Regional Banks

Below are highlights from Benzinga's daily coverage of microcap securities making big moves: MBT Financial Corp Shares of MBT Financial Corp (NASDAQ: MBTF), the Monroe, MI parent company of Monroe Bank & Trust, rose 18.37% Friday on almost 8 times the average daily volume. MBT Financial,...

Stifel Nicolaus notes in a recent report that it cuts its rating on MB Financial (NASDAQ: MBFI) from Buy to Hold on valuation and moderate growth in earnings. PT of $22.50 is removed. Stifel Nicolaus comments, "Our downgrade from Buy to Hold is based in part on valuation and our forecast for...

According to a research report this morning, J.P. Morgan reported another strong loss for MB Financial (NASDAQ: MBFI) on loans and taxes. J.P. Morgan stated, “MB Financial reported 1Q12 EPS of $0.33 beating our and Street estimates by a penny as lower than expected PTPP income was offset by better...

Mercantile Bank Corporation (NASDAQ: MBWM) announced today that it has repurchased 50 percent of the $21 million in non-voting preferred stock issued in May 2009 to the U.S. Department of the Treasury under the Treasury's Capital Purchase Program, as part of the Troubled Asset Relief Program.

FIG Partners initiates its coverage on Lakeland Financial Corporation (NASDAQ: LKFN) with a rating of Outperform and a $30 price target to reflect internal growth in Northern Indiana. FIG Partners notes, "Our earnings estimates for 2012 and 2013 are $2.00 and $2.25 per share, respectively. This...

MetroCorp Bancshares, Inc. (Nasdaq: MCBI) announced today that Y Ping Sun was appointed as a Class II director to fill a vacancy existing on the Company's board of directors, effective March 27, 2012. In connection with the appointment, the Company's board of directors determined that Ms. Sun is...

Navidea Biopharmaceuticals, Inc. (NYSE: NAVB) today announced that data from its Phase 3 clinical study investigating 99m-Tc-Tilmanocept (Lymphoseek®) in oral and squamous cell cancers were presented as a poster presentation at the 65th Annual Cancer Symposium of the Society of Surgical Oncology...

Sterne Agee increases its target price $1 to $23 on Buy-rated MB Financial (NASDAQ: MBFI) the company redeems TARP. Sterne Agee says, "The redemption of $196 million of TARP—with “zero” equity or debt issuance—suggests to us that the credit cycle is largely behind MBFI and that profitability will...

MB Financial, Inc. (NASDAQ: MBFI) announced today that it repurchased all $196 million of preferred stock which it issued in 2008 to the U.S. Department of Treasury (“Treasury”) as part of the Troubled Asset Relief Program Capital Purchase Program. The repurchase will result in a one-time, non-cash...

Macatawa Bank Corporation (Nasdaq: MCBC) today announced that Macatawa Bank's Consent Order with its regulators has been terminated. On February 22, 2010, Macatawa Bank entered into a Consent Order with the Federal Deposit Insurance Corporation and the Michigan Office of Financial and Insurance...

Jefferies remains Hold-rated on MB Financial (NASDAQ: MBFI) and raises its price target to $19, up $1, following the company's 4Q11 report that reveals a better outlook for 2012. Jefferies says, "We are updating our estimates following recently reported 4Q11 earnings. While the near-term was a...

Schlumberger Ltd (NYSE: SLB) is projected to report its Q4 earnings at $1.09 per share on sales of $10.8 billion. General Electric Company (NYSE: GE) to report its Q4 EPS at $0.38 on sales of $40.05 billion. SunTrust Banks Inc (NYSE: STI) is projected to report its Q4 EPS at $0.26 on revenue of...

This is your Benzinga news summary for Thursday, January 19, 2012, covering headlines from Thursday's daytime trading session. Today at market close, the Dow Jones Index traded up about 45.03 points 0.36%, the S&P 500 traded 0.49% higher, the Nasdaq Composite Index traded up 0.67%, and the U.S...

Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, announced that its Board of Directors declared today, January 19, 2012, a dividend of 28 cents per share, payable February 16, 2012, to shareholders of record as of February 2, 2012. This quarter represents our 61st...

Mercantile Bank Corporation (NASDAQ: MBWM) reported net income attributable to common shares of $30.0 million, or $3.37 per diluted share, for the fourth quarter of 2011, compared with a net loss attributable to common shares of $5.3 million, or ($0.62) per diluted share, for the prior-year period...