Middlefield Banc (MBCN) Rating Lowered to Sell at ValuEngine

Middlefield Banc (NASDAQ:MBCN) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Friday.

Other analysts also recently issued reports about the company. Boenning Scattergood restated a “buy” rating on shares of Middlefield Banc in a research note on Friday, July 20th. Zacks Investment Research upgraded Middlefield Banc from a “hold” rating to a “strong-buy” rating and set a $55.00 price target on the stock in a research note on Thursday, July 26th.

Middlefield Banc stock opened at $45.88 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.15. Middlefield Banc has a 1-year low of $42.95 and a 1-year high of $54.90. The company has a market capitalization of $148.37 million, a P/E ratio of 13.99 and a beta of 0.20.

Middlefield Banc (NASDAQ:MBCN) last posted its quarterly earnings results on Wednesday, October 17th. The bank reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.05. Middlefield Banc had a return on equity of 9.20% and a net margin of 21.86%. The firm had revenue of $11.20 million for the quarter, compared to the consensus estimate of $11.14 million. On average, equities analysts anticipate that Middlefield Banc will post 3.76 earnings per share for the current fiscal year.

In other news, Director Darryl E. Mast bought 1,500 shares of the firm’s stock in a transaction on Tuesday, October 23rd. The shares were bought at an average cost of $46.58 per share, for a total transaction of $69,870.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 6.97% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Stratos Wealth Partners LTD. purchased a new stake in Middlefield Banc during the third quarter worth $125,000. Northern Trust Corp boosted its position in Middlefield Banc by 21.2% during the second quarter. Northern Trust Corp now owns 31,711 shares of the bank’s stock worth $1,608,000 after purchasing an additional 5,539 shares in the last quarter. Carnegie Capital Asset Management LLC boosted its position in Middlefield Banc by 11.9% during the second quarter. Carnegie Capital Asset Management LLC now owns 100,056 shares of the bank’s stock worth $5,085,000 after purchasing an additional 10,649 shares in the last quarter. Renaissance Technologies LLC boosted its position in Middlefield Banc by 366.0% during the second quarter. Renaissance Technologies LLC now owns 20,972 shares of the bank’s stock worth $1,063,000 after purchasing an additional 16,472 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Middlefield Banc by 222.8% during the second quarter. Dimensional Fund Advisors LP now owns 24,324 shares of the bank’s stock worth $1,233,000 after purchasing an additional 16,788 shares in the last quarter. Institutional investors own 31.35% 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 accepts checking, savings, negotiable order of withdrawal, and money market accounts, as well as time certificates of deposit and IRA accounts.

See Also: Fiduciary

To view ValuEngine’s full report, visit ValuEngine’s official website.

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