Middlefield Banc (NASDAQ:MBCN) posted its earnings results on Thursday. The bank reported $0.80 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.08), Bloomberg Earnings reports. The firm had revenue of $10.69 million during the quarter, compared to the consensus estimate of $10.97 million. Middlefield Banc had a net margin of 19.97% and a return on equity of 8.18%.
Shares of MBCN stock opened at $52.55 on Friday. The stock has a market capitalization of $170.82, a PE ratio of 17.43 and a beta of 0.19. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.24. Middlefield Banc has a 1-year low of $42.10 and a 1-year high of $54.90.
Several research firms have commented on MBCN. Zacks Investment Research downgraded Middlefield Banc from a “buy” rating to a “hold” rating in a research report on Wednesday, April 4th. Boenning Scattergood reissued a “buy” rating on shares of Middlefield Banc in a research note on Wednesday, January 31st. ValuEngine raised Middlefield Banc from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $51.00 price target on shares of Middlefield Banc in a research note on Friday, December 22nd.
In other news, Director Kenneth E. Jones sold 2,000 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $48.08, for a total value of $96,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William A. Et Al Valerian sold 600 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $49.34, for a total value of $29,604.00. The disclosure for this sale can be found here. In the last three months, insiders sold 15,850 shares of company stock valued at $780,128. Insiders own 6.97% of the company’s stock.
Several hedge funds have recently modified their holdings of MBCN. State Street Corp acquired a new stake in shares of Middlefield Banc in the second quarter valued at about $1,336,000. Vanguard Group Inc. acquired a new stake in shares of Middlefield Banc in the second quarter valued at about $399,000. California State Teachers Retirement System acquired a new stake in shares of Middlefield Banc in the second quarter valued at about $232,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Middlefield Banc in the second quarter valued at about $145,000. 27.85% of the stock is owned by institutional investors.
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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 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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