Middlefield Banc (NASDAQ:MBCN) Rating Increased to Hold at Zacks Research

Middlefield Banc (NASDAQ:MBCN) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other analysts have also issued reports on MBCN. Weiss Ratings restated a “buy (b-)” rating on shares of Middlefield Banc in a research note on Monday, December 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $35.00 target price (up from $32.00) on shares of Middlefield Banc in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.00.

Middlefield Banc Stock Performance

Shares of MBCN stock opened at $35.78 on Tuesday. The company has a fifty day moving average price of $34.96 and a two-hundred day moving average price of $32.00. Middlefield Banc has a one year low of $22.74 and a one year high of $37.67. The stock has a market cap of $289.46 million, a P/E ratio of 13.71 and a beta of 0.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.99 and a quick ratio of 0.99.

Middlefield Banc (NASDAQ:MBCN) last issued its earnings results on Wednesday, October 22nd. The bank reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. Middlefield Banc had a net margin of 18.39% and a return on equity of 9.79%. The company had revenue of $19.89 million for the quarter, compared to analysts’ expectations of $19.57 million. As a group, equities analysts predict that Middlefield Banc will post 1.96 EPS for the current year.

Institutional Investors Weigh In On Middlefield Banc

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its stake in Middlefield Banc by 102.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,512 shares of the bank’s stock worth $45,000 after acquiring an additional 764 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its position in shares of Middlefield Banc by 107.2% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 2,047 shares of the bank’s stock valued at $62,000 after acquiring an additional 1,059 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Middlefield Banc by 650.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,769 shares of the bank’s stock worth $83,000 after purchasing an additional 2,400 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Middlefield Banc by 21.2% in the third quarter. JPMorgan Chase & Co. now owns 7,504 shares of the bank’s stock worth $225,000 after purchasing an additional 1,313 shares during the period. Finally, Jane Street Group LLC acquired a new position in Middlefield Banc in the second quarter valued at about $243,000. 31.72% of the stock is currently owned by institutional investors.

About Middlefield Banc

Middlefield Banc is a bank holding company headquartered in Middlefield, Ohio, operating through its subsidiary, Middlefield Banking Company. The firm offers a suite of deposit products, including checking, savings, money market accounts and certificates of deposit, alongside comprehensive cash management solutions designed for both individual consumers and businesses.

On the lending side, Middlefield Banc specializes in commercial and residential real estate loans, consumer installment loans and lines of credit.