NasdaqGS:MBTF

Stock Analysis Report

Executive Summary

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.

Snowflake

Fundamentals

Excellent balance sheet with reasonable growth potential.


Similar Companies

Share Price & News

How has MBT Financial's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

2.6%

MBTF

4.8%

US Banks

2.3%

US Market


1 Year Return

-10.1%

MBTF

0.04%

US Banks

5.6%

US Market

Return vs Industry: MBTF underperformed the US Banks industry which returned 0% over the past year.

Return vs Market: MBTF underperformed the US Market which returned 5.6% over the past year.


Shareholder returns

MBTFIndustryMarket
7 Day2.6%4.8%2.3%
30 Day-5.0%-0.5%-1.0%
90 Day5.9%2.0%-0.7%
1 Year-6.5%-10.1%2.9%0.04%7.9%5.6%
3 Year38.5%12.8%51.5%41.1%45.6%36.3%
5 Year161.8%97.4%70.9%52.3%65.8%47.6%

Price Volatility Vs. Market

How volatile is MBT Financial's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is MBT Financial undervalued compared to its fair value and its price relative to the market?

2.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: MBTF ($9.84) is trading below our estimate of fair value ($10.12)

Significantly Undervalued: MBTF is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: MBTF is poor value based on its PE Ratio (22.5x) compared to the Banks industry average (12.6x).

PE vs Market: MBTF is poor value based on its PE Ratio (22.5x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: MBTF is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: MBTF is overvalued based on its PB Ratio (1.7x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is MBT Financial forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

43.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MBTF's forecast earnings growth (43.2% per year) is above the savings rate (2.7%).

Earnings vs Market: MBTF's earnings (43.2% per year) are forecast to grow faster than the US market (14.5% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MBTF's revenue (13.1% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: MBTF's revenue (13.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if MBTF's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has MBT Financial performed over the past 5 years?

0.06%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: MBTF's earnings have grown by 0.06% per year over the past 5 years.

Accelerating Growth: MBTF's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MBTF had negative earnings growth (-20.5%) over the past year, making it difficult to compare to the Banks industry average (31.8%).


Return on Equity

High ROE: MBTF's Return on Equity (7.4%) is considered low.


Return on Assets

ROA vs Industry: MBTF's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate MBTF's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is MBT Financial's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: MBTF has a low level of unsold assets or inventory.

Debt Coverage by Assets: MBTF's debt is covered by short term assets (assets are 34.209800x debt).


Financial Institutions Analysis

Asset Level: MBTF's level of assets compared to its equity is low.

Allowance for Bad Loans: MBTF has a low allowance for bad loans.

Low Risk Liabilities: MBTF's liabilities are made up of primarily low risk sources of funding.

Loan Level: MBTF has an acceptable proportion of non-loan assets held.

Low Risk Deposits: MBTF's loans are broadly funded by customer deposits.

Level of Bad Loans: MBTF has an appropriate level of bad loans (1.47%)


Next Steps

Dividend

What is MBT Financial's current dividend yield, its reliability and sustainability?

4.47%

Current Dividend Yield


Dividend Yield vs Market

company4.5%marketbottom25%1.5%markettop25%3.8%industryaverage3.0%forecastin3Years4.1%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: MBTF's dividend (4.47%) is higher than the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: MBTF's dividend (4.47%) is in the top 25% of dividend payers in the US market (3.76%)

Stable Dividend: MBTF's dividend payments have been volatile in the past 10 years.

Growing Dividend: MBTF's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (91.6%), MBTF's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of MBT Financial's salary, the management and board of directors tenure and is there insider trading?

12.7yrs

Average management tenure


CEO

Doug Chaffin (63yo)

15.7yrs

Tenure

US$1,030,914

Compensation

Mr. H. Douglas Chaffin, also known as Doug, has been the Chief Executive Officer of MBT Financial Corp. ("MBT") since April 5, 2004 and has been its President since 2003. Mr. Chaffin serves as the Chief Ex ...


CEO Compensation Analysis

Compensation vs. Market: Doug's total compensation ($USD1.03M) is about average for companies of similar size in the US market ($USD1.18M).

