Middlefield Banc Corp (MBCN) Given Average Rating of “Strong Buy” by Brokerages

Middlefield Banc Corp (NASDAQ:MBCN) has 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 analyst has rated the stock with a strong buy rating.

Brokerages have set a 12 month consensus price objective of $58.00 for the company and are forecasting that the company will post $0.96 EPS for the current quarter, according to Zacks. Zacks has also given Middlefield Banc an industry rank of 20 out of 265 based on the ratings given to related companies.

Several equities research analysts have recently weighed in on the stock. Boenning Scattergood reissued a “buy” rating on shares of Middlefield Banc in a research note on Wednesday, January 31st. ValuEngine raised shares of Middlefield Banc from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research raised shares of Middlefield Banc from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Wednesday, January 3rd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $51.00 target price on shares of Middlefield Banc in a research note on Friday, December 22nd.

Shares of Middlefield Banc (MBCN) opened at $48.25 on Thursday. Middlefield Banc has a 12 month low of $39.40 and a 12 month high of $54.60. The firm has a market cap of $157.85, a price-to-earnings ratio of 15.51 and a beta of 0.30. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.33.

In related news, Director William A. Et Al Valerian sold 1,100 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $49.86, for a total value of $54,846.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William A. Et Al Valerian sold 923 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.50, for a total transaction of $45,688.50. The disclosure for this sale can be found here. Insiders sold a total of 4,281 shares of company stock worth $214,039 in the last ninety days. 8.41% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new position in Middlefield Banc in the 2nd quarter worth about $393,000. New York State Common Retirement Fund purchased a new position in Middlefield Banc in the 2nd quarter worth about $141,000. TIAA CREF Investment Management LLC purchased a new position in Middlefield Banc in the 2nd quarter worth about $347,000. Northern Trust Corp purchased a new position in Middlefield Banc in the 2nd quarter worth about $1,262,000. Finally, Teachers Advisors LLC purchased a new position in Middlefield Banc in the 2nd quarter worth about $230,000. 26.53% of the stock is currently owned by institutional investors.

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Middlefield Banc Company Profile

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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