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

Brokers have set a 1-year consensus target price of $54.00 for the company and are forecasting that the company will post $0.82 EPS for the current quarter, according to Zacks. Zacks has also given Middlefield Banc Corp. an industry rank of 105 out of 265 based on the ratings given to related companies.

A number of analysts have recently weighed in on MBCN shares. Boenning Scattergood started coverage on shares of Middlefield Banc Corp. in a report on Tuesday, August 15th. They issued an “outperform” rating on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $47.00 price objective on shares of Middlefield Banc Corp. in a research report on Thursday, July 27th.

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Shares of Middlefield Banc Corp. (NASDAQ MBCN) traded up 2.48% during midday trading on Wednesday, hitting $45.45. 3,453 shares of the stock were exchanged. Middlefield Banc Corp. has a 12 month low of $34.10 and a 12 month high of $54.60. The stock has a market cap of $145.94 million, a P/E ratio of 15.30 and a beta of 0.17. The firm has a 50 day moving average of $46.11 and a 200-day moving average of $47.51.

Middlefield Banc Corp. (NASDAQ:MBCN) last issued its earnings results on Wednesday, July 26th. The bank reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.02). Middlefield Banc Corp. had a return on equity of 8.19% and a net margin of 18.69%. The business had revenue of $10.27 million for the quarter. Equities research analysts anticipate that Middlefield Banc Corp. will post $3.31 EPS for the current year.

In related news, Director Darryl E. Mast purchased 2,400 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were purchased at an average price of $45.42 per share, with a total value of $109,008.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.41% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in MBCN. California State Teachers Retirement System purchased a new position in shares of Middlefield Banc Corp. during the 2nd quarter worth $232,000. The Manufacturers Life Insurance Company purchased a new stake in Middlefield Banc Corp. in the 2nd quarter valued at about $145,000. State Street Corp purchased a new stake in Middlefield Banc Corp. in the 2nd quarter valued at about $1,336,000. Carnegie Capital Asset Management LLC purchased a new stake in Middlefield Banc Corp. in the 2nd quarter valued at about $3,555,000. Finally, Banc Funds Co. LLC raised its holdings in Middlefield Banc Corp. by 106.1% in the 2nd quarter. Banc Funds Co. LLC now owns 84,991 shares of the bank’s stock valued at $4,284,000 after buying an additional 43,750 shares during the period. 24.57% of the stock is currently 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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