Middlefield Banc Corp. (NASDAQ:MBCN) to Issue Quarterly Dividend of $0.21

Middlefield Banc Corp. (NASDAQ:MBCN - Get Free Report) announced a quarterly dividend on Monday, May 12th, RTT News reports. Stockholders of record on Friday, May 30th will be given a dividend of 0.21 per share by the bank on Friday, June 13th. This represents a $0.84 annualized dividend and a dividend yield of 2.85%.

Middlefield Banc has increased its dividend payment by an average of 7.2% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Middlefield Banc has a dividend payout ratio of 38.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Middlefield Banc to earn $2.12 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 39.6%.

Middlefield Banc Trading Up 0.8%

Shares of NASDAQ MBCN traded up $0.23 during midday trading on Monday, reaching $29.51. 7,092 shares of the stock were exchanged, compared to its average volume of 9,953. The business has a 50-day simple moving average of $26.17 and a two-hundred day simple moving average of $27.46. The company has a market capitalization of $238.47 million, a price-to-earnings ratio of 15.37 and a beta of 0.40. Middlefield Banc has a 12 month low of $20.61 and a 12 month high of $34.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. StockNews.com raised shares of Middlefield Banc from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Hovde Group dropped their price objective on shares of Middlefield Banc from $28.00 to $25.00 and set a "market perform" rating on the stock in a research note on Monday, January 27th.

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.

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