Middlefield Banc (NASDAQ:MBCN) Upgraded by StockNews.com to “Hold” Rating

by · The Markets Daily

StockNews.com upgraded shares of Middlefield Banc (NASDAQ:MBCN – Free Report) from a sell rating to a hold rating in a research report released on Tuesday.

Middlefield Banc Trading Up 0.4 %

Shares of MBCN traded up $0.12 during trading on Tuesday, reaching $29.99. 2,268 shares of the company traded hands, compared to its average volume of 10,476. The stock has a 50-day simple moving average of $28.73 and a 200-day simple moving average of $25.41. The stock has a market cap of $242.02 million, a PE ratio of 16.97 and a beta of 0.69. Middlefield Banc has a twelve month low of $20.61 and a twelve month high of $37.00. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.06.

Middlefield Banc (NASDAQ:MBCN – Get Free Report) last posted its earnings results on Thursday, October 17th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.18). Middlefield Banc had a net margin of 13.31% and a return on equity of 6.90%. The company had revenue of $16.82 million during the quarter, compared to analyst estimates of $17.10 million. On average, analysts anticipate that Middlefield Banc will post 1.79 earnings per share for the current year.

Hedge Funds Weigh In On Middlefield Banc

A number of hedge funds and other institutional investors have recently bought and sold shares of MBCN. YHB Investment Advisors Inc. purchased a new stake in Middlefield Banc during the third quarter worth about $225,000. Vanguard Group Inc. increased its stake in Middlefield Banc by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 386,196 shares of the bank’s stock worth $9,222,000 after buying an additional 3,782 shares during the period. BNP Paribas Financial Markets lifted its holdings in Middlefield Banc by 48.9% during the 1st quarter. BNP Paribas Financial Markets now owns 3,668 shares of the bank’s stock worth $88,000 after buying an additional 1,204 shares in the last quarter. Empowered Funds LLC lifted its holdings in 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 buying an additional 804 shares in the last quarter. Finally, FMR LLC increased its position in shares of Middlefield Banc by 104.2% during 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 period. 31.72% of the stock is currently owned by hedge funds and other institutional investors.

About Middlefield Banc

(Get Free Report)

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.

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