Middlefield Banc (NASDAQ:MBCN) Upgraded at StockNews.com

StockNews.com upgraded shares of Middlefield Banc (NASDAQ:MBCN) from a sell rating to a hold rating in a research report released on Thursday morning.

Separately, Hovde Group cut their target price on Middlefield Banc from $28.00 to $25.00 and set a “market perform” rating on the stock in a report on Monday, January 27th.

Middlefield Banc Stock Up 1.0 %

MBCN opened at $24.37 on Thursday. The company has a market capitalization of $196.93 million, a PE ratio of 12.69 and a beta of 0.41. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97. Middlefield Banc has a fifty-two week low of $20.61 and a fifty-two week high of $34.00. The business has a 50-day moving average of $25.83 and a 200-day moving average of $27.62.

Middlefield Banc (NASDAQ:MBCN) last posted its earnings results on Thursday, January 23rd. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Middlefield Banc had a net margin of 14.31% and a return on equity of 7.47%. Equities research analysts forecast that Middlefield Banc will post 1.96 EPS for the current fiscal year.

Middlefield Banc Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.45%. This is a boost from Middlefield Banc’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, February 28th. Middlefield Banc’s payout ratio is presently 43.75%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MBCN. Geode Capital Management LLC boosted its holdings in Middlefield Banc by 0.8% during the third quarter. Geode Capital Management LLC now owns 165,355 shares of the bank’s stock valued at $4,763,000 after acquiring an additional 1,368 shares during the period. State Street Corp boosted its stake in Middlefield Banc by 0.9% during the 3rd quarter. State Street Corp now owns 102,516 shares of the bank’s stock valued at $2,952,000 after purchasing an additional 963 shares during the period. Dimensional Fund Advisors LP grew its holdings in Middlefield Banc by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 80,885 shares of the bank’s stock valued at $2,269,000 after buying an additional 1,224 shares during the last quarter. Huntington National Bank increased its position in Middlefield Banc by 10.1% in the 4th quarter. Huntington National Bank now owns 38,290 shares of the bank’s stock worth $1,074,000 after buying an additional 3,508 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Middlefield Banc by 112.1% during the fourth quarter. JPMorgan Chase & Co. now owns 25,831 shares of the bank’s stock worth $725,000 after buying an additional 13,651 shares during the last quarter. Institutional investors own 31.72% 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 offers checking, savings, negotiable order of withdrawal accounts, money market accounts, time certificates of deposit, commercial loans, real estate loans, various consumer loans, safe deposit facilities, and travelers' checks.