14,177 Shares in Middlefield Banc Corp. $MBCN Bought by Nuveen LLC

Key Points

• Nuveen LLC has invested $396,000 in Middlefield Banc Corp, acquiring 14,177 shares, which represents approximately 0.18% of the company's total shares.
• Several institutional investors, including Barclays PLC and Dimensional Fund Advisors LP, have also increased their holdings in Middlefield Banc during the fourth quarter.
• Middlefield Banc announced a quarterly dividend of $0.21 per share, with a payout date of September 12th, reflecting an annualized yield of 2.7%.

Nuveen LLC bought a new position in shares of Middlefield Banc Corp. (NASDAQ:MBCN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,177 shares of the bank's stock, valued at approximately $396,000. Nuveen LLC owned approximately 0.18% of Middlefield Banc as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Deutsche Bank AG acquired a new position in shares of Middlefield Banc during the first quarter valued at about $155,000. Charles Schwab Investment Management Inc. raised its stake in Middlefield Banc by 5.7% during the 1st 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 period. Bank of New York Mellon Corp boosted its holdings in Middlefield Banc by 9.1% in the first quarter. Bank of New York Mellon Corp now owns 26,525 shares of the bank's stock worth $741,000 after acquiring an additional 2,216 shares in the last quarter. GAMMA Investing LLC grew its stake in Middlefield Banc by 3,024.5% in the first quarter. GAMMA Investing LLC now owns 6,624 shares of the bank's stock valued at $185,000 after acquiring an additional 6,412 shares during the period. Finally, Citadel Advisors LLC increased its holdings in shares of Middlefield Banc by 10.9% during the fourth quarter. Citadel Advisors LLC now owns 18,608 shares of the bank's stock valued at $522,000 after acquiring an additional 1,827 shares in the last quarter. 31.72% of the stock is currently owned by institutional investors and hedge funds.

Middlefield Banc Stock Down 1.7%

NASDAQ MBCN traded down $0.50 on Wednesday, reaching $29.40. The company had a trading volume of 4,257 shares, compared to its average volume of 6,711. The stock has a market capitalization of $237.55 million, a P/E ratio of 13.07 and a beta of 0.45. The company's fifty day moving average is $29.81 and its 200 day moving average is $28.27. Middlefield Banc Corp. has a 52-week low of $22.74 and a 52-week high of $34.00. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.05.

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

Middlefield Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 29th. Middlefield Banc's dividend payout ratio is presently 37.33%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $33.00 target price (up from $32.00) on shares of Middlefield Banc in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Middlefield Banc has a consensus rating of "Hold" and a consensus price target 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.