Goldman Sachs Group Inc. Has $484,000 Position in Middlefield Banc Corp. $MBCN

Key Points

• Goldman Sachs Group Inc. reduced its stake in Middlefield Banc Corp. by 48.9% during Q1 2023, now holding approximately 0.21% of the company's shares worth $484,000.
• Middlefield Banc reported earnings of $0.76 per share for the last quarter, surpassing analyst expectations of $0.57, alongside a revenue of $20.52 million.
• The company recently declared a quarterly dividend of $0.21 per share, representing an annual yield of 2.7% and a payout ratio of 37.33%.

Goldman Sachs Group Inc. trimmed its position in shares of Middlefield Banc Corp. (NASDAQ:MBCN - Free Report) by 48.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,334 shares of the bank's stock after selling 16,600 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.21% of Middlefield Banc worth $484,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in Middlefield Banc by 3.5% during the first quarter. Empowered Funds LLC now owns 17,863 shares of the bank's stock worth $499,000 after buying an additional 598 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. grew its stake in Middlefield Banc by 42.5% during the first quarter. Elizabeth Park Capital Advisors Ltd. now owns 27,731 shares of the bank's stock worth $775,000 after buying an additional 8,269 shares during the last quarter. Nuveen LLC bought a new stake in Middlefield Banc during the first quarter worth about $396,000. Deutsche Bank AG bought a new stake in Middlefield Banc during the first quarter worth about $155,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Middlefield Banc by 5.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 21,437 shares of the bank's stock worth $599,000 after buying an additional 1,164 shares during the last quarter. 31.72% of the stock is owned by institutional investors.

Middlefield Banc Price Performance

Shares of MBCN stock opened at $30.98 on Friday. Middlefield Banc Corp. has a 52-week low of $22.74 and a 52-week high of $34.00. The stock has a market cap of $250.32 million, a PE ratio of 13.77 and a beta of 0.45. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.98 and a current ratio of 0.98. The firm's 50 day moving average price is $29.90 and its two-hundred day moving average price is $28.68.

Middlefield Banc (NASDAQ:MBCN - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.19. Middlefield Banc had a net margin of 16.16% and a return on equity of 8.54%. The firm had revenue of $20.52 million for the quarter, compared to analysts' expectations of $18.30 million. As a group, analysts forecast that Middlefield Banc Corp. will post 1.96 EPS for the current year.

Middlefield Banc Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were issued a $0.21 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.84 annualized dividend and a yield of 2.7%. Middlefield Banc's dividend payout ratio (DPR) is 37.33%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MBCN. Zacks Research cut shares of Middlefield Banc from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $33.00 price target (up from $32.00) on shares of Middlefield Banc in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $29.00.

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.

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