Middlefield Banc (NASDAQ:MBCN) Given New $23.00 Price Target at Hovde Group

Middlefield Banc (NASDAQ:MBCN - Free Report) had its price objective trimmed by Hovde Group from $25.00 to $23.00 in a research report report published on Wednesday morning, MarketBeat.com reports. The firm currently has a market perform rating on the bank's stock.

Middlefield Banc Price Performance

NASDAQ MBCN traded up $0.02 during trading on Wednesday, reaching $21.49. The company's stock had a trading volume of 10,092 shares, compared to its average volume of 10,208. The stock has a market capitalization of $173.42 million, a PE ratio of 10.28 and a beta of 0.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a fifty day moving average of $23.37 and a 200 day moving average of $26.92. Middlefield Banc has a one year low of $21.36 and a one year high of $37.00.

Middlefield Banc (NASDAQ:MBCN - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The bank reported $0.51 EPS for the quarter, beating the consensus estimate of $0.42 by $0.09. The firm had revenue of $26.41 million for the quarter, compared to analyst estimates of $17.10 million. Middlefield Banc had a return on equity of 8.76% and a net margin of 17.91%. Analysts expect that Middlefield Banc will post 1.68 EPS for the current fiscal year.

Middlefield Banc Announces Dividend

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 3.72%. The ex-dividend date of this dividend was Thursday, February 29th. Middlefield Banc's dividend payout ratio (DPR) is presently 37.38%.

Insider Activity at Middlefield Banc

In related news, Director Michael C. Voinovich acquired 1,000 shares of Middlefield Banc stock in a transaction that occurred on Friday, February 2nd. The stock was bought at an average price of $26.67 per share, with a total value of $26,670.00. Following the transaction, the director now directly owns 8,253 shares in the company, valued at $220,107.51. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.81% of the stock is owned by corporate insiders.

Institutional Trading of Middlefield Banc

Institutional investors and hedge funds have recently modified their holdings of the business. Redmont Wealth Advisors LLC grew its holdings in shares of Middlefield Banc by 6.5% in the third quarter. Redmont Wealth Advisors LLC now owns 32,126 shares of the bank's stock worth $816,000 after acquiring an additional 1,961 shares during the period. Cerity Partners LLC bought a new stake in shares of Middlefield Banc in the fourth quarter worth $290,000. Virtu Financial LLC bought a new stake in shares of Middlefield Banc in the fourth quarter worth $273,000. SG Americas Securities LLC bought a new stake in shares of Middlefield Banc in the third quarter worth $116,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Middlefield Banc by 48.9% in the first quarter. BNP Paribas Financial Markets now owns 3,668 shares of the bank's stock worth $88,000 after acquiring an additional 1,204 shares during the period. Institutional investors own 31.72% of the company's stock.

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 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.