Q3 2017 Earnings Forecast for Middlefield Banc Corp. Issued By Boenning Scattergood (MBCN)
Middlefield Banc Corp. (NASDAQ:MBCN) – Stock analysts at Boenning Scattergood issued their Q3 2017 earnings estimates for Middlefield Banc Corp. in a research report issued on Monday. Boenning Scattergood analyst S. Beury forecasts that the bank will post earnings of $0.81 per share for the quarter. Boenning Scattergood has a “Outperform” rating on the stock. Boenning Scattergood also issued estimates for Middlefield Banc Corp.’s Q4 2017 earnings at $0.82 EPS, FY2017 earnings at $3.25 EPS and FY2018 earnings at $3.68 EPS.
Middlefield Banc Corp. (NASDAQ:MBCN) last posted its earnings results on Wednesday, July 26th. The bank reported $0.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.02. The business had revenue of $10.27 million during the quarter. Middlefield Banc Corp. had a return on equity of 8.97% and a net margin of 18.69%.
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Separately, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $47.00 price target on shares of Middlefield Banc Corp. in a research note on Thursday, July 27th.
Shares of Middlefield Banc Corp. (NASDAQ:MBCN) opened at 44.00 on Wednesday. Middlefield Banc Corp. has a 52-week low of $32.45 and a 52-week high of $54.60. The company has a market capitalization of $141.28 million, a P/E ratio of 14.81 and a beta of 0.16. The firm has a 50-day moving average of $47.42 and a 200 day moving average of $46.21.
In other news, CFO Donald L. Stacy sold 750 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $54.00, for a total transaction of $40,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Darryl E. Mast purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were acquired at an average cost of $52.42 per share, with a total value of $52,420.00. The disclosure for this purchase can be found here. 8.41% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of MBCN. Huntington National Bank boosted its position in shares of Middlefield Banc Corp. by 42.9% in the first quarter. Huntington National Bank now owns 17,882 shares of the bank’s stock valued at $807,000 after buying an additional 5,367 shares in the last quarter. YHB Investment Advisors Inc. acquired a new position in shares of Middlefield Banc Corp. during the first quarter valued at $205,000. Gendell Jeffrey L boosted its position 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 in the last quarter. Siena Capital Management LLC acquired a new position in shares of Middlefield Banc Corp. during the second quarter valued at $3,780,000. Finally, FMR LLC acquired a new position in shares of Middlefield Banc Corp. during the first quarter valued at $226,000. 13.98% of the stock is owned by institutional investors.
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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