Zacks: Middlefield Banc Corp. (NASDAQ:MBCN) Given Average Recommendation of “Hold” by Analysts
Shares of Middlefield Banc Corp. (NASDAQ:MBCN) have been assigned an average broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.
Brokerages have set a 12-month consensus price target of $38.00 for the company, according to Zacks. Zacks has also given Middlefield Banc Corp. an industry rank of 93 out of 265 based on the ratings given to related companies.
Separately, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $44.00 target price on shares of Middlefield Banc Corp. in a research report on Wednesday, April 5th.
In other Middlefield Banc Corp. news, CFO Donald L. Stacy sold 750 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $54.00, for a total transaction of $40,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Darryl E. Mast bought 1,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were bought at an average cost of $52.42 per share, with a total value of $52,420.00. The disclosure for this purchase can be found here. 8.41% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. YHB Investment Advisors Inc. bought a new stake in shares of Middlefield Banc Corp. during the first quarter worth about $205,000. FMR LLC bought a new stake in shares of Middlefield Banc Corp. during the first quarter worth about $226,000. Huntington National Bank boosted its stake in shares of Middlefield Banc Corp. by 42.9% in the first quarter. Huntington National Bank now owns 17,882 shares of the bank’s stock worth $807,000 after buying an additional 5,367 shares during the last quarter. Gendell Jeffrey L boosted its stake in shares of Middlefield Banc Corp. by 66.0% in the first quarter. Gendell Jeffrey L now owns 18,653 shares of the bank’s stock worth $842,000 after buying an additional 7,418 shares during the last quarter. Finally, Geode Capital Management LLC bought a new stake in shares of Middlefield Banc Corp. during the first quarter worth about $1,140,000. 5.53% of the stock is owned by hedge funds and other institutional investors.
Middlefield Banc Corp. (NASDAQ MBCN) traded up 0.61% on Monday, hitting $49.45. 1,696 shares of the stock were exchanged. Middlefield Banc Corp. has a one year low of $31.66 and a one year high of $54.60. The company’s 50 day moving average price is $51.74 and its 200-day moving average price is $44.25. The company has a market cap of $158.44 million, a P/E ratio of 16.32 and a beta of 0.20.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Friday, June 2nd were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, May 31st. This represents a $1.08 dividend on an annualized basis and a yield of 2.18%. Middlefield Banc Corp.’s payout ratio is currently 35.41%.
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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