Middlefield Banc (NASDAQ:MBCN) Posts Earnings Results, Beats Expectations By $0.09 EPS

Middlefield Banc (NASDAQ:MBCN) issued its quarterly earnings results on Tuesday. The bank reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.09, Yahoo Finance reports. The firm had revenue of $26.41 million for the quarter, compared to analyst estimates of $17.10 million. Middlefield Banc had a return on equity of 8.33% and a net margin of 16.41%.

Middlefield Banc Trading Up 0.1 %

Shares of MBCN stock traded up $0.02 on Thursday, hitting $21.49. The stock had a trading volume of 10,092 shares, compared to its average volume of 6,921. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $173.42 million, a P/E ratio of 10.48 and a beta of 0.65. Middlefield Banc has a 1 year low of $21.36 and a 1 year high of $37.00. The company’s 50 day moving average price is $23.32 and its 200-day moving average price is $26.89.

Middlefield Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.80 annualized dividend and a dividend yield of 3.72%. Middlefield Banc’s dividend payout ratio is presently 39.02%.

Wall Street Analyst Weigh In

MBCN has been the topic of a number of recent research reports. StockNews.com raised Middlefield Banc from a “sell” rating to a “hold” rating in a research note on Wednesday. Hovde Group decreased their price target on Middlefield Banc from $25.00 to $23.00 and set a “market perform” rating on the stock in a research note on Wednesday. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $25.00 price target (down previously from $30.00) on shares of Middlefield Banc in a research note on Thursday.

Insider Activity at Middlefield Banc

In other Middlefield Banc news, Director Michael C. Voinovich acquired 1,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were acquired at an average price of $26.67 per share, for a total transaction of $26,670.00. Following the acquisition, the director now owns 8,253 shares in the company, valued at approximately $220,107.51. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.81% 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.