MBT Financial (MBTF) Downgraded by Hovde Group to Market Perform

Hovde Group cut shares of MBT Financial (NASDAQ:MBTF) from an outperform rating to a market perform rating in a research note issued to investors on Friday, The Fly reports.

Several other research firms also recently weighed in on MBTF. Keefe, Bruyette & Woods upgraded MBT Financial from a market perform rating to an outperform rating in a research report on Wednesday. BidaskClub upgraded MBT Financial from a hold rating to a buy rating in a research report on Wednesday, July 25th. Finally, Sandler O’Neill reiterated a hold rating and set a $12.00 target price on shares of MBT Financial in a research report on Friday, July 27th.

NASDAQ MBTF traded down $0.32 on Friday, hitting $11.71. 139,368 shares of the company traded hands, compared to its average volume of 45,791. The company has a market capitalization of $259.72 million, a PE ratio of 14.49 and a beta of -0.40. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.67 and a current ratio of 0.67. MBT Financial has a 52-week low of $9.43 and a 52-week high of $12.49.

MBT Financial (NASDAQ:MBTF) last released its earnings results on Thursday, July 26th. The financial services provider reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The company had revenue of $15.24 million for the quarter. MBT Financial had a return on equity of 14.37% and a net margin of 21.20%.

Several institutional investors have recently made changes to their positions in MBTF. Martingale Asset Management L P purchased a new position in shares of MBT Financial in the second quarter valued at about $647,000. Dimensional Fund Advisors LP lifted its position in shares of MBT Financial by 3.9% in 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 acquiring an additional 47,567 shares in the last quarter. BlackRock Inc. lifted its position in shares of MBT Financial by 3.1% in the second quarter. BlackRock Inc. now owns 955,615 shares of the financial services provider’s stock valued at $10,178,000 after acquiring an additional 28,438 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of MBT Financial by 45.7% in the second 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 in the last quarter. Finally, Bessemer Group Inc. purchased a new position in shares of MBT Financial in the second quarter valued at about $243,000. Institutional investors and hedge funds own 49.28% of the company’s stock.

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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