Middlefield Banc (NASDAQ:MBCN) Announces Quarterly Earnings Results
by Sarita Garza · The Markets DailyMiddlefield Banc (NASDAQ:MBCN – Get Free Report) announced its quarterly earnings data on Tuesday. The bank reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.27), FiscalAI reports. Middlefield Banc had a net margin of 18.39% and a return on equity of 9.79%. The company had revenue of $19.34 million for the quarter, compared to analyst estimates of $19.97 million.
Middlefield Banc Price Performance
Middlefield Banc stock traded down $0.39 during mid-day trading on Tuesday, hitting $34.63. 27,014 shares of the company traded hands, compared to its average volume of 38,524. Middlefield Banc has a one year low of $22.74 and a one year high of $37.67. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $280.16 million, a price-to-earnings ratio of 13.27 and a beta of 0.38. The stock has a fifty day moving average price of $35.09 and a 200-day moving average price of $32.36.
Middlefield Banc Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, February 17th. Middlefield Banc’s dividend payout ratio (DPR) is 32.18%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on MBCN shares. Weiss Ratings restated a “buy (b-)” rating on shares of Middlefield Banc in a report on Monday, December 29th. Zacks Research raised Middlefield Banc from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $35.00 price target (up previously from $32.00) on shares of Middlefield Banc in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Middlefield Banc has an average rating of “Hold” and a consensus price target of $35.00.
Get Our Latest Analysis on Middlefield Banc
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in MBCN. Empowered Funds LLC grew its holdings in Middlefield Banc by 3.5% in the 1st quarter. Empowered Funds LLC now owns 17,863 shares of the bank’s stock worth $499,000 after acquiring an additional 598 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Middlefield Banc by 2.0% during the second quarter. Geode Capital Management LLC now owns 171,134 shares of the bank’s stock worth $5,154,000 after purchasing an additional 3,308 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Middlefield Banc in the second quarter worth about $307,000. Jane Street Group LLC bought a new stake in shares of Middlefield Banc in the second quarter worth about $243,000. Finally, Bank of America Corp DE increased its holdings in Middlefield Banc by 29.8% during the 2nd quarter. Bank of America Corp DE now owns 13,195 shares of the bank’s stock valued at $397,000 after purchasing an additional 3,029 shares during the period. 31.72% of the stock is owned by hedge funds and other institutional investors.
Middlefield Banc Company Profile
Middlefield Banc is a bank holding company headquartered in Middlefield, Ohio, operating through its subsidiary, Middlefield Banking Company. The firm offers a suite of deposit products, including checking, savings, money market accounts and certificates of deposit, alongside comprehensive cash management solutions designed for both individual consumers and businesses.
On the lending side, Middlefield Banc specializes in commercial and residential real estate loans, consumer installment loans and lines of credit.
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