Hovde Group Lowers Middlefield Banc (NASDAQ:MBCN) Price Target to $25.00

Middlefield Banc (NASDAQ:MBCN - Free Report) had its price objective reduced by Hovde Group from $28.00 to $25.00 in a report issued on Monday, MarketBeat Ratings reports. They currently have a market perform rating on the bank's stock.

A number of other equities analysts have also weighed in on MBCN. Keefe, Bruyette & Woods boosted their target price on Middlefield Banc from $30.00 to $32.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. StockNews.com upgraded Middlefield Banc from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th.

Middlefield Banc Stock Up 3.0 %

Shares of MBCN stock traded up $0.73 during mid-day trading on Monday, reaching $25.25. 18,454 shares of the company's stock traded hands, compared to its average volume of 10,026. Middlefield Banc has a 12 month low of $20.61 and a 12 month high of $34.00. The company has a market cap of $203.77 million, a P/E ratio of 14.35 and a beta of 0.71. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.06. The company's 50-day moving average price is $28.68 and its 200-day moving average price is $27.77.

Middlefield Banc (NASDAQ:MBCN - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. Middlefield Banc had a return on equity of 6.86% and a net margin of 13.31%. On average, equities analysts expect that Middlefield Banc will post 1.79 earnings per share for the current fiscal year.

Middlefield Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, November 29th. This represents a $0.80 annualized dividend and a dividend yield of 3.17%. Middlefield Banc's dividend payout ratio (DPR) is 45.45%.

Institutional Trading of Middlefield Banc

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Middlefield Banc by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 165,355 shares of the bank's stock valued at $4,763,000 after buying an additional 1,368 shares during the period. State Street Corp increased its stake in Middlefield Banc by 0.9% in the third quarter. State Street Corp now owns 102,516 shares of the bank's stock worth $2,952,000 after purchasing an additional 963 shares during the period. Barclays PLC increased its stake in Middlefield Banc by 69.2% in the third quarter. Barclays PLC now owns 16,916 shares of the bank's stock worth $487,000 after purchasing an additional 6,918 shares during the period. Empowered Funds LLC increased its stake in Middlefield Banc by 5.1% in the third quarter. Empowered Funds LLC now owns 16,536 shares of the bank's stock worth $476,000 after purchasing an additional 804 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Middlefield Banc by 127.7% in the third quarter. JPMorgan Chase & Co. now owns 12,180 shares of the bank's stock worth $351,000 after purchasing an additional 6,832 shares during the period. 31.72% of the stock is owned by hedge funds and other 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 offers checking, savings, negotiable order of withdrawal accounts, money market accounts, time certificates of deposit, commercial loans, real estate loans, various consumer loans, safe deposit facilities, and travelers' checks.