Middlefield Banc (NASDAQ:MBCN) Issues Quarterly Earnings Results

Middlefield Banc (NASDAQ:MBCN - Get Free Report) issued its quarterly earnings results on Tuesday. The bank reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.19, Zacks reports. Middlefield Banc had a return on equity of 7.69% and a net margin of 14.78%.

Middlefield Banc Trading Up 2.6%

Middlefield Banc stock traded up $0.79 during trading hours on Tuesday, reaching $30.63. The company had a trading volume of 9,242 shares, compared to its average volume of 9,777. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.98 and a quick ratio of 0.98. The company has a 50-day moving average price of $29.74 and a 200 day moving average price of $27.33. The firm has a market cap of $247.52 million, a price-to-earnings ratio of 15.24 and a beta of 0.41. Middlefield Banc has a 12-month low of $22.32 and a 12-month high of $34.00.

Middlefield Banc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 2.74%. Middlefield Banc's dividend payout ratio (DPR) is currently 41.79%.

Hedge Funds Weigh In On Middlefield Banc

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

Wall Street Analyst Weigh In

MBCN has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their price target on Middlefield Banc from $30.00 to $32.00 and gave the company a "market perform" rating in a research note on Friday, July 11th. Wall Street Zen raised Middlefield Banc from a "sell" rating to a "hold" rating in a research report 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.

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