Analysts Expect Middlefield Banc Corp (MBCN) to Post $0.96 Earnings Per Share

Middlefield Banc Corp (NASDAQ:MBCN) has been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Brokers have set a twelve-month consensus price objective of $58.00 for the company and are forecasting that the company will post $0.96 earnings per share for the current quarter, according to Zacks. Zacks has also given Middlefield Banc an industry rank of 117 out of 265 based on the ratings given to related companies.

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Several brokerages have commented on MBCN. Zacks Investment Research raised Middlefield Banc from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Wednesday, January 3rd. ValuEngine raised Middlefield Banc from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $51.00 price objective on shares of Middlefield Banc in a research report on Friday, December 22nd. Finally, Boenning Scattergood reissued a “buy” rating on shares of Middlefield Banc in a research report on Wednesday, January 31st.

In other Middlefield Banc news, Director Kenneth E. Jones sold 2,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $48.08, for a total transaction of $96,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William A. Et Al Valerian sold 1,858 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $50.42, for a total value of $93,680.36. The disclosure for this sale can be found here. Insiders have sold 15,850 shares of company stock valued at $780,128 in the last three months. Insiders own 8.41% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in Middlefield Banc by 1.1% during the fourth quarter. BlackRock Inc. now owns 114,747 shares of the bank’s stock valued at $5,531,000 after buying an additional 1,243 shares during the period. Deutsche Bank AG increased its holdings in shares of Middlefield Banc by 30.4% during the fourth quarter. Deutsche Bank AG now owns 6,337 shares of the bank’s stock valued at $304,000 after acquiring an additional 1,478 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Middlefield Banc by 19.7% during the third quarter. Bank of New York Mellon Corp now owns 9,317 shares of the bank’s stock valued at $430,000 after acquiring an additional 1,536 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Middlefield Banc during the second quarter valued at $145,000. Finally, Carnegie Capital Asset Management LLC increased its holdings in shares of Middlefield Banc by 4.4% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 87,931 shares of the bank’s stock valued at $4,373,000 after acquiring an additional 3,700 shares in the last quarter. 24.91% of the stock is owned by institutional investors and hedge funds.

Shares of MBCN stock opened at $49.10 on Friday. Middlefield Banc has a 52 week low of $42.10 and a 52 week high of $54.60. The firm has a market capitalization of $177.05, a P/E ratio of 14.97 and a beta of 0.21. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.24.

Middlefield Banc (NASDAQ:MBCN) last announced its quarterly earnings results on Wednesday, January 24th. The bank reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.62. Middlefield Banc had a return on equity of 8.08% and a net margin of 19.35%. The company had revenue of $10.72 million during the quarter, compared to analyst estimates of $10.71 million. sell-side analysts anticipate that Middlefield Banc will post 4.04 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.12 annualized dividend and a yield of 2.28%. This is a positive change from Middlefield Banc’s previous quarterly dividend of $0.27. Middlefield Banc’s dividend payout ratio (DPR) is currently 32.93%.

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About Middlefield Banc

Middlefield Banc Corp. is a bank holding company. The Company’s subsidiaries include The Middlefield Banking Company (MBC) and EMORECO Inc MBC is engaged in the general commercial banking business in northeastern and central Ohio. MBC offers customers a range of banking services, including checking, savings, 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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