Middlefield Banc (NASDAQ:MBCN) Upgraded at Zacks Research

Zacks Research upgraded shares of Middlefield Banc (NASDAQ:MBCN) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Several other research firms also recently weighed in on MBCN. Weiss Ratings reissued a “buy (b-)” rating on shares of Middlefield Banc in a research note on Monday, December 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $35.00 target price (up from $32.00) on shares of Middlefield Banc in a research note on Thursday, October 23rd. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.00.

Middlefield Banc Stock Up 0.6%

Shares of MBCN opened at $35.99 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.99 and a current ratio of 0.99. Middlefield Banc has a one year low of $22.74 and a one year high of $37.67. The stock has a market capitalization of $291.16 million, a price-to-earnings ratio of 13.79 and a beta of 0.40. The stock has a 50 day moving average price of $35.00 and a 200 day moving average price of $32.03.

Middlefield Banc (NASDAQ:MBCN) last announced its quarterly earnings data on Wednesday, October 22nd. The bank reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. Middlefield Banc had a return on equity of 9.79% and a net margin of 18.39%.The company had revenue of $19.89 million for the quarter, compared to analyst estimates of $19.57 million. Equities research analysts forecast that Middlefield Banc will post 1.96 earnings per share for the current fiscal year.

Middlefield Banc Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, November 28th. Middlefield Banc’s payout ratio is presently 32.18%.

Institutional Trading of Middlefield Banc

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its holdings in Middlefield Banc by 102.1% in the third quarter. BNP Paribas Financial Markets now owns 1,512 shares of the bank’s stock valued at $45,000 after acquiring an additional 764 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Middlefield Banc by 107.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 2,047 shares of the bank’s stock valued at $62,000 after purchasing an additional 1,059 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Middlefield Banc by 650.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,769 shares of the bank’s stock valued at $83,000 after purchasing an additional 2,400 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Middlefield Banc by 21.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,504 shares of the bank’s stock worth $225,000 after purchasing an additional 1,313 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Middlefield Banc during the 2nd quarter worth about $243,000. Hedge funds and other institutional investors own 31.72% of the company’s stock.

Middlefield Banc Company Profile

Middlefield Banc is a bank holding company headquartered in Middlefield, Ohio, operating through its subsidiary, Middlefield Banking Company. The firm offers a suite of deposit products, including checking, savings, money market accounts and certificates of deposit, alongside comprehensive cash management solutions designed for both individual consumers and businesses.

On the lending side, Middlefield Banc specializes in commercial and residential real estate loans, consumer installment loans and lines of credit.