Zacks: Middlefield Banc Corp. (MBCN) Given Average Recommendation of “Hold” by Analysts
Shares of Middlefield Banc Corp. (NASDAQ:MBCN) have earned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Analysts have set a 1 year consensus price objective of $38.00 for the company, according to Zacks. Zacks has also assigned Middlefield Banc Corp. an industry rank of 84 out of 265 based on the ratings given to its competitors.
Separately, Keefe, Bruyette & Woods restated a “hold” rating and issued a $44.00 target price on shares of Middlefield Banc Corp. in a research note on Wednesday, April 5th.
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Shares of Middlefield Banc Corp. (NASDAQ MBCN) traded down 0.30% during trading on Monday, reaching $50.25. The company’s stock had a trading volume of 137 shares. The stock has a market cap of $161.00 million, a price-to-earnings ratio of 16.58 and a beta of 0.20. Middlefield Banc Corp. has a 52-week low of $31.66 and a 52-week high of $54.60. The stock’s 50 day moving average price is $51.74 and its 200-day moving average price is $44.25.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Friday, June 2nd were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Wednesday, May 31st. Middlefield Banc Corp.’s payout ratio is currently 35.41%.
In other news, CFO Donald L. Stacy sold 750 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $54.00, for a total value of $40,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Darryl E. Mast acquired 1,000 shares of the stock in a transaction dated Wednesday, June 14th. The stock was acquired at an average price of $52.42 per share, for a total transaction of $52,420.00. The disclosure for this purchase can be found here. 8.41% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of MBCN. Gendell Jeffrey L boosted its stake in shares of Middlefield Banc Corp. by 66.0% in the first quarter. Gendell Jeffrey L now owns 18,653 shares of the bank’s stock valued at $842,000 after buying an additional 7,418 shares during the last quarter. Geode Capital Management LLC acquired a new position in Middlefield Banc Corp. during the first quarter worth approximately $1,140,000. PNC Financial Services Group Inc. acquired a new position in Middlefield Banc Corp. during the first quarter worth approximately $1,897,000. FMR LLC acquired a new position in Middlefield Banc Corp. during the first quarter worth approximately $226,000. Finally, YHB Investment Advisors Inc. acquired a new position in Middlefield Banc Corp. during the first quarter worth approximately $205,000. Institutional investors own 5.53% of the company’s stock.
About Middlefield Banc Corp.
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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