Middlefield Banc’s (MBCN) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

Middlefield Banc (NASDAQ:MBCN)‘s stock had its “market perform” rating reiterated by equities research analysts at Keefe, Bruyette & Woods in a research report issued on Thursday, Benzinga reports. They presently have a $25.00 target price on the bank’s stock, down from their prior target price of $30.00. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 16.33% from the stock’s previous close.

A number of other research firms have also recently weighed in on MBCN. Hovde Group lowered their target price on shares of Middlefield Banc from $25.00 to $23.00 and set a “market perform” rating on the stock in a research note on Wednesday. StockNews.com upgraded shares of Middlefield Banc from a “sell” rating to a “hold” rating in a research note on Wednesday.

Middlefield Banc Stock Performance

NASDAQ:MBCN traded up $0.02 during trading hours on Thursday, reaching $21.49. The company had a trading volume of 10,097 shares, compared to its average volume of 6,921. Middlefield Banc has a 52 week low of $21.36 and a 52 week high of $37.00. The firm’s 50 day moving average price is $23.32 and its 200-day moving average price is $26.89. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.06. The firm has a market cap of $173.42 million, a price-to-earnings ratio of 10.48 and a beta of 0.65.

Middlefield Banc (NASDAQ:MBCN) last issued its quarterly earnings data on Tuesday, April 30th. The bank reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. Middlefield Banc had a net margin of 16.41% and a return on equity of 8.33%. The firm had revenue of $26.41 million during the quarter, compared to the consensus estimate of $17.10 million. On average, analysts forecast that Middlefield Banc will post 1.68 EPS for the current year.

Insider Activity at Middlefield Banc

In other news, Director Michael C. Voinovich purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were bought at an average cost of $26.67 per share, for a total transaction of $26,670.00. Following the acquisition, the director now owns 8,253 shares of the company’s stock, valued at approximately $220,107.51. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Middlefield Banc

A number of hedge funds have recently added to or reduced their stakes in MBCN. BNP Paribas Financial Markets lifted its position in shares of Middlefield Banc by 48.9% in the 1st quarter. BNP Paribas Financial Markets now owns 3,668 shares of the bank’s stock worth $88,000 after purchasing an additional 1,204 shares during the period. Redmont Wealth Advisors LLC lifted its position in shares of Middlefield Banc by 6.5% in the 3rd quarter. Redmont Wealth Advisors LLC now owns 32,126 shares of the bank’s stock worth $816,000 after purchasing an additional 1,961 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Middlefield Banc in the 3rd quarter worth approximately $116,000. Virtu Financial LLC purchased a new stake in shares of Middlefield Banc in the 4th quarter worth approximately $273,000. Finally, Cerity Partners LLC purchased a new stake in shares of Middlefield Banc in the 4th quarter worth approximately $290,000. 31.72% 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 offers checking, savings, negotiable order of withdrawal accounts, money market accounts, time certificates of deposit, commercial loans, real estate loans, various consumer loans, safe deposit facilities, and travelers' checks.