Keefe, Bruyette & Woods Raises Middlefield Banc (NASDAQ:MBCN) Price Target to $32.00

Middlefield Banc (NASDAQ:MBCN) had its target price increased by Keefe, Bruyette & Woods from $30.00 to $32.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 4.23% from the stock’s current price.

Separately, StockNews.com upgraded shares of Middlefield Banc from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th.

Middlefield Banc Stock Down 0.3 %

NASDAQ:MBCN traded down $0.09 during trading hours on Wednesday, reaching $30.70. The company’s stock had a trading volume of 5,377 shares, compared to its average volume of 10,429. The company has a market cap of $247.78 million, a price-to-earnings ratio of 17.44 and a beta of 0.69. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97. Middlefield Banc has a one year low of $20.61 and a one year high of $37.00. The business’s 50-day moving average is $29.57 and its 200-day moving average is $26.17.

Middlefield Banc (NASDAQ:MBCN) last issued its earnings results on Thursday, October 17th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.18). Middlefield Banc had a return on equity of 6.86% and a net margin of 13.31%. The company had revenue of $16.82 million for the quarter, compared to the consensus estimate of $17.10 million. Equities research analysts predict that Middlefield Banc will post 1.79 EPS for the current year.

Institutional Trading of Middlefield Banc

A number of institutional investors have recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Middlefield Banc by 104.2% in the third quarter. FMR LLC now owns 1,117 shares of the bank’s stock worth $32,000 after acquiring an additional 570 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in Middlefield Banc during the 3rd quarter valued at $225,000. Empowered Funds LLC lifted its stake in shares of Middlefield Banc by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 16,536 shares of the bank’s stock worth $476,000 after acquiring an additional 804 shares during the period. Barclays PLC grew its holdings in Middlefield Banc by 69.2% during the third quarter. Barclays PLC now owns 16,916 shares of the bank’s stock worth $487,000 after acquiring an additional 6,918 shares during the period. Finally, State Street Corp boosted its stake in shares of Middlefield Banc by 0.9% during the 3rd quarter. State Street Corp now owns 102,516 shares of the bank’s stock worth $2,952,000 after acquiring an additional 963 shares in the last quarter. 31.72% of the stock is currently owned by hedge funds and other institutional investors.

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 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.