MBT Financial Corp. (NASDAQ:MBTF) Director Michael James Miller purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The stock was bought at an average cost of $10.20 per share, for a total transaction of $51,000.00. Following the purchase, the director now directly owns 227,314 shares in the company, valued at approximately $2,318,602.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Michael James Miller also recently made the following trade(s):
- On Monday, February 12th, Michael James Miller purchased 1,064 shares of MBT Financial stock. The stock was bought at an average cost of $9.65 per share, for a total transaction of $10,267.60.
MBT Financial Corp. (NASDAQ:MBTF) remained flat at $$10.25 during trading hours on Monday. 41,418 shares of the stock were exchanged, compared to its average volume of 51,400. MBT Financial Corp. has a fifty-two week low of $9.25 and a fifty-two week high of $12.10. The company has a market cap of $235.43, a PE ratio of 22.17 and a beta of -0.26.
MBT Financial declared that its board has authorized a stock buyback plan on Thursday, January 25th that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 8th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $0.24 annualized dividend and a yield of 2.34%. MBT Financial’s dividend payout ratio (DPR) is presently 52.18%.
A number of large investors have recently added to or reduced their stakes in MBTF. Northern Trust Corp grew its stake in MBT Financial by 4.6% during the 2nd quarter. Northern Trust Corp now owns 212,054 shares of the financial services provider’s stock valued at $2,057,000 after acquiring an additional 9,304 shares in the last quarter. California Public Employees Retirement System grew its stake in MBT Financial by 9.5% during the 2nd quarter. California Public Employees Retirement System now owns 85,351 shares of the financial services provider’s stock valued at $828,000 after acquiring an additional 7,400 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in MBT Financial by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,104,820 shares of the financial services provider’s stock valued at $10,717,000 after acquiring an additional 21,450 shares in the last quarter. State Street Corp grew its stake in MBT Financial by 12.3% during the 2nd quarter. State Street Corp now owns 259,256 shares of the financial services provider’s stock valued at $2,517,000 after acquiring an additional 28,398 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in MBT Financial by 30.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,759 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 4,347 shares in the last quarter. 49.40% of the stock is currently owned by institutional investors.
Separately, BidaskClub raised MBT Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st.
ILLEGAL ACTIVITY WARNING: This report was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another site, it was stolen and republished in violation of US & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.americanbankingnews.com/2018/03/12/mbt-financial-corp-mbtf-director-michael-james-miller-buys-5000-shares.html.
MBT Financial Company Profile
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.
Receive News & Ratings for MBT Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MBT Financial and related companies with MarketBeat.com's FREE daily email newsletter.