ValuEngine lowered shares of Middlefield Banc (NASDAQ:MBCN) from a hold rating to a sell rating in a research note issued to investors on Friday morning.
Several other research analysts have also weighed in on MBCN. Zacks Investment Research upgraded Middlefield Banc from a hold rating to a strong-buy rating and set a $55.00 target price on the stock in a report on Thursday, July 26th. Boenning Scattergood restated a buy rating on shares of Middlefield Banc in a report on Friday, July 20th.
MBCN stock opened at $45.88 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $148.37 million, a price-to-earnings ratio of 13.99 and a beta of 0.20. Middlefield Banc has a 1-year low of $42.95 and a 1-year high of $54.90.
Middlefield Banc (NASDAQ:MBCN) last posted its earnings results on Wednesday, October 17th. The bank reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.05. The firm had revenue of $11.20 million for the quarter, compared to analyst estimates of $11.14 million. Middlefield Banc had a return on equity of 9.20% and a net margin of 21.86%. Analysts predict that Middlefield Banc will post 3.76 earnings per share for the current year.
In other news, Director Darryl E. Mast purchased 1,500 shares of the business’s stock in a transaction dated Tuesday, October 23rd. The shares were bought at an average cost of $46.58 per share, for a total transaction of $69,870.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.97% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MBCN. Wells Fargo & Company MN raised its holdings in Middlefield Banc by 147.1% during the first quarter. Wells Fargo & Company MN now owns 9,100 shares of the bank’s stock worth $447,000 after acquiring an additional 5,417 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in Middlefield Banc during the first quarter worth about $370,000. Bessemer Group Inc. raised its holdings in Middlefield Banc by 164.7% during the second quarter. Bessemer Group Inc. now owns 4,500 shares of the bank’s stock worth $228,000 after acquiring an additional 2,800 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Middlefield Banc by 34.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 6,300 shares of the bank’s stock worth $320,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Martingale Asset Management L P bought a new stake in Middlefield Banc during the second quarter worth about $710,000. Institutional investors and hedge funds own 31.34% of the company’s stock.
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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