Middlefield Banc Corp (NASDAQ:MBCN) – Equities researchers at Boenning Scattergood reduced their Q3 2018 EPS estimates for Middlefield Banc in a research report issued on Wednesday. Boenning Scattergood analyst S. Beury now expects that the bank will post earnings of $1.04 per share for the quarter, down from their prior forecast of $1.06. Boenning Scattergood currently has a “Buy” rating on the stock.
A number of other research firms have also recently weighed in on MBCN. ValuEngine raised shares of Middlefield Banc from a “hold” rating to a “buy” rating in a research note on Friday. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $51.00 target price on shares of Middlefield Banc in a research note on Friday, December 22nd. Finally, Zacks Investment Research raised shares of Middlefield Banc from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Wednesday, January 3rd.
Shares of Middlefield Banc (NASDAQ:MBCN) opened at $49.55 on Monday. The firm has a market cap of $159.44, a PE ratio of 15.98 and a beta of 0.17. Middlefield Banc has a 52 week low of $39.20 and a 52 week high of $54.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.01 and a quick ratio of 1.01.
A number of large investors have recently added to or reduced their stakes in MBCN. State Street Corp acquired a new position in Middlefield Banc in the second quarter valued at about $1,336,000. Northern Trust Corp acquired a new position in Middlefield Banc in the second quarter valued at about $1,262,000. SG Americas Securities LLC acquired a new position in Middlefield Banc in the third quarter valued at about $376,000. Vanguard Group Inc. acquired a new position in Middlefield Banc in the second quarter valued at about $399,000. Finally, Bank of New York Mellon Corp acquired a new position in Middlefield Banc in the second quarter valued at about $393,000. Hedge funds and other institutional investors own 26.57% of the company’s stock.
In other Middlefield Banc news, Director William A. Et Al Valerian sold 1,100 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $49.86, for a total value of $54,846.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.41% of the stock is owned by insiders.
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Middlefield Banc Company Profile
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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