Middlefield Banc Corp. (NASDAQ:MBCN) to Issue Quarterly Dividend of $0.20

Middlefield Banc Corp. (NASDAQ:MBCN) announced a quarterly dividend on Monday, November 18th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.20 per share by the bank on Friday, December 13th. This represents a $0.80 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Friday, November 29th.

Middlefield Banc has raised its dividend by an average of 10.1% annually over the last three years. Middlefield Banc has a payout ratio of 44.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Middlefield Banc to earn $1.86 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 43.0%.

Middlefield Banc Stock Performance

MBCN opened at $30.74 on Wednesday. The stock has a market cap of $248.07 million, a P/E ratio of 17.47 and a beta of 0.69. 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 fifty day moving average price of $29.29 and a 200 day moving average price of $25.84. Middlefield Banc has a 1 year low of $20.61 and a 1 year high of $37.00.

Middlefield Banc (NASDAQ:MBCN) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.18). Middlefield Banc had a return on equity of 6.86% and a net margin of 13.31%. The firm had revenue of $16.82 million during the quarter, compared to analyst estimates of $17.10 million. Equities research analysts anticipate that Middlefield Banc will post 1.79 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Middlefield Banc from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th.

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.