Brokerages Anticipate Middlefield Banc Corp (MBCN) to Post $1.04 EPS

Middlefield Banc Corp (NASDAQ:MBCN) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Analysts have set a 12 month consensus price target of $54.00 for the company and are forecasting that the company will post $1.04 EPS for the current quarter, according to Zacks. Zacks has also assigned Middlefield Banc an industry rank of 210 out of 255 based on the ratings given to related companies.

A number of equities research analysts have recently issued reports on MBCN shares. ValuEngine downgraded shares of Middlefield Banc from a “hold” rating to a “sell” rating in a research report on Wednesday, January 30th. Boenning Scattergood reiterated a “buy” rating on shares of Middlefield Banc in a research report on Friday, January 18th. Finally, Zacks Investment Research downgraded shares of Middlefield Banc from a “buy” rating to a “hold” rating in a research report on Wednesday, December 19th.

MBCN stock opened at $41.09 on Friday. Middlefield Banc has a 12-month low of $38.50 and a 12-month high of $54.90. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $131.04 million, a PE ratio of 10.73 and a beta of 0.25.

Middlefield Banc (NASDAQ:MBCN) last posted its quarterly earnings results on Thursday, January 17th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.06. Middlefield Banc had a net margin of 22.99% and a return on equity of 10.04%. The company had revenue of $11.44 million during the quarter, compared to the consensus estimate of $11.34 million. On average, analysts forecast that Middlefield Banc will post 4.24 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.28 per share. The ex-dividend date was Thursday, February 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.73%. Middlefield Banc’s payout ratio is 29.24%.

Several hedge funds have recently bought and sold shares of MBCN. Renaissance Technologies LLC raised its position in shares of Middlefield Banc by 9.4% during the 3rd quarter. Renaissance Technologies LLC now owns 22,953 shares of the bank’s stock worth $1,081,000 after purchasing an additional 1,981 shares during the last quarter. Siena Capital Partners GP LLC raised its position in shares of Middlefield Banc by 15.7% during the 4th quarter. Siena Capital Partners GP LLC now owns 99,174 shares of the bank’s stock worth $4,208,000 after purchasing an additional 13,426 shares during the last quarter. Carnegie Capital Asset Management LLC raised its position in shares of Middlefield Banc by 17.9% during the 3rd quarter. Carnegie Capital Asset Management LLC now owns 117,981 shares of the bank’s stock worth $5,354,000 after purchasing an additional 17,925 shares during the last quarter. Ancora Advisors LLC raised its position in shares of Middlefield Banc by 3.2% during the 4th quarter. Ancora Advisors LLC now owns 104,511 shares of the bank’s stock worth $4,435,000 after purchasing an additional 3,268 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Middlefield Banc by 15.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 28,186 shares of the bank’s stock worth $1,328,000 after purchasing an additional 3,862 shares during the last quarter. Institutional investors own 28.53% 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 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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