Middlefield Banc (NASDAQ:MBCN) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Brokerages have set a 1 year consensus price objective of $58.00 for the company and are predicting that the company will post $0.96 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Middlefield Banc an industry rank of 173 out of 265 based on the ratings given to related companies.
Several research firms have recently weighed in on MBCN. Zacks Investment Research cut Middlefield Banc from a “buy” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $51.00 price objective on shares of Middlefield Banc in a research report on Friday, December 22nd. Boenning Scattergood reaffirmed a “buy” rating on shares of Middlefield Banc in a research report on Wednesday, January 31st. Finally, ValuEngine lowered Middlefield Banc from a “buy” rating to a “hold” rating in a report on Friday, December 22nd.
Shares of MBCN stock traded down $0.05 on Friday, hitting $49.75. 14,888 shares of the stock were exchanged, compared to its average volume of 5,466. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $160.34, a P/E ratio of 15.17 and a beta of 0.19. Middlefield Banc has a fifty-two week low of $42.10 and a fifty-two week high of $54.60.
Middlefield Banc (NASDAQ:MBCN) last posted its quarterly earnings data on Wednesday, January 24th. The bank reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.62. The company had revenue of $10.72 million during the quarter, compared to analysts’ expectations of $10.71 million. Middlefield Banc had a return on equity of 8.08% and a net margin of 19.35%. equities analysts expect that Middlefield Banc will post 4.04 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.25%. The ex-dividend date was Tuesday, February 27th. This is a positive change from Middlefield Banc’s previous quarterly dividend of $0.27. Middlefield Banc’s dividend payout ratio is presently 32.93%.
In related news, Director William A. Et Al Valerian sold 701 shares of the company’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $49.12, for a total transaction of $34,433.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William A. Et Al Valerian sold 1,100 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $49.86, for a total value of $54,846.00. The disclosure for this sale can be found here. Insiders have sold 15,850 shares of company stock worth $780,128 in the last quarter. 8.41% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Carnegie Capital Asset Management LLC raised its stake in Middlefield Banc by 4.4% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 87,931 shares of the bank’s stock valued at $4,373,000 after buying an additional 3,700 shares during the period. Northern Trust Corp bought a new stake in Middlefield Banc in the second quarter valued at approximately $1,262,000. Kennedy Capital Management Inc. raised its stake in Middlefield Banc by 240.8% in the fourth quarter. Kennedy Capital Management Inc. now owns 64,713 shares of the bank’s stock valued at $3,119,000 after buying an additional 45,722 shares during the period. SG Americas Securities LLC bought a new stake in Middlefield Banc in the third quarter valued at approximately $376,000. Finally, Shaker Investments LLC OH bought a new stake in Middlefield Banc in the fourth quarter valued at approximately $371,000. Institutional investors and hedge funds own 24.91% of the company’s stock.
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Middlefield Banc Company Profile
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 accepts checking, savings, negotiable order of withdrawal, and money market accounts, as well as time certificates of deposit and IRA accounts.
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