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

Middlefield Banc Corp. (NASDAQ:MBCN - Get Free Report) declared a quarterly dividend on Monday, May 12th, RTT News reports. Stockholders of record on Friday, May 30th will be paid a dividend of 0.21 per share by the bank on Friday, June 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, May 30th.

Middlefield Banc has raised its dividend payment by an average of 7.2% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Middlefield Banc has a dividend payout ratio of 38.4% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of Middlefield Banc stock traded down $0.69 during midday trading on Friday, hitting $28.81. The company had a trading volume of 12,508 shares, compared to its average volume of 10,007. Middlefield Banc has a 1-year low of $20.61 and a 1-year high of $34.00. The business's 50 day simple moving average is $26.54 and its two-hundred day simple moving average is $27.52. The stock has a market cap of $232.81 million, a PE ratio of 15.01 and a beta of 0.40. 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 posted its quarterly earnings results on Thursday, April 24th. The bank reported $0.60 earnings per share (EPS) 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 analysts predict that Middlefield Banc will post 1.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Hovde Group cut their price target on Middlefield Banc from $28.00 to $25.00 and set a "market perform" rating for the company in a report on Monday, January 27th. StockNews.com upgraded Middlefield Banc from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Middlefield Banc stock. Empowered Funds LLC raised its position in shares of Middlefield Banc Corp. (NASDAQ:MBCN - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,863 shares of the bank's stock after buying an additional 598 shares during the period. Empowered Funds LLC owned about 0.22% of Middlefield Banc worth $499,000 as of its most recent filing with the Securities and Exchange Commission. 31.72% of the stock is owned by institutional investors.

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.