Middlefield Banc (NASDAQ:MBCN) Announces Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Middlefield Banc (NASDAQ:MBCN) released its quarterly earnings results on Thursday. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14, Zacks reports. Middlefield Banc had a return on equity of 6.86% and a net margin of 13.31%.

Middlefield Banc Trading Down 2.1 %

MBCN stock traded down $0.51 during midday trading on Thursday, reaching $24.26. The company’s stock had a trading volume of 7,509 shares, compared to its average volume of 9,890. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a fifty day simple moving average of $28.90 and a two-hundred day simple moving average of $27.70. Middlefield Banc has a 1 year low of $20.61 and a 1 year high of $34.00. The firm has a market capitalization of $195.78 million, a price-to-earnings ratio of 13.78 and a beta of 0.71.

Middlefield Banc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.80 dividend on an annualized basis and a yield of 3.30%. Middlefield Banc’s payout ratio is 45.45%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MBCN shares. StockNews.com upgraded Middlefield Banc from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Keefe, Bruyette & Woods increased their price target on Middlefield Banc from $30.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

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.