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

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

A number of other equities research analysts have also recently commented on MBCN. StockNews.com raised shares of Middlefield Banc from a “sell” rating to a “hold” rating in a research note on Wednesday. Hovde Group reduced 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 report on Wednesday.

Middlefield Banc Price Performance

Shares of NASDAQ:MBCN traded up $0.02 on Thursday, reaching $21.49. 10,097 shares of the company were exchanged, compared to its average volume of 6,921. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.06. Middlefield Banc has a 1-year low of $21.36 and a 1-year high of $37.00. The firm has a market cap of $173.42 million, a price-to-earnings ratio of 10.48 and a beta of 0.65. The company has a 50-day moving average of $23.32 and a 200-day moving average of $26.89.

Middlefield Banc (NASDAQ:MBCN) last posted its quarterly earnings results on Tuesday, April 30th. The bank reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.09. The business had revenue of $26.41 million for the quarter, compared to analysts’ expectations of $17.10 million. Middlefield Banc had a net margin of 16.41% and a return on equity of 8.33%. Equities analysts forecast that Middlefield Banc will post 1.68 earnings per share for the current fiscal year.

Insider Transactions at Middlefield Banc

In other Middlefield Banc 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 purchased at an average price of $26.67 per share, for a total transaction of $26,670.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.81% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its holdings in Middlefield Banc by 48.9% in the first quarter. BNP Paribas Financial Markets now owns 3,668 shares of the bank’s stock valued at $88,000 after buying an additional 1,204 shares during the period. SG Americas Securities LLC acquired a new stake in Middlefield Banc in the third quarter valued at approximately $116,000. Virtu Financial LLC acquired a new stake in Middlefield Banc in the fourth quarter valued at approximately $273,000. Cerity Partners LLC acquired a new stake in Middlefield Banc in the fourth quarter valued at approximately $290,000. Finally, Redmont Wealth Advisors LLC grew its position in Middlefield Banc by 14.2% in the first quarter. Redmont Wealth Advisors LLC now owns 32,017 shares of the bank’s stock valued at $765,000 after acquiring an additional 3,989 shares in the last quarter. Hedge funds and other institutional investors own 31.72% of the company’s stock.

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.