Middlefield Banc (NASDAQ:MBCN) Earns Market Perform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of Middlefield Banc (NASDAQ:MBCN) in a report released on Thursday, Benzinga reports. The firm currently has a $25.00 price target on the bank’s stock, down from their previous price target of $30.00.

A number of other research analysts have also commented on the stock. StockNews.com upgraded shares of Middlefield Banc from a sell rating to a hold rating in a research note on Wednesday, May 1st. Hovde Group lowered their price target on Middlefield Banc from $25.00 to $23.00 and set a market perform rating on the stock in a report on Wednesday, May 1st.

Middlefield Banc Stock Up 2.6 %

Shares of NASDAQ MBCN opened at $23.19 on Thursday. The stock has a market cap of $187.14 million, a PE ratio of 11.31 and a beta of 0.65. Middlefield Banc has a 52-week low of $21.36 and a 52-week high of $37.00. The business has a 50-day moving average price of $23.27 and a 200 day moving average price of $26.82. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.06.

Middlefield Banc (NASDAQ:MBCN) last posted its quarterly earnings data on Tuesday, April 30th. The bank reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.09. The business had revenue of $26.41 million during the quarter, compared to the consensus estimate of $17.10 million. Middlefield Banc had a return on equity of 8.33% and a net margin of 16.41%. Equities research analysts forecast that Middlefield Banc will post 1.75 earnings per share for the current year.

Middlefield Banc Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.20 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.80 dividend on an annualized basis and a yield of 3.45%. Middlefield Banc’s dividend payout ratio (DPR) is presently 39.02%.

Institutional Investors Weigh In On Middlefield Banc

Institutional investors have recently modified their holdings of the company. Redmont Wealth Advisors LLC raised its holdings in Middlefield Banc by 6.5% during the third quarter. Redmont Wealth Advisors LLC now owns 32,126 shares of the bank’s stock worth $816,000 after purchasing an additional 1,961 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Middlefield Banc in the 3rd quarter worth about $116,000. Cerity Partners LLC acquired a new stake in Middlefield Banc in the 4th quarter valued at about $290,000. BNP Paribas Financial Markets increased 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 acquiring an additional 1,204 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Middlefield Banc during the fourth quarter worth about $273,000. Hedge funds and other institutional investors own 31.72% of the company’s stock.

About Middlefield Banc

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.