Middlefield Banc (MBCN) Releases Earnings Results, Beats Estimates By $0.05 EPS

Middlefield Banc (NASDAQ:MBCN) issued its earnings results on Wednesday. The bank reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.05, MarketWatch Earnings reports. The business had revenue of $11.20 million during the quarter, compared to the consensus estimate of $11.14 million. Middlefield Banc had a return on equity of 8.55% and a net margin of 20.64%.

MBCN opened at $46.35 on Thursday. The company has a market capitalization of $152.32 million, a P/E ratio of 14.13 and a beta of 0.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.99 and a current ratio of 0.99. Middlefield Banc has a 1-year low of $42.95 and a 1-year high of $54.90.

In related news, Director William J. Skidmore sold 700 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $50.45, for a total value of $35,315.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kenneth E. Jones sold 1,275 shares of the company’s stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $48.45, for a total value of $61,773.75. The disclosure for this sale can be found here. Corporate insiders own 6.97% of the company’s stock.

A number of brokerages have recently issued reports on MBCN. Zacks Investment Research raised Middlefield Banc from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 21st. Boenning Scattergood set a $57.00 target price on Middlefield Banc and gave the stock a “buy” rating in a research note on Thursday.

About Middlefield Banc

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 accepts checking, savings, negotiable order of withdrawal, and money market accounts, as well as time certificates of deposit and IRA accounts.

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Earnings History for Middlefield Banc (NASDAQ:MBCN)

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