Middlefield Banc (NASDAQ:MBCN) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of Middlefield Banc (NASDAQ:MBCN) from a hold rating to a strong sell rating in a research note published on Monday,Zacks.com reports.

MBCN has been the subject of several other reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $35.00 target price (up from $32.00) on shares of Middlefield Banc in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Middlefield Banc in a report on Monday. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $30.00.

Middlefield Banc Price Performance

Middlefield Banc stock opened at $35.18 on Monday. The stock has a market cap of $284.61 million, a price-to-earnings ratio of 13.48 and a beta of 0.40. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.05. The business has a 50-day simple moving average of $33.94 and a 200 day simple moving average of $31.31. Middlefield Banc has a 52 week low of $22.74 and a 52 week high of $37.67.

Middlefield Banc (NASDAQ:MBCN) last issued its quarterly earnings results on Wednesday, October 22nd. The bank reported $0.65 earnings per share (EPS) 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 firm had revenue of $19.89 million during the quarter, compared to the consensus estimate of $19.57 million. On average, research analysts forecast that Middlefield Banc will post 1.96 earnings per share for the current fiscal year.

Middlefield Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, November 28th. Middlefield Banc’s payout ratio is presently 32.18%.

Hedge Funds Weigh In On Middlefield Banc

Several institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its stake in Middlefield Banc by 102.1% in the third quarter. BNP Paribas Financial Markets now owns 1,512 shares of the bank’s stock worth $45,000 after purchasing an additional 764 shares during the last quarter. Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Middlefield Banc by 107.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 2,047 shares of the bank’s stock worth $62,000 after buying an additional 1,059 shares during the period. 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 acquiring an additional 2,400 shares during the last quarter. Deutsche Bank AG purchased a new stake in Middlefield Banc during the 1st quarter valued at about $155,000. Finally, JPMorgan Chase & Co. grew its position in 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 acquiring an additional 1,313 shares during the last quarter. Institutional investors own 31.72% of the company’s stock.

About Middlefield Banc

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.