MBT Financial Corp. (NASDAQ:MBTF) Director Michael James Miller acquired 5,000 shares of MBT Financial stock in a transaction dated Thursday, March 8th. The shares were acquired at an average price of $10.20 per share, with a total value of $51,000.00. Following the completion of the transaction, the director now owns 227,314 shares of the company’s stock, valued at approximately $2,318,602.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Michael James Miller also recently made the following trade(s):
- On Monday, February 12th, Michael James Miller acquired 1,064 shares of MBT Financial stock. The shares were acquired at an average price of $9.65 per share, with a total value of $10,267.60.
MBT Financial Corp. (NASDAQ MBTF) opened at $10.25 on Tuesday. The stock has a market capitalization of $235.43, a P/E ratio of 14.64 and a beta of -0.26. MBT Financial Corp. has a 52-week low of $9.25 and a 52-week high of $12.10.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 8th were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, February 7th. This represents a $0.24 annualized dividend and a dividend yield of 2.34%. MBT Financial’s dividend payout ratio is presently 52.18%.
MBT Financial declared that its Board of Directors has initiated a stock buyback program on Thursday, January 25th that allows the company to buyback 2,000,000 shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Separately, BidaskClub upgraded MBT Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of MBT Financial by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,119,177 shares of the financial services provider’s stock worth $12,255,000 after buying an additional 14,357 shares during the period. BlackRock Inc. lifted its position in MBT Financial by 6.2% in the fourth quarter. BlackRock Inc. now owns 911,517 shares of the financial services provider’s stock worth $9,662,000 after purchasing an additional 53,158 shares during the period. Renaissance Technologies LLC lifted its position in MBT Financial by 8.6% in the fourth quarter. Renaissance Technologies LLC now owns 485,647 shares of the financial services provider’s stock worth $5,148,000 after purchasing an additional 38,280 shares during the period. State Street Corp lifted its position in MBT Financial by 12.3% in the second quarter. State Street Corp now owns 259,256 shares of the financial services provider’s stock worth $2,517,000 after purchasing an additional 28,398 shares during the period. Finally, Northern Trust Corp lifted its position in MBT Financial by 4.6% in the second quarter. Northern Trust Corp now owns 212,054 shares of the financial services provider’s stock worth $2,057,000 after purchasing an additional 9,304 shares during the period. Institutional investors and hedge funds own 49.40% of the company’s stock.
About MBT Financial
MBT Financial Corp. is a bank holding company for Monroe Bank & Trust (the Bank). Monroe Bank & Trust provides customary retail and commercial banking and trust services to its customers, including checking and savings accounts, time deposits, safe deposit facilities, commercial loans, personal loans, real estate mortgage loans, installment loans, individual retirement accounts (IRAs), automated teller machine (ATM) and night depository facilities, treasury management services, telephone and Internet banking, personal trust, employee benefit and investment management services.
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