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

Key Points

• Middlefield Banc Corp. has announced a quarterly dividend of $0.21 per share, payable on September 12th to shareholders recorded on August 29th, reflecting a 3.1% yield.
• The bank's dividend payout ratio is currently 38.4%, indicating strong earnings support for its dividend, which analysts predict will remain sustainable at a 39.6% payout ratio next year.
• Middlefield Banc's shares traded down to $27.48, with stock performance revealing a 12-month low of $22.74 and a high of $34.00.

Middlefield Banc Corp. (NASDAQ:MBCN - Get Free Report) announced a quarterly dividend on Monday, August 11th, RTT News reports. Investors of record on Friday, August 29th will be given a dividend of 0.21 per share by the bank on Friday, September 12th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, August 29th.

Middlefield Banc has a dividend payout ratio of 38.4% meaning 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 Down 1.3%

Shares of MBCN traded down $0.37 on Friday, reaching $28.54. The company's stock had a trading volume of 4,576 shares, compared to its average volume of 7,082. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.05. Middlefield Banc has a twelve month low of $22.74 and a twelve month high of $34.00. The stock has a market capitalization of $230.60 million, a PE ratio of 12.68 and a beta of 0.47. The firm has a fifty day moving average of $29.62 and a 200-day moving average of $27.76.

Middlefield Banc (NASDAQ:MBCN - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The bank reported $0.76 earnings per share for the quarter, topping 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 company had revenue of $20.52 million for the quarter, compared to analyst estimates of $18.30 million. Equities analysts predict that Middlefield Banc will post 1.96 EPS for the current year.

Analyst Upgrades and Downgrades

MBCN has been the subject of several analyst reports. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $33.00 price objective (up previously from $32.00) on shares of Middlefield Banc in a research note on Thursday, July 24th. Wall Street Zen upgraded shares of Middlefield Banc from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th.

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.