Shares of Middlefield Banc Corp (NASDAQ:MBCN) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus price objective of $57.00 for the company and are predicting that the company will post $0.97 EPS for the current quarter, according to Zacks. Zacks has also given Middlefield Banc an industry rank of 153 out of 255 based on the ratings given to its competitors.
A number of research analysts recently issued reports on MBCN shares. Zacks Investment Research lowered Middlefield Banc from a “buy” rating to a “hold” rating in a report on Thursday, September 20th. Boenning Scattergood reiterated a “buy” rating on shares of Middlefield Banc in a report on Friday, July 20th.
Middlefield Banc (NASDAQ:MBCN) last released its quarterly earnings results on Thursday, July 19th. The bank reported $0.96 EPS for the quarter, topping the consensus estimate of $0.85 by $0.11. The business had revenue of $10.85 million during the quarter, compared to analyst estimates of $10.98 million. Middlefield Banc had a return on equity of 8.55% and a net margin of 20.64%. Sell-side analysts expect that Middlefield Banc will post 3.7 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Saturday, September 1st were issued a $0.28 dividend. The ex-dividend date was Thursday, August 30th. This represents a $1.12 dividend on an annualized basis and a yield of 2.45%. Middlefield Banc’s dividend payout ratio (DPR) is presently 34.15%.
In related news, Director William J. Skidmore sold 700 shares of Middlefield Banc stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $50.45, for a total value of $35,315.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth E. Jones sold 1,275 shares of Middlefield Banc stock in a transaction on Tuesday, July 24th. The shares were sold at an average price of $48.45, for a total value of $61,773.75. The disclosure for this sale can be found here. Company insiders own 6.97% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. lifted its holdings in Middlefield Banc by 34.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 6,300 shares of the bank’s stock worth $320,000 after buying an additional 1,600 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Middlefield Banc by 164.7% during the 2nd quarter. Bessemer Group Inc. now owns 4,500 shares of the bank’s stock worth $228,000 after buying an additional 2,800 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Middlefield Banc by 147.1% during the 1st quarter. Wells Fargo & Company MN now owns 9,100 shares of the bank’s stock worth $447,000 after buying an additional 5,417 shares during the last quarter. Northern Trust Corp lifted its holdings in Middlefield Banc by 21.2% during the 2nd quarter. Northern Trust Corp now owns 31,711 shares of the bank’s stock worth $1,608,000 after buying an additional 5,539 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in Middlefield Banc during the 1st quarter worth about $370,000. Hedge funds and other institutional investors own 31.36% of the company’s stock.
Middlefield Banc Company Profile
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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