Middlefield Banc (NASDAQ:MBCN) Raised to “Hold” at Zacks Research

Middlefield Banc (NASDAQ:MBCN) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Middlefield Banc in a research report on Monday, December 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $35.00 price objective (up previously from $32.00) on shares of Middlefield Banc in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $30.00.

Middlefield Banc Price Performance

Shares of MBCN opened at $35.78 on Tuesday. The stock has a market cap of $289.46 million, a P/E ratio of 13.71 and a beta of 0.40. Middlefield Banc has a 1 year low of $22.74 and a 1 year high of $37.67. The stock’s 50-day moving average price is $34.96 and its two-hundred day moving average price is $32.00. 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 (NASDAQ:MBCN) last announced its quarterly earnings results on Wednesday, October 22nd. The bank reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. Middlefield Banc had a net margin of 18.39% and a return on equity of 9.79%. The business had revenue of $19.89 million for the quarter, compared to the consensus estimate of $19.57 million. On average, equities analysts predict that Middlefield Banc will post 1.96 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its position in Middlefield Banc by 102.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,512 shares of the bank’s stock worth $45,000 after buying an additional 764 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in Middlefield Banc by 107.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 2,047 shares of the bank’s stock worth $62,000 after acquiring an additional 1,059 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Middlefield Banc by 650.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,769 shares of the bank’s stock valued at $83,000 after purchasing an additional 2,400 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Middlefield Banc by 21.2% during the third quarter. JPMorgan Chase & Co. now owns 7,504 shares of the bank’s stock valued at $225,000 after purchasing an additional 1,313 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Middlefield Banc in the second quarter valued at approximately $243,000. Institutional investors 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.