Zacks Research Downgrades Middlefield Banc (NASDAQ:MBCN) to Strong Sell

Middlefield Banc (NASDAQ:MBCN) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

Several other research firms have also issued reports on MBCN. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $35.00 price target (up from $32.00) on shares of Middlefield Banc in a research report on Thursday, October 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Middlefield Banc in a research report on Monday. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.00.

Middlefield Banc Stock Down 1.7%

MBCN stock opened at $35.18 on Monday. The company has a market capitalization of $284.61 million, a P/E ratio of 13.48 and a beta of 0.40. The firm has a 50 day simple moving average of $33.94 and a 200-day simple moving average of $31.31. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.05. Middlefield Banc has a twelve month low of $22.74 and a twelve month high of $37.67.

Middlefield Banc (NASDAQ:MBCN) last issued its quarterly earnings results on Wednesday, October 22nd. The bank reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. The business had revenue of $19.89 million for the quarter, compared to analysts’ expectations of $19.57 million. Middlefield Banc had a net margin of 18.39% and a return on equity of 9.79%. On average, equities research analysts predict that Middlefield Banc will post 1.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Middlefield Banc

A number of large investors have recently made changes to their positions in the company. Elizabeth Park Capital Advisors Ltd. lifted its position in Middlefield Banc by 211.2% in the 2nd quarter. Elizabeth Park Capital Advisors Ltd. now owns 86,307 shares of the bank’s stock worth $2,599,000 after buying an additional 58,576 shares in the last quarter. Fisher Asset Management LLC acquired a new position in Middlefield Banc during the 2nd quarter worth $1,056,000. Deutsche Bank AG bought a new stake in shares of Middlefield Banc in the first quarter valued at approximately $155,000. Charles Schwab Investment Management Inc. grew its position in Middlefield Banc by 5.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 21,437 shares of the bank’s stock worth $599,000 after buying an additional 1,164 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Middlefield Banc during the first quarter valued at approximately $396,000. Institutional investors and hedge funds own 31.72% of the company’s stock.

Middlefield Banc Company Profile

Middlefield Banc is a bank holding company headquartered in Middlefield, Ohio, operating through its subsidiary, Middlefield Banking Company. The firm offers a suite of deposit products, including checking, savings, money market accounts and certificates of deposit, alongside comprehensive cash management solutions designed for both individual consumers and businesses.

On the lending side, Middlefield Banc specializes in commercial and residential real estate loans, consumer installment loans and lines of credit.