Middlefield Banc (NASDAQ:MBCN) Upgraded to Hold by StockNews.com

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

A number of other equities analysts also recently weighed in on the company. 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 research report on Wednesday, May 1st. Keefe, Bruyette & Woods reissued a market perform rating and set a $25.00 price target (down previously from $30.00) on shares of Middlefield Banc in a research report on Thursday, May 2nd.

View Our Latest Report on Middlefield Banc

Middlefield Banc Stock Up 0.2 %

NASDAQ:MBCN opened at $21.42 on Thursday. Middlefield Banc has a 1 year low of $21.36 and a 1 year high of $37.00. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.06. The stock has a market cap of $172.86 million, a price-to-earnings ratio of 10.44 and a beta of 0.65. The stock has a 50-day moving average price of $22.92 and a two-hundred day moving average price of $26.41.

Middlefield Banc (NASDAQ:MBCNGet Free Report) last released its earnings results on Tuesday, April 30th. The bank reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.09. Middlefield Banc had a return on equity of 8.25% and a net margin of 16.41%. The business had revenue of $26.41 million for the quarter, compared to analyst estimates of $17.10 million. As a group, equities analysts expect that Middlefield Banc will post 1.75 earnings per share for the current year.

Middlefield Banc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Friday, May 31st. Middlefield Banc’s payout ratio is presently 39.02%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its holdings in Middlefield Banc by 48.9% in the first quarter. BNP Paribas Financial Markets now owns 3,668 shares of the bank’s stock valued at $88,000 after purchasing an additional 1,204 shares during the period. Virtu Financial LLC acquired a new stake in Middlefield Banc in the fourth quarter valued at $273,000. Cerity Partners LLC acquired a new stake in Middlefield Banc in the fourth quarter valued at $290,000. Redmont Wealth Advisors LLC increased its holdings in Middlefield Banc by 14.2% in the first quarter. Redmont Wealth Advisors LLC now owns 32,017 shares of the bank’s stock valued at $765,000 after purchasing an additional 3,989 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Middlefield Banc by 1.0% in the first quarter. Vanguard Group Inc. now owns 386,196 shares of the bank’s stock valued at $9,222,000 after purchasing an additional 3,782 shares during the period. 31.72% of the stock is currently owned by institutional investors.

About Middlefield Banc

(Get Free Report)

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.

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