Compensation vs Earnings: Doug's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Management Age and Tenure

12.7yrs

Average Tenure

60.5yo

Average Age

Experienced Management: MBTF's management team is seasoned and experienced (12.7 years average tenure).


Board Age and Tenure

10.5yrs

Average Tenure

61yo

Average Age

Experienced Board: MBTF's board of directors are seasoned and experienced ( 10.5 years average tenure).


Insider Trading

Insider Buying: MBTF insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$8,80116 Aug 19
Joseph Daly
EntityIndividual
Role
Member of the Board of Directors
Director
Shares899
Max PriceUS$9.79
BuyUS$7,91624 May 19
Joseph Daly
EntityIndividual
Role
Member of the Board of Directors
Director
Shares802
Max PriceUS$9.87
BuyUS$7,85019 Feb 19
Joseph Daly
EntityIndividual
Role
Member of the Board of Directors
Director
Shares733
Max PriceUS$10.71
BuyUS$7,79326 Nov 18
Joseph Daly
EntityIndividual
Role
Member of the Board of Directors
Director
Shares701
Max PriceUS$11.12

Ownership Breakdown


Management Team

  • Doug Chaffin (63yo)

    President

    • Tenure: 15.7yrs
    • Compensation: US$1.03m
  • John Skibski (54yo)

    Executive VP

    • Tenure: 11.3yrs
    • Compensation: US$359.24k
  • Tom Myers (62yo)

    Executive VP

    • Tenure: 0yrs
    • Compensation: US$353.36k
  • David Rever

    MD of Investments

    • Tenure: 0yrs
  • Scott McKelvey (59yo)

    Executive VP & Secretary

    • Tenure: 12.7yrs
    • Compensation: US$341.40k
  • Gretchen Eyler

    Senior Vice President

    • Tenure: 0yrs
  • Diane Kamprath

    Managing Director of Operations & Compliance and Vice President

    • Tenure: 0yrs
  • Rich Spencer

    Chief Innovation & Information Officer and Senior VP

    • Tenure: 2.5yrs
  • Spencer Blunt

    Second VP & Commercial Credit Manager

    • Tenure: 2.3yrs
  • Tamara Jagodzinski

    Accounting Officer

    • Tenure: 0yrs

Board Members

  • Doug Chaffin (63yo)

    President

    • Tenure: 15.7yrs
    • Compensation: US$1.03m
  • Joseph Daly (59yo)

    Director

    • Tenure: 16.7yrs
    • Compensation: US$56.59k
  • Michael Miller (70yo)

    Chairman of the Board

    • Tenure: 9.7yrs
    • Compensation: US$67.68k
  • John Skibski (54yo)

    Executive VP

    • Tenure: 11.3yrs
    • Compensation: US$359.24k
  • Peter Carlton (70yo)

    Director

    • Tenure: 14.8yrs
    • Compensation: US$64.04k
  • Debra Shah (72yo)

    Director

    • Tenure: 13.3yrs
    • Compensation: US$50.38k
  • Joseph Vig (49yo)

    Director

    • Tenure: 2.7yrs
    • Compensation: US$46.63k
  • Tony Scavuzzo (37yo)

    Director

    • Tenure: 4.3yrs
    • Compensation: US$48.06k
  • Jim Deutsch (64yo)

    Director

    • Tenure: 4.3yrs
    • Compensation: US$50.56k
  • Kristine Barann (53yo)

    Director

    • Tenure: 2.7yrs
    • Compensation: US$46.63k

Company Information

MBT Financial Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: MBT Financial Corp.
  • Ticker: MBTF
  • Exchange: NasdaqGS
  • Founded: 1858
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$226.692m
  • Shares outstanding: 23.04m
  • Website: https://www.mbandt.com

Number of Employees


Location

  • MBT Financial Corp.
  • 102 East Front Street
  • Monroe
  • Michigan
  • 48161
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MBTFNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDFeb 1993

Biography

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  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/01 23:45
End of Day Share Price2019/08/30 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.