Middlefield Banc (NASDAQ:MBCN) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a report released on Wednesday.

A number of other research analysts have also recently commented on MBCN. Zacks Investment Research cut Middlefield Banc from a “buy” rating to a “hold” rating in a report on Wednesday, December 19th. Boenning Scattergood reissued a “buy” rating on shares of Middlefield Banc in a report on Friday, January 18th.

Shares of MBCN stock traded down $0.60 during trading hours on Wednesday, reaching $42.00. 2,500 shares of the company traded hands, compared to its average volume of 2,052. Middlefield Banc has a 12-month low of $38.50 and a 12-month high of $54.90. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.07. The stock has a market cap of $139.25 million, a P/E ratio of 10.97 and a beta of 0.27.

Middlefield Banc (NASDAQ:MBCN) last posted its quarterly earnings results on Thursday, January 17th. The bank reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.06. Middlefield Banc had a return on equity of 10.16% and a net margin of 22.99%. The company had revenue of $11.44 million for the quarter, compared to analysts’ expectations of $11.34 million. On average, equities research analysts expect that Middlefield Banc will post 4.24 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of MBCN. BlackRock Inc. lifted its holdings in Middlefield Banc by 21.9% in the 2nd quarter. BlackRock Inc. now owns 138,467 shares of the bank’s stock worth $7,021,000 after purchasing an additional 24,901 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Middlefield Banc by 222.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 24,324 shares of the bank’s stock worth $1,233,000 after purchasing an additional 16,788 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Middlefield Banc by 366.0% in the 2nd quarter. Renaissance Technologies LLC now owns 20,972 shares of the bank’s stock worth $1,063,000 after purchasing an additional 16,472 shares in the last quarter. Northern Trust Corp lifted its holdings in Middlefield Banc by 21.2% in the 2nd quarter. Northern Trust Corp now owns 31,711 shares of the bank’s stock worth $1,608,000 after purchasing an additional 5,539 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new position in Middlefield Banc in the 3rd quarter worth approximately $125,000. 31.86% of the stock is currently owned by institutional investors.

About Middlefield Banc

Middlefield Banc Corp. operates as the bank holding company for The Middlefield Banking Company that provides various commercial banking services to small and medium-sized businesses, professionals, small business owners, and retail customers in northeastern and central Ohio. It accepts checking, savings, negotiable order of withdrawal, and money market accounts, as well as time certificates of deposit and IRA accounts.

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