Middlefield Banc (NASDAQ:MBCN) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Middlefield Banc (NASDAQ:MBCN) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Several other equities research analysts have also recently issued reports on MBCN. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Middlefield Banc in a report on Monday, December 29th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $35.00 price target (up previously from $32.00) on shares of Middlefield Banc in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.00.

Middlefield Banc Price Performance

Shares of NASDAQ:MBCN traded up $2.14 during midday trading on Tuesday, reaching $36.33. 3,166 shares of the company were exchanged, compared to its average volume of 15,777. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.05. The business’s fifty day moving average is $34.96 and its two-hundred day moving average is $32.00. Middlefield Banc has a one year low of $22.74 and a one year high of $37.67. The stock has a market cap of $293.87 million, a PE ratio of 13.96 and a beta of 0.40.

Middlefield Banc (NASDAQ:MBCN) last announced its quarterly earnings results on Wednesday, October 22nd. The bank reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. Middlefield Banc had a net margin of 18.39% and a return on equity of 9.79%. The company had revenue of $19.89 million for the quarter, compared to the consensus estimate of $19.57 million. As a group, analysts predict that Middlefield Banc will post 1.96 earnings per share for the current year.

Middlefield Banc Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, November 28th. Middlefield Banc’s dividend payout ratio (DPR) is 32.18%.

Hedge Funds Weigh In On Middlefield Banc

Several hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its stake in Middlefield Banc by 3.5% in the first quarter. Empowered Funds LLC now owns 17,863 shares of the bank’s stock worth $499,000 after purchasing an additional 598 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Middlefield Banc by 2.0% during the second quarter. Geode Capital Management LLC now owns 171,134 shares of the bank’s stock valued at $5,154,000 after buying an additional 3,308 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Middlefield Banc by 107.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 2,047 shares of the bank’s stock worth $62,000 after buying an additional 1,059 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Middlefield Banc during the 2nd quarter worth approximately $307,000. Finally, Fisher Asset Management LLC bought a new stake in shares of Middlefield Banc during the 2nd quarter worth approximately $1,056,000. 31.72% of the stock is currently owned by institutional investors.

Middlefield Banc Company Profile

Middlefield Banc is a bank holding company headquartered in Middlefield, Ohio, operating through its subsidiary, Middlefield Banking Company. The firm offers a suite of deposit products, including checking, savings, money market accounts and certificates of deposit, alongside comprehensive cash management solutions designed for both individual consumers and businesses.

On the lending side, Middlefield Banc specializes in commercial and residential real estate loans, consumer installment loans and lines of credit.