Middlefield Banc (NASDAQ:MBCN) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Middlefield Banc (NASDAQ:MBCNGet Rating) in a research note released on Saturday. The firm issued a buy rating on the bank’s stock.

Middlefield Banc Stock Performance

Shares of NASDAQ MBCN opened at $27.28 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s fifty day moving average price is $26.41 and its two-hundred day moving average price is $25.62. Middlefield Banc has a one year low of $22.82 and a one year high of $30.62. The firm has a market cap of $158.22 million, a price-to-earnings ratio of 9.06 and a beta of 0.60.

Middlefield Banc (NASDAQ:MBCNGet Rating) last issued its quarterly earnings data on Monday, July 18th. The bank reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. Middlefield Banc had a return on equity of 12.89% and a net margin of 31.25%. The firm had revenue of $13.41 million for the quarter, compared to analyst estimates of $13.20 million.

Middlefield Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Friday, September 2nd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Thursday, September 1st. Middlefield Banc’s dividend payout ratio is 22.59%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MBCN. Dimensional Fund Advisors LP grew its holdings in shares of Middlefield Banc by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 96,410 shares of the bank’s stock worth $2,393,000 after purchasing an additional 463 shares in the last quarter. Fourthstone LLC grew its holdings in shares of Middlefield Banc by 55.4% during the 1st quarter. Fourthstone LLC now owns 50,375 shares of the bank’s stock worth $1,250,000 after purchasing an additional 17,950 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Middlefield Banc by 8.4% during the 1st quarter. BlackRock Inc. now owns 25,646 shares of the bank’s stock worth $636,000 after purchasing an additional 1,996 shares in the last quarter. State Street Corp grew its holdings in shares of Middlefield Banc by 8.1% during the 1st quarter. State Street Corp now owns 17,700 shares of the bank’s stock worth $439,000 after purchasing an additional 1,323 shares in the last quarter. Finally, LSV Asset Management acquired a new stake in shares of Middlefield Banc during the 1st quarter worth $104,000. 28.43% of the stock is owned by institutional investors and hedge funds.

Middlefield Banc Company Profile

(Get Rating)

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 provides 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.

Further Reading

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