Middlefield Banc (MBCN) Set to Announce Earnings on Monday

Middlefield Banc (NASDAQ:MBCN) will be announcing its earnings results on Monday, April 22nd.

Middlefield Banc (NASDAQ:MBCN) last announced its quarterly earnings data on Friday, January 26th. The bank reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). Middlefield Banc had a net margin of 17.91% and a return on equity of 8.76%. The company had revenue of $25.69 million for the quarter, compared to analyst estimates of $17.80 million. On average, analysts expect Middlefield Banc to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Middlefield Banc Stock Up 0.7 %

MBCN stock opened at $22.29 on Friday. The stock’s 50 day simple moving average is $23.84 and its 200 day simple moving average is $27.17. The company has a market cap of $179.88 million, a P/E ratio of 10.42 and a beta of 0.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.97 and a current ratio of 0.97. Middlefield Banc has a fifty-two week low of $21.85 and a fifty-two week high of $37.00.

Middlefield Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.80 annualized dividend and a dividend yield of 3.59%. Middlefield Banc’s dividend payout ratio is 37.38%.

Insider Buying and Selling

In other Middlefield Banc news, Director Michael C. Voinovich bought 1,000 shares of the stock in a transaction dated Friday, February 2nd. The shares were bought at an average cost of $26.67 per share, for a total transaction of $26,670.00. Following the purchase, the director now directly owns 8,253 shares of the company’s stock, valued at approximately $220,107.51. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 3.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Middlefield Banc

Several institutional investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in Middlefield Banc by 5.4% during the third quarter. Rhumbline Advisers now owns 8,047 shares of the bank’s stock valued at $204,000 after purchasing an additional 412 shares during the last quarter. Morgan Stanley raised its position in shares of Middlefield Banc by 157.5% in the fourth quarter. Morgan Stanley now owns 6,597 shares of the bank’s stock valued at $181,000 after purchasing an additional 4,035 shares during the period. Bank of America Corp DE lifted its stake in shares of Middlefield Banc by 134.9% during the 1st quarter. Bank of America Corp DE now owns 6,331 shares of the bank’s stock valued at $177,000 after buying an additional 3,636 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Middlefield Banc by 28,160.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,500 shares of the bank’s stock worth $174,000 after buying an additional 6,477 shares during the period. Finally, Royal Bank of Canada grew its stake in Middlefield Banc by 280.3% in the 4th quarter. Royal Bank of Canada now owns 5,210 shares of the bank’s stock valued at $168,000 after buying an additional 3,840 shares in the last quarter. Hedge funds and other institutional investors own 31.72% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Hovde Group initiated coverage on shares of Middlefield Banc in a research report on Monday, April 1st. They issued a “market perform” rating and a $25.00 price target for the company.

About Middlefield Banc

Middlefield Banc Corp. operates as the bank holding company for The Middlefield Banking Company that provides various commercial banking services to small and medium-sized businesses, professionals, small business owners, and retail customers in northeastern and central Ohio. It offers checking, savings, negotiable order of withdrawal accounts, money market accounts, time certificates of deposit, commercial loans, real estate loans, various consumer loans, safe deposit facilities, and travelers' checks.