Middlefield Banc (NASDAQ:MBCN) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Middlefield Banc (NASDAQ:MBCN – Get Rating) in a research report released on Thursday morning. The firm issued a hold rating on the bank’s stock.

Separately, Janney Montgomery Scott started coverage on Middlefield Banc in a research note on Wednesday, December 21st. They issued a neutral rating for the company.

Middlefield Banc Price Performance

MBCN stock traded down $0.75 during trading on Thursday, hitting $26.05. The stock had a trading volume of 117,096 shares, compared to its average volume of 14,422. The stock has a market cap of $151.09 million, a price-to-earnings ratio of 9.98 and a beta of 0.53. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.96. The company’s 50 day moving average price is $27.85 and its two-hundred day moving average price is $28.06. Middlefield Banc has a 1-year low of $23.99 and a 1-year high of $30.62.

Middlefield Banc (NASDAQ:MBCN – Get Rating) last announced its quarterly earnings data on Friday, January 27th. The bank reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.05. The business had revenue of $16.50 million for the quarter, compared to the consensus estimate of $16.00 million. Middlefield Banc had a net margin of 25.42% and a return on equity of 11.85%. On average, sell-side analysts forecast that Middlefield Banc will post 2.6 EPS for the current fiscal year.

Middlefield Banc Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Friday, March 3rd were given a dividend of $0.20 per share. The ex-dividend date was Thursday, March 2nd. This is an increase from Middlefield Banc’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a yield of 3.07%. Middlefield Banc’s dividend payout ratio is 30.65%.

Hedge Funds Weigh In On Middlefield Banc

Large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. purchased a new position in Middlefield Banc during the fourth quarter worth about $54,000. Triasima Portfolio Management inc. raised its holdings in shares of Middlefield Banc by 221.8% in the 3rd quarter. Triasima Portfolio Management inc. now owns 2,227 shares of the bank’s stock worth $61,000 after purchasing an additional 1,535 shares during the period. Bank of America Corp DE purchased a new position in shares of Middlefield Banc in the 4th quarter worth about $74,000. Private Trust Co. NA purchased a new position in shares of Middlefield Banc in the 2nd quarter worth about $96,000. Finally, LSV Asset Management purchased a new position in shares of Middlefield Banc in the 1st quarter worth about $104,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Middlefield Banc Company Profile

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Middlefield Banc Corp. is a holding company, which engages in the provision of personal and commercial banking solutions. It offers checking, savings, negotiable order of withdrawal accounts, money market accounts, time certificates of deposit, commercial loans, real estate loans, a variety of consumer loans, safe deposit facilities, and travelers’ checks services.