Boenning Scattergood set a $54.00 target price on Middlefield Banc Corp. (NASDAQ:MBCN) in a research note issued to investors on Tuesday morning. The brokerage currently has a buy rating on the bank’s stock. Boenning Scattergood also issued estimates for Middlefield Banc Corp.’s Q4 2017 earnings at $0.79 EPS, FY2017 earnings at $3.17 EPS, Q1 2018 earnings at $0.80 EPS, Q2 2018 earnings at $0.83 EPS, Q3 2018 earnings at $0.91 EPS, Q4 2018 earnings at $0.90 EPS, FY2018 earnings at $3.44 EPS and FY2019 earnings at $3.55 EPS.

Separately, Keefe, Bruyette & Woods reiterated a hold rating and issued a $47.00 price target on shares of Middlefield Banc Corp. in a research report on Thursday, July 27th.

Shares of Middlefield Banc Corp. (MBCN) traded down $1.70 on Tuesday, reaching $45.35. The company’s stock had a trading volume of 5,659 shares, compared to its average volume of 3,990. Middlefield Banc Corp. has a 52-week low of $34.40 and a 52-week high of $54.60. The firm has a market cap of $145.79, a P/E ratio of 15.18 and a beta of 0.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.01 and a quick ratio of 1.00.

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Several large investors have recently made changes to their positions in the company. M3F Inc. acquired a new position in shares of Middlefield Banc Corp. in the 2nd quarter valued at about $5,040,000. Banc Funds Co. LLC lifted its stake in shares of Middlefield Banc Corp. by 106.1% in the 2nd quarter. Banc Funds Co. LLC now owns 84,991 shares of the bank’s stock valued at $4,284,000 after purchasing an additional 43,750 shares during the period. Carnegie Capital Asset Management LLC acquired a new position in shares of Middlefield Banc Corp. in the 2nd quarter valued at about $3,555,000. Siena Capital Management LLC acquired a new position in shares of Middlefield Banc Corp. in the 2nd quarter valued at about $3,780,000. Finally, Stieven Capital Advisors L.P. acquired a new position in shares of Middlefield Banc Corp. in the 2nd quarter valued at about $3,585,000. 24.55% of the stock is currently owned by institutional investors.

About Middlefield Banc Corp.

Middlefield Banc Corp. is a bank holding company. The Company’s subsidiaries include The Middlefield Banking Company (MBC) and EMORECO Inc MBC is engaged in the general commercial banking business in northeastern and central Ohio. MBC offers customers a range of banking services, including checking, savings, 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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