Cerity Partners LLC Makes New $290,000 Investment in Middlefield Banc Corp. (NASDAQ:MBCN)

Cerity Partners LLC bought a new position in shares of Middlefield Banc Corp. (NASDAQ:MBCN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,965 shares of the bank’s stock, valued at approximately $290,000. Cerity Partners LLC owned 0.11% of Middlefield Banc as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Redmont Wealth Advisors LLC grew its position in shares of Middlefield Banc by 6.5% during the third quarter. Redmont Wealth Advisors LLC now owns 32,126 shares of the bank’s stock worth $816,000 after acquiring an additional 1,961 shares during the last quarter. 31.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Middlefield Banc

In related news, Director Michael C. Voinovich bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was purchased at an average price of $26.67 per share, for a total transaction of $26,670.00. Following the transaction, the director now directly owns 8,253 shares of the company’s stock, valued at approximately $220,107.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.81% of the stock is currently owned by insiders.

Middlefield Banc Stock Up 0.6 %

Middlefield Banc stock opened at $21.92 on Friday. The company has a 50-day simple moving average of $23.52 and a 200-day simple moving average of $27.01. The firm has a market capitalization of $176.89 million, a P/E ratio of 10.24 and a beta of 0.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.97 and a current ratio of 0.97. Middlefield Banc Corp. has a one year low of $21.70 and a one year high of $37.00.

Middlefield Banc (NASDAQ:MBCN) last announced its earnings results on Friday, January 26th. The bank reported $0.44 earnings per share (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 the consensus estimate of $17.80 million. Middlefield Banc had a net margin of 17.91% and a return on equity of 8.76%. As a group, equities analysts expect that Middlefield Banc Corp. will post 1.68 earnings per share for the current year.

Middlefield Banc Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.20 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.80 dividend on an annualized basis and a yield of 3.65%. Middlefield Banc’s dividend payout ratio is presently 37.38%.

Analysts Set New Price Targets

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

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.