Middlefield Banc Corp (MBCN) Receives Average Rating of “Strong Buy” from Brokerages

Shares of Middlefield Banc Corp (NASDAQ:MBCN) have earned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Brokers have set a one year consensus price target of $54.00 for the company and are predicting that the company will post $0.79 earnings per share for the current quarter, according to Zacks. Zacks has also given Middlefield Banc an industry rank of 107 out of 265 based on the ratings given to its competitors.

Several analysts have issued reports on MBCN shares. Zacks Investment Research downgraded shares of Middlefield Banc from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 1st. Boenning Scattergood set a $54.00 target price on shares of Middlefield Banc and gave the company a “buy” rating in a research note on Tuesday, October 31st.

Large investors have recently made changes to their positions in the business. Wells Fargo & Company MN increased its stake in shares of Middlefield Banc by 0.3% in the second quarter. Wells Fargo & Company MN now owns 2,926 shares of the bank’s stock worth $148,000 after acquiring an additional 10 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Middlefield Banc by 19.7% in the third quarter. Bank of New York Mellon Corp now owns 9,317 shares of the bank’s stock worth $430,000 after acquiring an additional 1,536 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of Middlefield Banc in the second quarter worth $141,000. The Manufacturers Life Insurance Company acquired a new position in shares of Middlefield Banc in the second quarter worth $145,000. Finally, Teachers Advisors LLC acquired a new position in shares of Middlefield Banc in the second quarter worth $230,000. 26.57% of the stock is currently owned by institutional investors.

Shares of Middlefield Banc (NASDAQ MBCN) opened at $44.90 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.01 and a current ratio of 1.01. Middlefield Banc has a one year low of $37.15 and a one year high of $54.60. The stock has a market cap of $148.36, a price-to-earnings ratio of 14.89 and a beta of 0.15.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.41%. The ex-dividend date is Monday, November 27th. Middlefield Banc’s dividend payout ratio (DPR) is currently 34.84%.

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About Middlefield Banc

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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