Weiss Ratings Reiterates Hold (C) Rating for Middlefield Banc (NASDAQ:MBCN)

Key Points

• Weiss Ratings has reaffirmed its "hold (c)" rating for Middlefield Banc (NASDAQ:MBCN), indicating a cautious sentiment among analysts regarding the stock's performance.
• Recent trading saw MBCN shares down by 1.0% to $28.68, with a market capitalization of $231.69 million and a consensus target price of $29.00.
• Middlefield Banc reported earnings of $0.76 per share for the last quarter, surpassing the consensus estimate of $0.57, alongside revenue of $20.52 million compared to $18.30 million in analyst forecasts.

Middlefield Banc (NASDAQ:MBCN - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Other research analysts have also issued research reports about the stock. Zacks Research lowered shares of Middlefield Banc from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 23rd. Keefe, Bruyette & Woods restated a "market perform" rating and set a $33.00 price target (up previously from $32.00) on shares of Middlefield Banc in a research note on Thursday, July 24th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $29.00.

Middlefield Banc Trading Down 1.0%

Shares of MBCN stock traded down $0.29 during trading hours on Wednesday, reaching $28.68. 399 shares of the stock traded hands, compared to its average volume of 8,345. The firm has a market capitalization of $231.69 million, a PE ratio of 12.74 and a beta of 0.46. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average price of $29.84 and a 200 day moving average price of $28.90. Middlefield Banc has a 1-year low of $22.74 and a 1-year high of $34.00.

Middlefield Banc (NASDAQ:MBCN - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.19. The firm had revenue of $20.52 million for the quarter, compared to analyst estimates of $18.30 million. Middlefield Banc had a net margin of 16.16% and a return on equity of 8.54%. On average, equities research analysts forecast that Middlefield Banc will post 1.96 EPS for the current year.

Institutional Investors Weigh In On Middlefield Banc

A number of hedge funds have recently made changes to their positions in MBCN. Elizabeth Park Capital Advisors Ltd. increased its position in shares of Middlefield Banc by 211.2% during the 2nd quarter. Elizabeth Park Capital Advisors Ltd. now owns 86,307 shares of the bank's stock worth $2,599,000 after purchasing an additional 58,576 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in Middlefield Banc in the 2nd quarter valued at about $1,056,000. Nuveen LLC acquired a new stake in Middlefield Banc in the 1st quarter valued at about $396,000. Hsbc Holdings PLC acquired a new stake in Middlefield Banc in the 2nd quarter valued at about $307,000. Finally, Jane Street Group LLC acquired a new stake in Middlefield Banc in the 2nd quarter valued at about $243,000. Institutional investors and hedge funds 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.

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