Martingale Asset Management L P cut its stake in MBT Financial Corp. (NASDAQ:MBTF) by 18.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,616 shares of the financial services provider’s stock after selling 13,414 shares during the period. Martingale Asset Management L P owned approximately 0.25% of MBT Financial worth $546,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Algert Global LLC acquired a new position in MBT Financial in the 4th quarter worth about $160,000. Lincoln National Corp acquired a new position in MBT Financial in the 4th quarter worth about $123,000. Panagora Asset Management Inc. increased its holdings in MBT Financial by 34.4% in the 3rd quarter. Panagora Asset Management Inc. now owns 251,823 shares of the financial services provider’s stock worth $2,846,000 after purchasing an additional 64,397 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in MBT Financial in the 4th quarter worth about $890,000. Finally, Meeder Asset Management Inc. increased its holdings in MBT Financial by 1,190.0% in the 4th quarter. Meeder Asset Management Inc. now owns 11,017 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 10,163 shares in the last quarter. 51.46% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on the company. Sandler O’Neill upgraded MBT Financial from a “hold” rating to a “buy” rating in a research report on Monday, November 19th. ValuEngine upgraded MBT Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, BidaskClub lowered MBT Financial from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $12.00.
MBT Financial (NASDAQ:MBTF) last released its quarterly earnings results on Monday, January 28th. The financial services provider reported $0.21 EPS for the quarter. MBT Financial had a return on equity of 15.54% and a net margin of 28.62%. The firm had revenue of $14.77 million for the quarter.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 14th. Shareholders of record on Thursday, February 7th were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, February 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.72%.
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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