CHICAGO - Marquette National Corporation (OTCQX: MNAT), a diversified bank holding company, has declared a quarterly cash dividend of $0.28 per share, payable on July 1, 2024, to shareholders of record as of June 14, 2024. This announcement comes as Marquette continues to serve the Chicagoland community through its subsidiary, Marquette Bank.
With 20 branches in various locations including Chicago and its suburbs, Marquette Bank provides a range of financial services. These services encompass retail banking, real estate lending, trust services, insurance, investments, wealth management, and business banking solutions.
As of the end of the first quarter, on March 31, 2024, Marquette reported that it had 4,381,112 shares issued and outstanding. The company's total assets approximate $2.16 billion, reflecting its position in the financial sector.
The forward-looking statements included in the company's announcement indicate a range of factors that could influence Marquette's future performance. These factors include economic conditions, changes in laws and regulations, interest rates, competition, technological changes, and other risks detailed in the press release.
Investors are advised that the information is based on a press release statement from Marquette National Corporation and should consider the various risks and uncertainties that may affect the company's financial results and business operations.
InvestingPro Insights
As investors consider the latest dividend announcement from Marquette National Corporation, there are several key metrics provided by InvestingPro that can offer deeper insights into the company's financial health and stock performance. Marquette National Corporation, with an adjusted market capitalization of $113.91M, shows a commitment to returning value to shareholders, maintaining a dividend yield of 4.31% as of the last recorded ex-dividend date on March 14, 2024.
An InvestingPro Tip suggests that Marquette has been consistent with its dividend payments, having done so for 11 consecutive years, which might appeal to investors looking for stable income. Still, it is also important to note that the stock's recent performance has seen some volatility, with a 1-week total price return of -1.89% and a 1-month price return of -3.7%.
Despite this short-term turbulence, the longer-term view is more stable, with a 6-month total price return of 0.82% and a 1-year price return of 0.27%.
While the dividend yield is attractive, potential investors should be aware of some concerns highlighted by InvestingPro Tips. The company suffers from weak gross profit margins and a valuation that implies a poor free cash flow yield. Additionally, the Relative Strength Index (RSI) suggests that the stock is currently in overbought territory.
For those interested in a more comprehensive analysis, there are additional InvestingPro Tips available that can further guide investment decisions. By visiting the InvestingPro platform, investors can access these insights and consider them alongside the current metrics. To enrich your investment strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. Note that there are more than three additional InvestingPro Tips available for Marquette National Corporation, which can provide further depth to your research.
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