Middlefield Banc (NASDAQ:MBCN) Now Covered by Hovde Group

Hovde Group started coverage on shares of Middlefield Banc (NASDAQ:MBCN - Free Report) in a research note released on Monday morning, StockNewsAPI reports. The firm issued a market perform rating and a $25.00 price objective on the bank's stock.

Middlefield Banc Trading Down 1.4 %

NASDAQ MBCN traded down $0.33 during trading on Monday, hitting $23.55. 4,045 shares of the company's stock traded hands, compared to its average volume of 11,357. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a fifty day moving average of $25.17 and a two-hundred day moving average of $27.54. The firm has a market cap of $190.52 million, a P/E ratio of 11.00 and a beta of 0.62. Middlefield Banc has a 12-month low of $22.09 and a 12-month high of $37.00.

Middlefield Banc (NASDAQ:MBCN - Get Free Report) last posted its earnings results on Friday, January 26th. The bank reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.06). The firm had revenue of $25.69 million for the quarter, compared to analysts' expectations of $17.80 million. Middlefield Banc had a return on equity of 8.93% and a net margin of 17.91%. As a group, sell-side analysts expect that Middlefield Banc will post 1.68 EPS for the current year.

Middlefield Banc Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.40%. Middlefield Banc's dividend payout ratio is currently 37.38%.

Insider Transactions at Middlefield Banc

In related news, Director Michael C. Voinovich purchased 1,000 shares of the firm's stock in a transaction that occurred on Friday, February 2nd. The stock was bought at an average cost of $26.67 per share, with a total value of $26,670.00. Following the completion of the purchase, the director now directly owns 8,253 shares in the company, valued at $220,107.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.91% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Middlefield Banc

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Middlefield Banc by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 382,414 shares of the bank's stock worth $12,379,000 after buying an additional 3,092 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Middlefield Banc during the fourth quarter valued at approximately $273,000. Barclays PLC increased its stake in shares of Middlefield Banc by 103.5% during the fourth quarter. Barclays PLC now owns 18,199 shares of the bank's stock valued at $589,000 after purchasing an additional 9,258 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of Middlefield Banc by 37.0% during the fourth quarter. Nuveen Asset Management LLC now owns 14,177 shares of the bank's stock valued at $459,000 after purchasing an additional 3,829 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in shares of Middlefield Banc by 2.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 49,519 shares of the bank's stock valued at $1,603,000 after purchasing an additional 1,344 shares in the last quarter. 31.72% of the stock is owned by institutional investors.

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 provides 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.