Middlefield Banc Corp. (NASDAQ:MBCN - Get Free Report) EVP Thomas M. Wilson purchased 1,000 shares of the stock in a transaction on Thursday, May 9th. The shares were acquired at an average cost of $22.38 per share, with a total value of $22,380.00. Following the transaction, the executive vice president now directly owns 11,498 shares in the company, valued at $257,325.24. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.
Middlefield Banc Stock Down 3.5 %
MBCN traded down $0.81 during trading on Thursday, reaching $22.40. The stock had a trading volume of 12,658 shares, compared to its average volume of 9,984. Middlefield Banc Corp. has a one year low of $21.36 and a one year high of $37.00. The company has a market capitalization of $180.75 million, a price-to-earnings ratio of 10.59 and a beta of 0.65. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.06. The stock's 50 day moving average is $23.26 and its two-hundred day moving average is $26.76.
Middlefield Banc (NASDAQ:MBCN - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The bank reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.09. The company had revenue of $26.41 million during the quarter, compared to analysts' expectations of $17.10 million. Middlefield Banc had a net margin of 16.41% and a return on equity of 8.33%. As a group, analysts expect that Middlefield Banc Corp. will post 1.75 earnings per share for the current year.
Middlefield Banc Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Thursday, February 29th. Middlefield Banc's dividend payout ratio (DPR) is presently 39.02%.
Institutional Investors Weigh In On Middlefield Banc
Several hedge funds have recently added to or reduced their stakes in MBCN. Redmont Wealth Advisors LLC increased its holdings in shares of Middlefield Banc by 14.2% during the first quarter. Redmont Wealth Advisors LLC now owns 32,017 shares of the bank's stock valued at $765,000 after acquiring an additional 3,989 shares in the last quarter. Cerity Partners LLC bought a new stake in Middlefield Banc during the 4th quarter valued at about $290,000. Virtu Financial LLC bought a new stake in shares of Middlefield Banc during the fourth quarter valued at approximately $273,000. SG Americas Securities LLC purchased a new position in Middlefield Banc in the 3rd quarter worth approximately $116,000. Finally, BNP Paribas Financial Markets lifted its position in Middlefield Banc by 48.9% in the 1st quarter. BNP Paribas Financial Markets now owns 3,668 shares of the bank's stock valued at $88,000 after acquiring an additional 1,204 shares in the last quarter. 31.72% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on MBCN. Keefe, Bruyette & Woods restated a "market perform" rating and set a $25.00 target price (down previously from $30.00) on shares of Middlefield Banc in a report on Thursday, May 2nd. StockNews.com upgraded shares of Middlefield Banc from a "sell" rating to a "hold" rating in a report on Wednesday, May 1st. Finally, Hovde Group reduced their price target on shares of Middlefield Banc from $25.00 to $23.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 1st.
Check Out Our Latest Stock Report on Middlefield Banc
Middlefield Banc Company Profile
(
Get Free Report)
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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