Middlefield Banc (MBCN) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Middlefield Banc (NASDAQ:MBCN) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

According to Zacks, “Middlefield Banc Corp. is a bank holding company for The Middlefield Banking Company. It offers its customers a broad range of banking services, including checking, savings, and negotiable order of withdrawal (NOW) accounts; money market accounts; time certificates of deposit, commercial loans, real estate loans, and various types of consumer loans; safe deposit facilities, and traveller’s checks. The Company also offers online banking and bill payment services. Middlefield Banc Corp. is headquartered in Middlefield, Ohio. “

How to Become a New Pot Stock Millionaire

Several other brokerages also recently weighed in on MBCN. ValuEngine raised shares of Middlefield Banc from a hold rating to a buy rating in a research report on Friday, February 2nd. Boenning Scattergood reissued a buy rating on shares of Middlefield Banc in a research report on Wednesday, January 31st. Finally, Keefe, Bruyette & Woods reissued a hold rating and set a $51.00 price target on shares of Middlefield Banc in a research report on Friday, December 22nd.

Shares of NASDAQ MBCN opened at $49.75 on Wednesday. Middlefield Banc has a fifty-two week low of $42.10 and a fifty-two week high of $54.60. The company has a market cap of $160.51, a price-to-earnings ratio of 15.17 and a beta of 0.19. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.24.

Middlefield Banc (NASDAQ:MBCN) last announced its earnings results on Wednesday, January 24th. The bank reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.62. Middlefield Banc had a net margin of 19.35% and a return on equity of 8.08%. The business had revenue of $10.72 million during the quarter, compared to the consensus estimate of $10.71 million. sell-side analysts anticipate that Middlefield Banc will post 4.04 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.12 annualized dividend and a dividend yield of 2.25%. This is an increase from Middlefield Banc’s previous quarterly dividend of $0.27. Middlefield Banc’s dividend payout ratio (DPR) is 32.93%.

In related news, Director William A. Et Al Valerian sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $49.34, for a total transaction of $29,604.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth E. Jones sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $48.08, for a total transaction of $96,160.00. The disclosure for this sale can be found here. Insiders have sold 15,850 shares of company stock valued at $780,128 in the last three months. 8.41% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Carnegie Capital Asset Management LLC boosted its holdings in Middlefield Banc by 4.4% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 87,931 shares of the bank’s stock worth $4,373,000 after purchasing an additional 3,700 shares during the last quarter. Northern Trust Corp purchased a new stake in Middlefield Banc in the second quarter worth approximately $1,262,000. Kennedy Capital Management Inc. boosted its holdings in Middlefield Banc by 240.8% in the fourth quarter. Kennedy Capital Management Inc. now owns 64,713 shares of the bank’s stock worth $3,119,000 after purchasing an additional 45,722 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Middlefield Banc in the third quarter worth approximately $376,000. Finally, Shaker Investments LLC OH purchased a new stake in Middlefield Banc in the fourth quarter worth approximately $371,000. 24.91% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This article was first published by Ticker Report and is the sole property of of Ticker Report. If you are viewing this article on another domain, it was stolen and reposted in violation of United States & international copyright and trademark law. The original version of this article can be read at https://www.tickerreport.com/banking-finance/3340348/middlefield-banc-mbcn-downgraded-by-zacks-investment-research-to-hold.html.

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.

Get a free copy of the Zacks research report on Middlefield Banc (MBCN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Middlefield Banc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middlefield Banc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Cantor Fitzgerald Raises Intuitive Surgical  Price Target to $510.00
Cantor Fitzgerald Raises Intuitive Surgical Price Target to $510.00
JPMorgan Chase Boosts UnitedHealth Group  Price Target to $266.00
JPMorgan Chase Boosts UnitedHealth Group Price Target to $266.00
Mizuho Reaffirms “Buy” Rating for QUALCOMM
Mizuho Reaffirms “Buy” Rating for QUALCOMM
Noah  and PJT Partners  Critical Review
Noah and PJT Partners Critical Review
Head-To-Head Analysis: The Meet Group  & Quotient Technology
Head-To-Head Analysis: The Meet Group & Quotient Technology
Mersana Therapeutics  Stock Rating Upgraded by Zacks Investment Research
Mersana Therapeutics Stock Rating Upgraded by Zacks Investment Research


Leave a Reply

© 2006-2018 Ticker Report. Google+.