Zacks: Middlefield Banc Corp. (MBCN) Given Consensus Rating of “Strong Buy” by Analysts
Middlefield Banc Corp. (NASDAQ:MBCN) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating. Middlefield Banc Corp.’s rating score has improved by 66.7% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 12 month consensus price objective of $54.00 for the company and are anticipating that the company will post $0.81 EPS for the current quarter, according to Zacks. Zacks has also assigned Middlefield Banc Corp. an industry rank of 70 out of 265 based on the ratings given to related companies.
MBCN has been the topic of a number of analyst reports. Keefe, Bruyette & Woods restated a “hold” rating and issued a $47.00 price target on shares of Middlefield Banc Corp. in a research note on Thursday, July 27th. Boenning Scattergood initiated coverage on Middlefield Banc Corp. in a research note on Tuesday, August 15th. They issued an “outperform” rating on the stock.
In other Middlefield Banc Corp. news, CFO Donald L. Stacy sold 750 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $54.00, for a total value of $40,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Darryl E. Mast purchased 2,400 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was acquired at an average price of $45.42 per share, for a total transaction of $109,008.00. The disclosure for this purchase can be found here. 8.41% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund acquired a new stake in Middlefield Banc Corp. during the second quarter worth $141,000. The Manufacturers Life Insurance Company purchased a new stake in Middlefield Banc Corp. during the second quarter worth approximately $145,000. Wells Fargo & Company MN boosted its stake in Middlefield Banc Corp. by 0.3% in the second quarter. Wells Fargo & Company MN now owns 2,926 shares of the bank’s stock worth $148,000 after buying an additional 10 shares during the period. YHB Investment Advisors Inc. purchased a new stake in Middlefield Banc Corp. during the first quarter worth approximately $205,000. Finally, FMR LLC purchased a new stake in Middlefield Banc Corp. during the first quarter worth approximately $226,000. Institutional investors own 24.57% of the company’s stock.
Shares of Middlefield Banc Corp. (NASDAQ:MBCN) traded up 0.67% on Tuesday, reaching $45.25. The company had a trading volume of 277 shares. Middlefield Banc Corp. has a 12 month low of $32.45 and a 12 month high of $54.60. The firm’s 50 day moving average is $45.48 and its 200 day moving average is $46.47. The firm has a market capitalization of $145.30 million, a PE ratio of 15.24 and a beta of 0.16.
Middlefield Banc Corp. (NASDAQ:MBCN) last posted its quarterly earnings results on Wednesday, July 26th. The bank reported $0.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.02. Middlefield Banc Corp. had a net margin of 18.69% and a return on equity of 8.19%. The business had revenue of $10.27 million during the quarter. On average, equities research analysts expect that Middlefield Banc Corp. will post $3.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Wednesday, August 30th. Middlefield Banc Corp.’s dividend payout ratio is presently 36.73%.
Middlefield Banc Corp. Company Profile
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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