MBT Financial initiated with a Market Perform at Keefe Bruyette. Keefe Bruyette analyst Damon DelMonte started MBT Financial with a Market Perform rating and $12 price target. The analyst says current trading multiples put him on the sidelines at this time.
The company announced that it will pay a quarterly dividend of 7c per common share on May 17 to shareholders of record as of May 10. This is an increase of 1c per share compared to the dividend paid last quarter.
MBT Financial authorized the repurchase of up to 2 million shares of its common stock. This represents 8.7% of the shares currently outstanding. The authorization commences February 1, 2018 and expires January 31, 2020. The authorization replaces a two year authorization to repurchase up to 2 million shares that is set to expire on January 31, 2018. During that authorization, 192,080 shares were repurchased.
MBTF Financial will pay a quarterly dividend of 6c per common share and a special dividend of 60c per common share. The dividends will be paid as a single distribution on February 15 to shareholders of record as of February 8. This is compared to the quarterly dividend of 5c and special dividend of 70c paid in the same quarter last year.
MBT Financial announced that it will pay a quarterly dividend of 6c on August 17 to shareholders of record as of August 10. This is an increase of 2c, or 50% compared to the dividend paid in the same quarter last year.