Middlefield Banc Corp. (NASDAQ:MBCN) Raises Dividend to $0.21 Per Share

Middlefield Banc Corp. (NASDAQ:MBCN - Get Free Report) declared a quarterly dividend on Monday, February 10th,Wall Street Journal reports. Investors of record on Friday, February 28th will be given a dividend of 0.21 per share by the bank on Friday, March 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Middlefield Banc's previous quarterly dividend of $0.20.

Middlefield Banc has raised its dividend payment by an average of 7.2% annually over the last three years. Middlefield Banc has a payout ratio of 38.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Middlefield Banc to earn $2.12 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 37.7%.

Middlefield Banc Price Performance

MBCN stock traded up $1.00 during mid-day trading on Friday, reaching $26.83. The company's stock had a trading volume of 4,487 shares, compared to its average volume of 9,281. The stock has a market cap of $216.52 million, a PE ratio of 13.97 and a beta of 0.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.06. Middlefield Banc has a fifty-two week low of $20.61 and a fifty-two week high of $34.00. The company's 50 day moving average is $27.27 and its two-hundred day moving average is $27.82.

Middlefield Banc (NASDAQ:MBCN - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.14. Middlefield Banc had a net margin of 14.31% and a return on equity of 7.47%. Equities research analysts expect that Middlefield Banc will post 1.96 EPS for the current year.

Analysts Set New Price Targets

MBCN has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Middlefield Banc from $30.00 to $32.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. StockNews.com raised shares of Middlefield Banc from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Finally, Hovde Group dropped their price target on shares of Middlefield Banc from $28.00 to $25.00 and set a "market perform" rating for the company in a research note on Monday, January 27th.

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 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.