Hovde Group Cuts Middlefield Banc (NASDAQ:MBCN) Price Target to $25.00

Middlefield Banc (NASDAQ:MBCN) had its target price reduced by Hovde Group from $28.00 to $25.00 in a research report report published on Monday, MarketBeat.com reports. They currently have a market perform rating on the bank’s stock.

Several other equities research analysts also recently commented on MBCN. Keefe, Bruyette & Woods upped their target price on Middlefield Banc from $30.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com raised shares of Middlefield Banc from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th.

Middlefield Banc Stock Performance

NASDAQ:MBCN opened at $27.87 on Monday. The company has a 50-day moving average of $28.46 and a 200-day moving average of $27.81. The firm has a market cap of $224.94 million, a price-to-earnings ratio of 15.84 and a beta of 0.71. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.06. Middlefield Banc has a twelve month low of $20.61 and a twelve month high of $34.00.

Middlefield Banc (NASDAQ:MBCN) last issued its earnings results on Thursday, January 23rd. The bank reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Middlefield Banc had a net margin of 13.31% and a return on equity of 6.86%. Analysts forecast that Middlefield Banc will post 1.79 earnings per share for the current fiscal year.

Middlefield Banc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Friday, November 29th. Middlefield Banc’s dividend payout ratio is currently 41.67%.

Institutional Investors Weigh In On Middlefield Banc

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MBCN. FMR LLC increased its stake in shares of Middlefield Banc by 104.2% in the third quarter. FMR LLC now owns 1,117 shares of the bank’s stock worth $32,000 after acquiring an additional 570 shares during the last quarter. YHB Investment Advisors Inc. purchased a new position in Middlefield Banc in the third quarter valued at about $225,000. JPMorgan Chase & Co. grew its stake in Middlefield Banc by 127.7% in the third quarter. JPMorgan Chase & Co. now owns 12,180 shares of the bank’s stock valued at $351,000 after purchasing an additional 6,832 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Middlefield Banc by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 16,536 shares of the bank’s stock worth $476,000 after purchasing an additional 804 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Middlefield Banc by 69.2% during the 3rd quarter. Barclays PLC now owns 16,916 shares of the bank’s stock valued at $487,000 after buying an additional 6,918 shares during the last quarter. Hedge funds and other institutional investors own 31.72% of the company’s stock.

Middlefield Banc Company Profile

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.