Kennedy Capital Management Inc. grew its holdings in shares of Middlefield Banc Corp (NASDAQ:MBCN) by 240.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,713 shares of the bank’s stock after buying an additional 45,722 shares during the quarter. Kennedy Capital Management Inc. owned 2.01% of Middlefield Banc worth $3,119,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of Middlefield Banc by 0.3% during the 2nd quarter. Wells Fargo & Company MN now owns 2,926 shares of the bank’s stock valued at $148,000 after buying an additional 10 shares in the last quarter. BlackRock Inc. raised its position in Middlefield Banc by 1.1% in the 4th quarter. BlackRock Inc. now owns 114,747 shares of the bank’s stock worth $5,531,000 after purchasing an additional 1,243 shares during the period. Bank of New York Mellon Corp raised its position in Middlefield Banc by 19.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 9,317 shares of the bank’s stock worth $430,000 after purchasing an additional 1,536 shares during the period. New York State Common Retirement Fund purchased a new stake in Middlefield Banc in the 2nd quarter worth about $141,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Middlefield Banc in the 2nd quarter worth about $145,000. Hedge funds and other institutional investors own 27.94% of the company’s stock.
A number of analysts recently weighed in on the stock. Boenning Scattergood reissued a “buy” rating on shares of Middlefield Banc in a research report on Wednesday, January 31st. ValuEngine lowered shares of Middlefield Banc from a “buy” rating to a “hold” rating in a research report on Friday, December 22nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $51.00 price objective on shares of Middlefield Banc in a research report on Friday, December 22nd. Finally, Zacks Investment Research raised shares of Middlefield Banc from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Wednesday, January 3rd.
Shares of Middlefield Banc Corp (NASDAQ:MBCN) opened at $48.75 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.01 and a quick ratio of 1.01. Middlefield Banc Corp has a 1 year low of $41.47 and a 1 year high of $54.60. The firm has a market cap of $173.99, a PE ratio of 15.98 and a beta of 0.21.
Middlefield Banc (NASDAQ:MBCN) last posted its quarterly earnings data on Wednesday, January 24th. The bank reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.62. Middlefield Banc had a net margin of 19.35% and a return on equity of 8.08%. The company had revenue of $10.72 million for the quarter, compared to analyst estimates of $10.71 million. equities research analysts predict that Middlefield Banc Corp will post 4.04 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.28 per share. The ex-dividend date is Tuesday, February 27th. This is a positive change from Middlefield Banc’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.30%. Middlefield Banc’s dividend payout ratio (DPR) is 34.84%.
About Middlefield Banc
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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