Middlefield Banc Corp. (NASDAQ:MBCN) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday.

According to Zacks, “Middlefield Banc Corp. is a bank holding company for The Middlefield Banking Company. It offers its customers a broad range of banking services, including checking, savings, and negotiable order of withdrawal (NOW) accounts; money market accounts; time certificates of deposit, commercial loans, real estate loans, and various types of consumer loans; safe deposit facilities, and traveller’s checks. The Company also offers online banking and bill payment services. Middlefield Banc Corp. is headquartered in Middlefield, Ohio. “

A number of other brokerages also recently weighed in on MBCN. Boenning Scattergood reissued an “outperform” rating and issued a $54.00 price target on shares of Middlefield Banc Corp. in a report on Monday, August 14th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $47.00 price target on shares of Middlefield Banc Corp. in a report on Thursday, July 27th.

COPYRIGHT VIOLATION NOTICE: This news story was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/11/02/middlefield-banc-corp-mbcn-downgraded-to-strong-sell-at-zacks-investment-research.html.

Several large investors have recently modified their holdings of the stock. M3F Inc. purchased a new position in shares of Middlefield Banc Corp. in the 2nd quarter worth about $5,040,000. Banc Funds Co. LLC boosted its holdings 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 worth $4,284,000 after buying an additional 43,750 shares during the last quarter. Carnegie Capital Asset Management LLC purchased a new position in shares of Middlefield Banc Corp. in the 2nd quarter worth about $3,555,000. Siena Capital Management LLC purchased a new position in shares of Middlefield Banc Corp. in the 2nd quarter worth about $3,780,000. Finally, Stieven Capital Advisors L.P. purchased a new position in shares of Middlefield Banc Corp. in the 2nd quarter worth 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.

Receive News & Stock Ratings for Middlefield Banc Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middlefield Banc Corp. and related stocks with our FREE daily email newsletter.