Middlefield Banc (NASDAQ:MBCN) Receives New Coverage from Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Middlefield Banc (NASDAQ:MBCNGet Rating) in a report released on Saturday. The brokerage set a “buy” rating on the bank’s stock.

Middlefield Banc Stock Performance

NASDAQ MBCN opened at $27.28 on Friday. The company has a market cap of $158.28 million, a PE ratio of 9.06 and a beta of 0.60. The stock’s 50 day simple moving average is $26.41 and its 200-day simple moving average is $25.62. Middlefield Banc has a 1-year low of $22.82 and a 1-year high of $30.62. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92.

Middlefield Banc (NASDAQ:MBCNGet Rating) last released its earnings results on Monday, July 18th. The bank reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.03. Middlefield Banc had a return on equity of 12.89% and a net margin of 31.25%. The business had revenue of $13.41 million for the quarter, compared to the consensus estimate of $13.20 million.

Institutional Investors Weigh In On Middlefield Banc

Hedge funds and other institutional investors have recently made changes to their positions in the stock. LSV Asset Management acquired a new stake in shares of Middlefield Banc in the first quarter valued at approximately $104,000. Acadian Asset Management LLC acquired a new stake in Middlefield Banc during the fourth quarter worth $133,000. Sonen Capital LLC acquired a new stake in Middlefield Banc during the first quarter worth $248,000. State Street Corp increased its stake in Middlefield Banc by 8.1% during the first quarter. State Street Corp now owns 17,700 shares of the bank’s stock worth $439,000 after acquiring an additional 1,323 shares during the last quarter. Finally, Redmont Wealth Advisors LLC increased its stake in Middlefield Banc by 17.0% during the first quarter. Redmont Wealth Advisors LLC now owns 18,165 shares of the bank’s stock worth $451,000 after acquiring an additional 2,640 shares during the last quarter. Institutional investors and hedge funds own 28.43% of the company’s stock.

Middlefield Banc Company Profile

(Get Rating)

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 provides 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.

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