Middlefield Banc (NASDAQ:MBCN) Posts Earnings Results

Middlefield Banc (NASDAQ:MBCN) announced its earnings results on Tuesday. The bank reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.27), FiscalAI reports. The business had revenue of $19.34 million for the quarter, compared to analysts’ expectations of $19.97 million. Middlefield Banc had a return on equity of 8.91% and a net margin of 16.65%.

Middlefield Banc Trading Up 0.9%

MBCN traded up $0.31 during midday trading on Thursday, hitting $34.82. The company’s stock had a trading volume of 881 shares, compared to its average volume of 37,233. Middlefield Banc has a 52-week low of $22.74 and a 52-week high of $37.67. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $35.07 and a two-hundred day moving average price of $32.41. The firm has a market cap of $281.69 million, a P/E ratio of 14.55 and a beta of 0.38.

Middlefield Banc Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, February 17th. Middlefield Banc’s dividend payout ratio (DPR) is presently 35.15%.

Institutional Trading of Middlefield Banc

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its position in Middlefield Banc by 102.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,512 shares of the bank’s stock worth $45,000 after acquiring an additional 764 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Middlefield Banc by 650.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,769 shares of the bank’s stock worth $83,000 after purchasing an additional 2,400 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Middlefield Banc by 21.2% in the third quarter. JPMorgan Chase & Co. now owns 7,504 shares of the bank’s stock valued at $225,000 after purchasing an additional 1,313 shares during the period. Deutsche Bank AG acquired a new stake in Middlefield Banc during the 4th quarter valued at $262,000. Finally, Jane Street Group LLC purchased a new stake in Middlefield Banc during the 2nd quarter worth $243,000. 31.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on MBCN. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $35.00 price target (up from $32.00) on shares of Middlefield Banc in a report on Thursday, October 23rd. Zacks Research raised Middlefield Banc from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Middlefield Banc in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $35.00.

Middlefield Banc Company Profile

Middlefield Banc is a bank holding company headquartered in Middlefield, Ohio, operating through its subsidiary, Middlefield Banking Company. The firm offers a suite of deposit products, including checking, savings, money market accounts and certificates of deposit, alongside comprehensive cash management solutions designed for both individual consumers and businesses.

On the lending side, Middlefield Banc specializes in commercial and residential real estate loans, consumer installment loans and lines of credit.