Middlefield Banc (NASDAQ:MBCN) Given “Market Perform” Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of Middlefield Banc (NASDAQ:MBCN) in a research note published on Thursday, Benzinga reports. They currently have a $25.00 price target on the bank’s stock, down from their prior price target of $30.00.

MBCN has been the subject of a number of other research reports. StockNews.com raised shares of Middlefield Banc from a sell rating to a hold rating in a research report on Wednesday. Hovde Group decreased their price objective on Middlefield Banc from $25.00 to $23.00 and set a market perform rating for the company in a report on Wednesday.

Middlefield Banc Stock Up 2.6 %

Shares of Middlefield Banc stock traded up $0.59 on Thursday, hitting $23.19. 3,116 shares of the company’s stock traded hands, compared to its average volume of 6,943. The stock has a market cap of $187.14 million, a P/E ratio of 11.31 and a beta of 0.65. The firm’s 50-day moving average is $23.27 and its 200 day moving average is $26.82. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.06. Middlefield Banc has a 52-week low of $21.36 and a 52-week high of $37.00.

Middlefield Banc (NASDAQ:MBCN) last released its earnings results on Tuesday, April 30th. The bank reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.09. Middlefield Banc had a net margin of 16.41% and a return on equity of 8.33%. The company had revenue of $26.41 million during the quarter, compared to the consensus estimate of $17.10 million. Equities analysts anticipate that Middlefield Banc will post 1.75 earnings per share for the current year.

Middlefield Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Thursday, February 29th. Middlefield Banc’s dividend payout ratio is currently 39.02%.

Institutional Investors Weigh In On Middlefield Banc

A number of institutional investors have recently added to or reduced their stakes in MBCN. Cerity Partners LLC acquired a new position in shares of Middlefield Banc during the 4th quarter valued at $290,000. Virtu Financial LLC acquired a new position in Middlefield Banc during the fourth quarter worth about $273,000. SG Americas Securities LLC bought a new stake in Middlefield Banc in the third quarter worth about $116,000. Redmont Wealth Advisors LLC lifted its holdings in Middlefield Banc by 14.2% in the 1st quarter. Redmont Wealth Advisors LLC now owns 32,017 shares of the bank’s stock valued at $765,000 after acquiring an additional 3,989 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Middlefield Banc by 48.9% during the 1st quarter. BNP Paribas Financial Markets now owns 3,668 shares of the bank’s stock valued at $88,000 after purchasing an additional 1,204 shares in the last quarter. 31.72% 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 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.