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 report released on Wednesday morning.

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

Middlefield Banc Trading Up 2.6 %

Shares of MBCN opened at $23.19 on Wednesday. Middlefield Banc has a 52-week low of $21.36 and a 52-week high of $37.00. The business’s fifty day moving average is $23.27 and its 200-day moving average is $26.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $187.12 million, a price-to-earnings ratio of 11.31 and a beta of 0.65.

Middlefield Banc (NASDAQ:MBCN) last issued its quarterly earnings results on Tuesday, April 30th. The bank reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.09. Middlefield Banc had a return on equity of 8.33% and a net margin of 16.41%. The company had revenue of $26.41 million for the quarter, compared to analyst estimates of $17.10 million. Equities analysts anticipate that Middlefield Banc will post 1.68 EPS for the current fiscal year.

Middlefield Banc Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.80 annualized dividend and a yield of 3.45%. Middlefield Banc’s payout ratio is 39.02%.

Institutional Investors Weigh In On Middlefield Banc

Several institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its holdings in shares of Middlefield Banc by 48.9% during the 1st quarter. BNP Paribas Financial Markets now owns 3,668 shares of the bank’s stock worth $88,000 after buying an additional 1,204 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Middlefield Banc during the 3rd quarter worth approximately $116,000. Virtu Financial LLC acquired a new stake in shares of Middlefield Banc during the 4th quarter worth approximately $273,000. Cerity Partners LLC acquired a new stake in shares of Middlefield Banc during the 4th quarter worth approximately $290,000. Finally, Redmont Wealth Advisors LLC grew its position in shares of Middlefield Banc by 14.2% during the 1st quarter. Redmont Wealth Advisors LLC now owns 32,017 shares of the bank’s stock worth $765,000 after buying an additional 3,989 shares during the period. 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.