Middlefield Banc (NASDAQ:MBCN) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Middlefield Banc (NASDAQ:MBCN) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

Separately, Hovde Group lowered their target price on Middlefield Banc from $25.00 to $23.00 and set a market perform rating for the company in a research note on Wednesday.

Middlefield Banc Trading Up 0.1 %

MBCN opened at $21.49 on Wednesday. Middlefield Banc has a 12 month low of $21.36 and a 12 month high of $37.00. The stock has a market capitalization of $173.42 million, a price-to-earnings ratio of 10.04 and a beta of 0.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97. The business has a fifty day moving average price of $23.32 and a 200 day moving average price of $26.89.

Middlefield Banc (NASDAQ:MBCN) last released its earnings results on Tuesday, April 30th. The bank reported $0.51 EPS for the quarter, topping the consensus estimate of $0.42 by $0.09. Middlefield Banc had a return on equity of 8.76% and a net margin of 17.91%. The firm had revenue of $26.41 million during the quarter, compared to analysts’ expectations of $17.10 million. Sell-side analysts expect that Middlefield Banc will post 1.68 earnings per share for the current fiscal year.

Middlefield Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.20 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.80 annualized dividend and a dividend yield of 3.72%. Middlefield Banc’s dividend payout ratio is currently 37.38%.

Insider Transactions at Middlefield Banc

In other news, Director Michael C. Voinovich purchased 1,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were acquired at an average price of $26.67 per share, for a total transaction of $26,670.00. Following the acquisition, the director now directly owns 8,253 shares in the company, valued at approximately $220,107.51. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.81% of the company’s stock.

Institutional Investors Weigh In On Middlefield Banc

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in Middlefield Banc by 48.9% during the 1st quarter. BNP Paribas Financial Markets now owns 3,668 shares of the bank’s stock valued at $88,000 after buying an additional 1,204 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Middlefield Banc during the 3rd quarter valued at $116,000. Virtu Financial LLC acquired a new stake in Middlefield Banc during the 4th quarter valued at $273,000. Cerity Partners LLC acquired a new stake in Middlefield Banc during the 4th quarter valued at $290,000. Finally, Redmont Wealth Advisors LLC grew its holdings in Middlefield Banc by 14.2% during the 1st quarter. Redmont Wealth Advisors LLC now owns 32,017 shares of the bank’s stock valued at $765,000 after buying an additional 3,989 shares during the last quarter. Institutional investors and hedge funds own 31.72% of the company’s stock.

Middlefield Banc Company Profile

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 offers 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.