Middlefield Banc Corp. (NASDAQ:MBCN) to Issue Quarterly Dividend of $0.21

Middlefield Banc Corp. (NASDAQ:MBCN) announced a quarterly dividend on Tuesday, February 11th,Wall Street Journal reports. Stockholders of record on Friday, February 28th will be given a dividend of 0.21 per share by the bank on Friday, March 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Friday, February 28th. This is a positive change from Middlefield Banc’s previous quarterly dividend of $0.20.

Middlefield Banc has raised its dividend payment by an average of 7.2% per year over the last three years. Middlefield Banc has a dividend payout ratio of 38.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Middlefield Banc to earn $2.12 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 37.7%.

Middlefield Banc Stock Down 3.5 %

NASDAQ MBCN traded down $0.93 during trading hours on Tuesday, hitting $25.78. The company’s stock had a trading volume of 6,532 shares, compared to its average volume of 9,702. The company has a market capitalization of $208.04 million, a PE ratio of 13.43 and a beta of 0.70. 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 52 week low of $20.61 and a 52 week high of $34.00. The company’s 50-day simple moving average is $27.69 and its two-hundred day simple moving average is $27.85.

Middlefield Banc (NASDAQ:MBCN) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Middlefield Banc had a net margin of 14.31% and a return on equity of 7.47%. Research analysts anticipate that Middlefield Banc will post 1.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. StockNews.com upgraded Middlefield Banc from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods raised their target price on shares of Middlefield Banc from $30.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Hovde Group dropped their target price on shares of Middlefield Banc from $28.00 to $25.00 and set a “market perform” rating for the company in a research report on Monday, January 27th.

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.