Middlefield Banc (NASDAQ:MBCN) Upgraded at StockNews.com

StockNews.com upgraded shares of Middlefield Banc (NASDAQ:MBCN) from a sell rating to a hold rating in a research note released on Tuesday.

Middlefield Banc Price Performance

MBCN traded up $0.12 during trading on Tuesday, hitting $29.99. The company’s stock had a trading volume of 2,268 shares, compared to its average volume of 10,476. The firm has a market capitalization of $242.02 million, a price-to-earnings ratio of 16.97 and a beta of 0.69. Middlefield Banc has a twelve month low of $20.61 and a twelve month high of $37.00. The business’s fifty day simple moving average is $28.73 and its 200 day simple moving average is $25.41. 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 (NASDAQ:MBCN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.18). The company had revenue of $16.82 million during the quarter, compared to analyst estimates of $17.10 million. Middlefield Banc had a net margin of 13.31% and a return on equity of 6.90%. On average, equities research analysts forecast that Middlefield Banc will post 1.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Middlefield Banc

Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC raised its holdings in Middlefield Banc by 104.2% in the 3rd quarter. FMR LLC now owns 1,117 shares of the bank’s stock valued at $32,000 after acquiring an additional 570 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Middlefield Banc by 5.1% in the third quarter. Empowered Funds LLC now owns 16,536 shares of the bank’s stock valued at $476,000 after purchasing an additional 804 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Middlefield Banc by 48.9% during the first quarter. BNP Paribas Financial Markets now owns 3,668 shares of the bank’s stock worth $88,000 after buying an additional 1,204 shares in the last quarter. Vanguard Group Inc. boosted its stake in Middlefield Banc by 1.0% during the first quarter. Vanguard Group Inc. now owns 386,196 shares of the bank’s stock worth $9,222,000 after buying an additional 3,782 shares during the last quarter. Finally, YHB Investment Advisors Inc. purchased a new stake in Middlefield Banc in the 3rd quarter valued at $225,000. 31.72% of the stock is owned by hedge funds and other institutional investors.

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.