Middlefield Banc Corp (NASDAQ:MBCN) – Equities research analysts at Boenning Scattergood raised their Q1 2018 earnings per share (EPS) estimates for shares of Middlefield Banc in a research note issued on Wednesday. Boenning Scattergood analyst S. Beury now expects that the bank will post earnings of $0.96 per share for the quarter, up from their prior estimate of $0.93. Boenning Scattergood currently has a “Buy” rating on the stock. Boenning Scattergood also issued estimates for Middlefield Banc’s Q2 2018 earnings at $0.99 EPS, FY2018 earnings at $4.04 EPS and FY2019 earnings at $4.25 EPS.
MBCN has been the subject of several other research reports. ValuEngine lowered Middlefield Banc from a “buy” rating to a “hold” rating in a research report on Friday, December 22nd. Keefe, Bruyette & Woods restated a “hold” rating and set a $51.00 target price on shares of Middlefield Banc in a research report on Friday, December 22nd. Finally, Zacks Investment Research upgraded Middlefield Banc from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Wednesday, January 3rd.
Middlefield Banc (NASDAQ MBCN) opened at $49.55 on Friday. Middlefield Banc has a 12-month low of $39.20 and a 12-month high of $54.60. The stock has a market capitalization of $159.29, a P/E ratio of 15.93 and a beta of 0.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.01 and a current ratio of 1.01.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. New York State Common Retirement Fund bought a new position in Middlefield Banc in the second quarter worth approximately $141,000. The Manufacturers Life Insurance Company bought a new position in Middlefield Banc in the second quarter worth approximately $145,000. Wells Fargo & Company MN raised its stake in Middlefield Banc by 0.3% in the second quarter. Wells Fargo & Company MN now owns 2,926 shares of the bank’s stock worth $148,000 after buying an additional 10 shares in the last quarter. Teachers Advisors LLC bought a new position in Middlefield Banc in the second quarter worth approximately $230,000. Finally, California State Teachers Retirement System bought a new position in Middlefield Banc in the second quarter worth approximately $232,000. Hedge funds and other institutional investors own 26.57% of the company’s stock.
In related news, Director William A. Et Al Valerian sold 1,100 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $49.86, for a total value of $54,846.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.41% of the stock is currently owned by insiders.
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About Middlefield Banc
Middlefield Banc Corp. is a bank holding company. The Company’s subsidiaries include The Middlefield Banking Company (MBC) and EMORECO Inc MBC is engaged in the general commercial banking business in northeastern and central Ohio. MBC offers customers a range of banking services, including checking, savings, money market accounts, time certificates of deposit, commercial loans, real estate loans, various consumer loans, safe deposit facilities and travelers’ checks.
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