Middlefield Banc (NASDAQ:MBCN) Given Market Perform Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of Middlefield Banc (NASDAQ:MBCN) in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a $25.00 target price on the bank’s stock, down from their prior target price of $30.00.

Other equities research analysts have also issued reports about the stock. Hovde Group decreased their price target on shares of Middlefield Banc from $25.00 to $23.00 and set a market perform rating on the stock in a report on Wednesday, May 1st. StockNews.com upgraded shares of Middlefield Banc from a sell rating to a hold rating in a report on Wednesday, May 1st.

Middlefield Banc Trading Up 2.6 %

Shares of NASDAQ:MBCN opened at $23.19 on Thursday. The stock has a market cap of $187.14 million, a PE ratio of 11.31 and a beta of 0.65. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.06. Middlefield Banc has a 12-month low of $21.36 and a 12-month high of $37.00. The business has a 50 day moving average of $23.27 and a 200-day moving average of $26.82.

Middlefield Banc (NASDAQ:MBCN) last released its earnings results on Tuesday, April 30th. The bank reported $0.51 earnings per share (EPS) for the quarter, topping 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. As a group, equities research analysts forecast that Middlefield Banc will post 1.75 earnings per share for the current year.

Middlefield Banc Announces Dividend

The business also recently announced 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. This represents a $0.80 annualized dividend and a yield of 3.45%. The ex-dividend date was Thursday, February 29th. Middlefield Banc’s payout ratio is presently 39.02%.

Hedge Funds Weigh In On Middlefield Banc

A number of hedge funds and other institutional investors have recently made changes to their positions in MBCN. Cerity Partners LLC acquired a new position in shares of Middlefield Banc in the 4th quarter worth approximately $290,000. Virtu Financial LLC acquired a new stake in Middlefield Banc during the 4th quarter worth about $273,000. SG Americas Securities LLC bought a new position in shares of Middlefield Banc in the 3rd quarter worth about $116,000. Redmont Wealth Advisors LLC lifted its stake in shares of Middlefield Banc by 14.2% in the 1st quarter. Redmont Wealth Advisors LLC now owns 32,017 shares of the bank’s stock valued at $765,000 after purchasing an additional 3,989 shares during the period. Finally, BNP Paribas Financial Markets boosted its position 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 valued at $88,000 after purchasing an additional 1,204 shares in the last quarter. 31.72% of the stock is owned by institutional investors and hedge funds.

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.