Middlefield Banc Corp. (NASDAQ:MBCN) Stock Position Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in Middlefield Banc Corp. (NASDAQ:MBCN - Free Report) by 112.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,831 shares of the bank's stock after purchasing an additional 13,651 shares during the quarter. JPMorgan Chase & Co. owned 0.32% of Middlefield Banc worth $725,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Middlefield Banc by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 165,355 shares of the bank's stock valued at $4,763,000 after acquiring an additional 1,368 shares during the period. Barclays PLC boosted its position in shares of Middlefield Banc by 69.2% in the third quarter. Barclays PLC now owns 16,916 shares of the bank's stock worth $487,000 after buying an additional 6,918 shares during the period. Empowered Funds LLC grew its stake in shares of Middlefield Banc by 4.4% in the fourth quarter. Empowered Funds LLC now owns 17,265 shares of the bank's stock valued at $484,000 after buying an additional 729 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Middlefield Banc by 0.9% in the third quarter. State Street Corp now owns 102,516 shares of the bank's stock valued at $2,952,000 after buying an additional 963 shares in the last quarter. Hedge funds and other institutional investors own 31.72% of the company's stock.

Middlefield Banc Stock Down 1.7 %

NASDAQ MBCN traded down $0.50 during trading hours on Monday, reaching $28.72. 382 shares of the company traded hands, compared to its average volume of 9,980. The stock has a market capitalization of $232.09 million, a PE ratio of 14.96 and a beta of 0.40. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.06. Middlefield Banc Corp. has a 12 month low of $20.61 and a 12 month high of $34.00. The company has a 50 day moving average of $25.87 and a two-hundred day moving average of $27.41.

Middlefield Banc (NASDAQ:MBCN - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.12. Middlefield Banc had a return on equity of 7.47% and a net margin of 14.31%. The company had revenue of $18.04 million for the quarter, compared to the consensus estimate of $17.23 million. As a group, equities analysts expect that Middlefield Banc Corp. will post 1.96 earnings per share for the current year.

Middlefield Banc Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.21 dividend. This is a positive change from Middlefield Banc's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Friday, February 28th. Middlefield Banc's dividend payout ratio is currently 41.79%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MBCN shares. Hovde Group lowered their price objective on shares of Middlefield Banc from $28.00 to $25.00 and set a "market perform" rating for the company in a research report on Monday, January 27th. StockNews.com raised shares of Middlefield Banc from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th.

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 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.