company had a trading volume of 66,817 shares, compared to its average volume of 47,890. The firm has a market capitalization of $261.79 million, a P/E ratio of 13.89 and a beta of -0.40. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.25. MBT Financial Corp. has a 12-month low of $9.43 and a 12-month high of $12.49.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 8th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $0.40 annualized dividend and a yield of 3.46%.
MBTF has been the topic of a number of research analyst reports. BidaskClub upgraded shares of MBT Financial from a “hold” rating to a “buy” rating in a report on Tuesday, September 25th. Hovde Group assumed coverage on shares of MBT Financial in a report on Monday, September 10th. They issued an “outperform” rating and a $12.00 price target on the stock. Sandler O’Neill reiterated a “hold” rating and set a $12.00 target price on shares of MBT Financial in a report on Friday, July 27th. Finally, Keefe, Bruyette & Woods upgraded shares of MBT Financial from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 10th.
MBT Financial Profile
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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