Shares of Middlefield Banc Corp (NASDAQ:MBCN) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Brokers have set a twelve-month consensus price objective of $57.00 for the company and are anticipating that the company will post $0.99 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Middlefield Banc an industry rank of 151 out of 255 based on the ratings given to related companies.
MBCN has been the topic of several analyst reports. Zacks Investment Research downgraded Middlefield Banc from a “buy” rating to a “hold” rating in a report on Thursday, September 20th. Boenning Scattergood set a $57.00 target price on Middlefield Banc and gave the stock a “buy” rating in a report on Thursday, October 18th. Finally, ValuEngine downgraded Middlefield Banc from a “hold” rating to a “sell” rating in a report on Friday.
Shares of NASDAQ MBCN traded down $0.52 during mid-day trading on Monday, hitting $45.88. 1,805 shares of the stock traded hands, compared to its average volume of 3,267. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.15. Middlefield Banc has a 52 week low of $42.95 and a 52 week high of $54.90. The firm has a market capitalization of $150.12 million, a PE ratio of 13.99 and a beta of 0.20.
Middlefield Banc (NASDAQ:MBCN) last released its earnings results on Wednesday, October 17th. The bank reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.05. Middlefield Banc had a return on equity of 9.20% and a net margin of 21.86%. The business had revenue of $11.20 million for the quarter, compared to the consensus estimate of $11.14 million. On average, research analysts anticipate that Middlefield Banc will post 3.76 earnings per share for the current year.
In related news, Director Darryl E. Mast bought 1,500 shares of the company’s stock in a transaction on Tuesday, October 23rd. The shares were acquired at an average cost of $46.58 per share, with a total value of $69,870.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.97% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. bought a new stake in Middlefield Banc in the third quarter worth $125,000. Northern Trust Corp lifted its holdings in shares of Middlefield Banc by 21.2% during the second quarter. Northern Trust Corp now owns 31,711 shares of the bank’s stock valued at $1,608,000 after purchasing an additional 5,539 shares in the last quarter. Carnegie Capital Asset Management LLC lifted its holdings in shares of Middlefield Banc by 11.9% during the second quarter. Carnegie Capital Asset Management LLC now owns 100,056 shares of the bank’s stock valued at $5,085,000 after purchasing an additional 10,649 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Middlefield Banc by 366.0% during the second quarter. Renaissance Technologies LLC now owns 20,972 shares of the bank’s stock valued at $1,063,000 after purchasing an additional 16,472 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Middlefield Banc by 222.8% during the second quarter. Dimensional Fund Advisors LP now owns 24,324 shares of the bank’s stock valued at $1,233,000 after purchasing an additional 16,788 shares in the last quarter. 31.35% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading: Diversification For Individual Investors
Get a free copy of the Zacks research report on Middlefield Banc (MBCN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Middlefield Banc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middlefield Banc and related companies with MarketBeat.com's FREE daily email newsletter.