Middlefield Banc (MBCN) Raised to Buy at ValuEngine

Middlefield Banc (NASDAQ:MBCN) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday, February 2nd.

Other equities analysts have also issued reports about the stock. Boenning Scattergood reiterated a “buy” rating on shares of Middlefield Banc in a research report on Wednesday, January 31st. Zacks Investment Research upgraded shares of Middlefield Banc from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Wednesday, January 3rd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $51.00 price objective on shares of Middlefield Banc in a report on Friday, December 22nd.

Shares of Middlefield Banc (NASDAQ:MBCN) traded up $0.40 during trading on Friday, reaching $49.90. 3,500 shares of the company’s stock traded hands, compared to its average volume of 3,398. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $159.28, a PE ratio of 16.39 and a beta of 0.17. Middlefield Banc has a 1 year low of $39.40 and a 1 year high of $54.60.

In other news, Director William A. Et Al Valerian sold 923 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.50, for a total transaction of $45,688.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William A. Et Al Valerian sold 1,858 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $50.42, for a total transaction of $93,680.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,881 shares of company stock valued at $194,215. 8.41% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund acquired a new stake in Middlefield Banc in the 2nd quarter worth about $141,000. The Manufacturers Life Insurance Company acquired a new stake in Middlefield Banc in the 2nd quarter worth about $145,000. Wells Fargo & Company MN raised its stake in Middlefield Banc by 0.3% in the 2nd quarter. Wells Fargo & Company MN now owns 2,926 shares of the bank’s stock worth $148,000 after purchasing an additional 10 shares in the last quarter. Teachers Advisors LLC acquired a new stake in Middlefield Banc in the 2nd quarter worth about $230,000. Finally, California State Teachers Retirement System acquired a new stake in Middlefield Banc in the 2nd quarter worth about $232,000. Institutional investors own 26.53% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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