Middlefield Banc (NASDAQ:MBCN) Releases Earnings Results, Beats Expectations By $0.19 EPS

Middlefield Banc (NASDAQ:MBCN - Get Free Report) issued its quarterly earnings data on Tuesday. The bank reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.19, Zacks reports. The business had revenue of $20.52 million during the quarter, compared to the consensus estimate of $18.30 million. Middlefield Banc had a net margin of 16.16% and a return on equity of 8.59%.

Middlefield Banc Price Performance

Shares of MBCN traded down $0.29 during mid-day trading on Friday, hitting $29.96. 3,870 shares of the company were exchanged, compared to its average volume of 9,996. Middlefield Banc has a 1-year low of $22.32 and a 1-year high of $34.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.98 and a current ratio of 0.98. The company has a 50 day moving average of $29.83 and a 200-day moving average of $27.42. The stock has a market cap of $242.08 million, a price-to-earnings ratio of 13.32 and a beta of 0.41.

Middlefield Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.21 per share. The ex-dividend date was Friday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 2.80%. Middlefield Banc's dividend payout ratio (DPR) is presently 37.33%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Middlefield Banc stock. Empowered Funds LLC lifted its stake in Middlefield Banc Corp. (NASDAQ:MBCN - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 17,863 shares of the bank's stock after acquiring an additional 598 shares during the quarter. Empowered Funds LLC owned 0.22% of Middlefield Banc worth $499,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 31.72% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. 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 report on Thursday. Wall Street Zen upgraded shares of 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.