Middlefield Banc (NASDAQ:MBCN) Now Covered by Analysts at StockNews.com

Posted by on Jun 22nd, 2022

Analysts at StockNews.com assumed coverage on shares of Middlefield Banc (NASDAQ:MBCN – Get Rating) in a research note issued on Wednesday. The brokerage set a “buy” rating on the bank’s stock.

NASDAQ MBCN opened at $25.60 on Wednesday. The stock has a fifty day moving average of $25.37 and a 200-day moving average of $25.25. The stock has a market capitalization of $149.91 million, a P/E ratio of 8.51 and a beta of 0.68. Middlefield Banc has a 52 week low of $22.70 and a 52 week high of $30.62. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.93 and a current ratio of 0.93.

Middlefield Banc (NASDAQ:MBCN – Get Rating) last released its earnings results on Thursday, April 21st. The bank reported $0.65 EPS for the quarter, beating the consensus estimate of $0.60 by $0.05. The company had revenue of $12.87 million during the quarter, compared to analysts’ expectations of $12.90 million. Middlefield Banc had a return on equity of 12.55% and a net margin of 31.63%. Equities research analysts forecast that Middlefield Banc will post 2.42 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Middlefield Banc by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 96,410 shares of the bank’s stock valued at $2,393,000 after buying an additional 463 shares during the period. Renaissance Technologies LLC grew its stake in shares of Middlefield Banc by 16.7% during the fourth quarter. Renaissance Technologies LLC now owns 94,212 shares of the bank’s stock worth $2,336,000 after purchasing an additional 13,487 shares during the period. Millennium Management LLC grew its stake in shares of Middlefield Banc by 5.5% during the fourth quarter. Millennium Management LLC now owns 56,862 shares of the bank’s stock worth $1,411,000 after purchasing an additional 2,972 shares during the period. Strategic Value Bank Partners LLC acquired a new stake in shares of Middlefield Banc during the fourth quarter worth $1,308,000. Finally, Fourthstone LLC grew its stake in shares of Middlefield Banc by 55.4% during the first quarter. Fourthstone LLC now owns 50,375 shares of the bank’s stock worth $1,250,000 after purchasing an additional 17,950 shares during the period. 28.84% of the stock is owned by institutional investors.

About Middlefield Banc (Get Rating)

Middlefield Banc Corp. operates as the bank holding company for The Middlefield Banking Company that provides various commercial banking services to small and medium-sized businesses, professionals, small business owners, and retail customers in northeastern and central Ohio. It provides checking, savings, negotiable order of withdrawal accounts, money market accounts, time certificates of deposit, commercial loans, real estate loans, various consumer loans, safe deposit facilities, and travelers' checks.

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