ValuEngine Downgrades Middlefield Banc (MBCN) to Sell

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

Several other equities analysts also recently weighed in on the company. Boenning Scattergood reissued a “buy” rating on shares of Middlefield Banc in a research report on Friday, January 18th. Zacks Investment Research downgraded Middlefield Banc from a “buy” rating to a “hold” rating in a research report on Wednesday, December 19th.

Shares of NASDAQ MBCN traded down $0.60 during trading hours on Wednesday, hitting $42.00. 2,500 shares of the company traded hands, compared to its average volume of 2,052. The company has a market cap of $139.25 million, a P/E ratio of 10.97 and a beta of 0.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.99 and a current ratio of 0.99. Middlefield Banc has a 12 month low of $38.50 and a 12 month high of $54.90.

Middlefield Banc (NASDAQ:MBCN) last released its earnings results on Thursday, January 17th. The bank reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.06. The firm had revenue of $11.44 million for the quarter, compared to the consensus estimate of $11.34 million. Middlefield Banc had a return on equity of 10.16% and a net margin of 22.99%. As a group, equities analysts predict that Middlefield Banc will post 4.24 EPS for the current year.

A number of institutional investors have recently made changes to their positions in MBCN. Bank of America Corp DE grew its position in Middlefield Banc by 45.3% in the 4th quarter. Bank of America Corp DE now owns 2,528 shares of the bank’s stock valued at $108,000 after acquiring an additional 788 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in Middlefield Banc in the 3rd quarter valued at $125,000. Geode Capital Management LLC grew its position in Middlefield Banc by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 24,260 shares of the bank’s stock valued at $1,029,000 after acquiring an additional 1,441 shares during the last quarter. Renaissance Technologies LLC grew its position in Middlefield Banc by 366.0% in the 2nd quarter. Renaissance Technologies LLC now owns 20,972 shares of the bank’s stock valued at $1,063,000 after acquiring an additional 16,472 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Middlefield Banc by 222.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 24,324 shares of the bank’s stock valued at $1,233,000 after acquiring an additional 16,788 shares during the last quarter. 31.86% of the stock is currently owned by institutional investors.

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

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