Middlefield Banc (MBCN) to Release Earnings on Monday

Middlefield Banc (NASDAQ:MBCN) is scheduled to post its quarterly earnings results on Monday, April 22nd.

Middlefield Banc (NASDAQ:MBCN) last released its earnings results on Friday, January 26th. The bank reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). The company had revenue of $25.69 million during the quarter, compared to analysts’ expectations of $17.80 million. Middlefield Banc had a return on equity of 8.76% and a net margin of 17.91%. On average, analysts expect Middlefield Banc to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Middlefield Banc Price Performance

MBCN opened at $22.29 on Friday. The firm has a market cap of $179.88 million, a PE ratio of 10.42 and a beta of 0.62. The stock has a 50-day moving average price of $23.84 and a 200-day moving average price of $27.17. Middlefield Banc has a 1 year low of $21.85 and a 1 year high of $37.00. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.80 annualized dividend and a yield of 3.59%. Middlefield Banc’s dividend payout ratio (DPR) is presently 37.38%.

Insiders Place Their Bets

In other news, Director Michael C. Voinovich acquired 1,000 shares of Middlefield Banc stock in a transaction that occurred on Friday, February 2nd. The stock was bought at an average price of $26.67 per share, for a total transaction of $26,670.00. Following the completion of the transaction, the director now owns 8,253 shares in the company, valued at $220,107.51. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Middlefield Banc

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its position in Middlefield Banc by 8.4% during the first quarter. BlackRock Inc. now owns 25,646 shares of the bank’s stock valued at $636,000 after buying an additional 1,996 shares during the period. LSV Asset Management bought a new stake in shares of Middlefield Banc during the 1st quarter valued at $104,000. Dimensional Fund Advisors LP increased its stake in shares of Middlefield Banc by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 96,410 shares of the bank’s stock worth $2,393,000 after purchasing an additional 463 shares in the last quarter. Fourthstone LLC raised its holdings in Middlefield Banc by 55.4% in the 1st quarter. Fourthstone LLC now owns 50,375 shares of the bank’s stock worth $1,250,000 after purchasing an additional 17,950 shares during the period. Finally, State Street Corp lifted its position in Middlefield Banc by 8.1% during the first quarter. State Street Corp now owns 17,700 shares of the bank’s stock valued at $439,000 after purchasing an additional 1,323 shares in the last quarter. Hedge funds and other institutional investors own 31.72% of the company’s stock.

Analyst Ratings Changes

Separately, Hovde Group assumed coverage on shares of Middlefield Banc in a report on Monday, April 1st. They set a “market perform” rating and a $25.00 price target on the 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.