Middlefield Banc Corp. (MBCN) PT Set at $54.00 by Boenning Scattergood

Middlefield Banc Corp. (NASDAQ:MBCN) received a $54.00 price target from equities researchers at Boenning Scattergood in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the bank’s stock. Boenning Scattergood’s price target points to a potential upside of 18.55% from the stock’s current price. Boenning Scattergood also issued estimates for Middlefield Banc Corp.’s Q4 2017 earnings at $0.79 EPS, FY2017 earnings at $3.17 EPS, Q1 2018 earnings at $0.80 EPS, Q2 2018 earnings at $0.83 EPS, Q3 2018 earnings at $0.91 EPS, Q4 2018 earnings at $0.90 EPS, FY2018 earnings at $3.44 EPS and FY2019 earnings at $3.55 EPS.

Separately, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $47.00 target price on shares of Middlefield Banc Corp. in a research report on Thursday, July 27th.

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A number of institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN grew its position in Middlefield Banc Corp. by 0.3% during the 2nd quarter. Wells Fargo & Company MN now owns 2,926 shares of the bank’s stock worth $148,000 after purchasing an additional 10 shares during the last quarter. New York State Common Retirement Fund purchased a new position in Middlefield Banc Corp. during the 2nd quarter worth $141,000. The Manufacturers Life Insurance Company purchased a new position in Middlefield Banc Corp. during the 2nd quarter worth $145,000. Teachers Advisors LLC purchased a new position in Middlefield Banc Corp. during the 2nd quarter worth $230,000. Finally, California State Teachers Retirement System purchased a new position in Middlefield Banc Corp. during the 2nd quarter worth $232,000. 24.55% of the stock is currently owned by institutional investors.

Middlefield Banc Corp. Company Profile

Middlefield Banc Corp. is a bank holding company. The Company’s subsidiaries include The Middlefield Banking Company (MBC) and EMORECO Inc MBC is engaged in the general commercial banking business in northeastern and central Ohio. MBC offers customers a range of banking services, including checking, savings, 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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