Middlefield Banc Corp to Issue Quarterly Dividend of $0.28 (MBCN)

Middlefield Banc Corp (NASDAQ:MBCN) declared a quarterly dividend on Tuesday, May 14th, NASDAQ reports. Investors of record on Friday, May 31st will be given a dividend of 0.28 per share by the bank on Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, May 30th.

Middlefield Banc has increased its dividend by an average of 1.5% annually over the last three years. Middlefield Banc has a payout ratio of 30.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Middlefield Banc to earn $4.28 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 26.2%.

NASDAQ:MBCN opened at $39.00 on Wednesday. The company has a market cap of $127.42 million, a P/E ratio of 10.18 and a beta of 0.24. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.09. Middlefield Banc has a 52-week low of $38.50 and a 52-week high of $54.42.

Middlefield Banc (NASDAQ:MBCN) last announced its earnings results on Monday, April 22nd. The bank reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.12). Middlefield Banc had a net margin of 22.94% and a return on equity of 10.13%. The company had revenue of $11.36 million during the quarter, compared to analysts’ expectations of $11.72 million. On average, research analysts expect that Middlefield Banc will post 3.97 EPS for the current fiscal year.

Several research analysts have weighed in on the company. Zacks Investment Research downgraded Middlefield Banc from a “hold” rating to a “sell” rating in a research note on Saturday, April 27th. Boenning Scattergood set a $54.00 target price on Middlefield Banc and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, ValuEngine downgraded Middlefield Banc from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th.

An institutional investor recently raised its position in Middlefield Banc stock. Geode Capital Management LLC raised its stake in Middlefield Banc Corp (NASDAQ:MBCN) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,260 shares of the bank’s stock after purchasing an additional 1,441 shares during the quarter. Geode Capital Management LLC owned 0.75% of Middlefield Banc worth $1,029,000 at the end of the most recent reporting period. Institutional investors own 32.11% 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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Dividend History for Middlefield Banc (NASDAQ:MBCN)

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